From seed to fortune: The Chearavanont family’s billion-dollar rise
What started as a humble seed shop in Bangkok has blossomed into one of the world’s wealthiest empires. The Chearavanont family, with a staggering net worth of US$44.1 billion (approximately 1.5 trillion baht), ranks 19th on Bloomberg’s list of the 25 richest families globally. Here’s how they did it.
A century ago, brothers Chia Ek Chor and Chia Siew Whooy opened a small store selling seeds to Thai farmers. Fast-forward to today, and their venture, Charoen Pokphand (CP) Group, is a conglomerate powerhouse spanning 14 industries—from agriculture and telecommunications to retail and healthcare—operating in 21 countries with annual revenues of 97.28 billion.
Under the visionary leadership of Dhanin Chearavanont, the youngest of Chia’s sons, CP transitioned from a family-run business to a professionally managed corporate giant.
“Novices can only take a business so far,” Dhanin reflected in his autobiography, underscoring the importance of expert management. His bold moves, including persuading his brothers to relinquish managerial roles, allowed CP to scale unprecedented heights.
But success didn’t come without setbacks. The 1997 Asian financial crisis forced Dhanin to sell assets like a Chinese brewery and motorcycle firm—losses he later recouped with strategic acquisitions, including Ping An Insurance for 9.4 billion in 2012.
In recent years, CP’s influence has only grown. From acquiring Tesco’s Southeast Asian operations for 10.6 billion to merging telecom giant True with a rival, CP remains a key player in Thailand’s economy. Even during the Covid-19 pandemic, the group rose to the occasion, building a face mask factory and supporting relief efforts, reported VN Express.
Today, with Dhanin’s sons at the helm, CP continues to honour its legacy while shaping the future.
“The story of CP is the story of resilience, vision, and the spirit of Thailand.”
In related news, a millionaire from Dubai in the United Arab Emirates visited the adorable pygmy hippo Moo Deng at Khao Kheow Open Zoo in Chon Buri province.
