Red Bull Family Now Thailand’s Richest, As Reported by Forbes

Red Bull co-owner Chalerm Yoovidhya leads Thailand’s wealthiest family, according to the latest Forbes list, overtaking the Chearavanont brothers. However, the total wealth of the top 50 richest in Thailand decreased by 15%.

Forbes Asia reported on Wednesday that Mr. Chalerm’s family grew their fortune by US$2.6 billion (95.8 billion baht) to $36 billion (1.3 trillion baht).

The publication noted that Red Bull’s revenue topped $11 billion (405.5 billion baht) last year, with more than 12 billion bottles and cans sold worldwide.

The Chearavanont brothers, known for their leadership of the Charoen Pokphand Group, fell to second place after leading the list of Thailand’s 50 Richest for nearly a decade.

Their fortune decreased from $34 billion (1.2 trillion baht) last year to $29 billion (1.1 trillion baht) this year, with Forbes Asia citing the poor performance of Ping An Insurance in China, which recorded a $2.7 billion (99.5 billion baht) loss last year, as a contributing factor.

Charoen Sirivadhanabhakdi of Thai Beverage maintains the third spot, with his wealth estimated at $10 billion (368.6 billion baht), a decrease of $3.6 billion (132.7 billion baht) from the previous year.

The Chirathivat family holds fourth place with $9.9 billion (364.9 billion baht), a 20% decline from $12.4 billion (457.1 billion baht) last year, after their Central Group increased its stake in London’s Selfridges department store in November, becoming its major shareholder.

Sarath Ratanavadi, an energy-and-telecom tycoon, continues in fifth place with a wealth of $9.2 billion (339.1 billion baht), down from $11.3 billion (416.5 billion baht).

Energy Absolute CEO Somphote Ahunai saw his fortune plummet by two-thirds to $995 million (36.7 billion baht), dropping him to 32nd place, as his stakes in the renewable energy and electric vehicle company suffered due to debt concerns.

The collective wealth of “Thailand’s 50 Richest” declined nearly 12% to $153 billion (5.6 trillion baht) amid a falling Stock Exchange of Thailand index and the depreciation of the baht, as reported by Forbes Asia. The full list is accessible at