CityNews – The Chirathivat family, owners of the multi-billion baht Central Group and the second-richest family in Thailand, have now taken the top spot in Thailand’s list of wealthiest stock portfolios. It is believed that almost 67 billion baht in stocks is collectively held by the 31 heirs.
Individually, a second-generation Chirathivat family member, Arunee Chan, comes in 9th on the list top ten wealthiest shareholders on the Thai stock exchange. But as a family unit, the clan has enjoyed a 63% share price increase, and has kicked out the Maleenont family from first place, which is a title they proudly held for 14 years.
The Maleenont family (BEC World) has holdings of 42 billion baht in the stock market, placing them second in Thailand, while the Prasatthong-Osoth family (Bangkok Dusit Medical Services) ranked third with just over 42 billion baht in stocks.
The richest man in Thailand is Dhanin Chearavanont, whose family owns the CP Group, which is one of Asia’s largest conglomerates. The CP Group’s revenues shockingly reach over 10% of the entire Thai National GDP.
The company has its core operations in three main areas: agribusiness (CP Foods is one of the largest producers of animal feed and poultry worldwide); retail (7-Elevens in Thailand are run by CP, which now hold the third largest number of stores after the US and Japan); and telecommunications (True Corporation was established by the CP Group, and now has more than 23 million subscribers throughout Thailand).
The head of the family, Dhanin Chearavanont, is worth over U.S. $12.6 billion, and the 58th richest person in the world. The Chirathivat family are the second richest in Thailand with a net worth of U.S. $12.3 billion thanks to Central Group’s many malls, hotels and restaurants. The third richest man in Thailand is entrepreneur Charoen Sirivadhanabhakdi worth U.S. $10.6 billion. He owns Thai Beverage, which exports its products, including Chang Beer, worldwide. Chearavanont, the Chirathivat family, and Sirivadhanabhakdi are all descendants of ethnic Chinese people, who migrated to Thailand in the 1920’s.
You can see Forbes’ list of Thailand’s 50 Billionaires here.