Thai billionaire passes empire torch to next generation
ThaiBev owner transfers major company shares to children
Thailand’s second-richest man, Charoen Sirivadhanabhakdi, is handing over the reins of his sprawling business empire to his five children as he steps back from day-to-day management.
The 81 year old billionaire has transferred ownership of two major listed companies to his offspring, signalling a major shift in the country’s corporate landscape.
According to filings made late yesterday, May 26, by Asset World Corp and Berli Jucker, Charoen sold all his shares in Sutthasup 9 Company, an entity that indirectly controls both firms, to his children.
The documents did not disclose the exact size of his previous holdings. Despite the change in ownership, the companies confirmed that management structures, business operations, and strategic directions will remain unchanged.
Charoen, with a net worth estimated at around US$11.6 billion (approximately 379.5 billion baht) by the Bloomberg Billionaires Index, built a vast empire ranging from beverages to property.
His portfolio includes Thai Beverage Plc, Thailand’s largest whiskey and spirit producer; Fraser and Neave Ltd, a Singapore-based food and beverage giant; and Frasers Property Ltd.
Earlier this month, Frasers Property announced plans to privatise a real estate investment trust valued at 1.37 billion Singaporean dollars (US$1.1 billion), marking its second attempt to buy out the unit.
While Charoen steps aside, Thailand’s richest remains Dhanin Chearavanont, senior chairman of the Charoen Pokphand Group, with a net worth of US$15.2 billion.
He tops the Forbes World’s Billionaires 2025 list for Thailand and ranks 141st globally out of 3,028 billionaires. The United States leads the world with 902 billionaires, followed by China (including Hong Kong) with 516, and India with 205. Thailand has 25 billionaires on the list.
Other notable Thai billionaires include Sarath Ratanavadi, CEO of Gulf Development Plc, who ranks second nationally with US$12.9 billion and 184th globally, and former Prime Minister Thaksin Shinawatra, ranked 15th in Thailand with a net worth of US$2.1 billion, reported Bangkok Post.
On the global stage, tech giants continue to dominate. Elon Musk, co-founder of Tesla and head of Twitter, leads with US$342 billion, followed by Mark Zuckerberg of Meta at US$216 billion, and Jeff Bezos of Amazon at US$215 billion.
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