Chalerm Yoovidhya, co-owner of the Red Bull energy drink empire, has once again been named the richest person in Thailand, according to Forbes magazine.
His net worth now stands at US$44.5 billion, placing him ahead of the Chearavanont brothers of the CP Group, who hold second place with $35.7 billion.
Forbes reported that the combined wealth of Thailand’s 50 richest families surged by over 11% to a total of $170.5 billion.
The boost was largely driven by significant gains among the top three on the list, with the Yoovidhya family alone increasing its wealth by $8.5 billion from the previous year.
This 24% jump was supported by $12.9 billion (417 billion baht) in global revenue from the sale of nearly 13 billion cans of Red Bull.
The Chearavanont brothers saw a 23% rise in their net worth, maintaining their position at second place.
Climbing to third was Sarath Ratanavadi, a leading figure in the energy and telecommunications sectors. His wealth rose by 30% to $12 billion (389 billion baht), up from fifth position last year.
In fourth place is 81-year-old Charoen Sirivadhanabhakdi, whose fortune in alcohol and real estate declined slightly to $10.5 billion (340 billion baht).
Despite transferring some of his holdings to his five children in May, the TCC Group founder still has his wealth listed under his name.
The Chirathivat family, best known for owning Central department stores and shopping malls, ranked fifth with a net worth of $8.6 billion (278 billion baht). Their fortune fell by 13% compared to last year, attributed to sluggish consumer spending in the retail sector.
Former prime minister Thaksin Shinawatra ranked 11th, with an estimated net worth of $2.1 billion (68 billion baht).
Although the entry threshold to qualify for the Forbes list dropped to $420 million, down from $550 million last year, four individuals fell off the rankings. Among the most notable absentees was renewable energy mogul Somphote Ahunai.
A regular on the list since 2013, Somphote’s company, Energy Absolute, experienced a dramatic 80% drop in its share value since the last evaluation.
Somphote recently stepped down as CEO after being accused, alongside two others, of fraud related to procurement contracts dating back to 2013–2015. He has denied any wrongdoing and has expressed his willingness to cooperate with authorities.
