Bangkok: Chalerm Yoovidhya has once again secured his position as the wealthiest individual in Thailand.
According to Thai News Agency, Forbes has published its annual ranking of the 50 richest Thais for the year 2025, with Chalerm Yoovidhya and his family maintaining the top spot for the second year running. Their combined wealth has soared to an unprecedented $44.5 billion, bolstered by the rising revenues of Red Bull, which reported an annual intake of $12.9 billion in 2024 through global sales of nearly 13 billion cans.
The overall net worth of Thailand's 50 richest individuals has witnessed an 11% increase, climbing to $170.5 billion. This rise comes despite the country's economy facing slower growth due to trade tensions and political uncertainties. However, the strengthening of the Thai baht somewhat mitigated a 14% decline in the Thai stock market index. Another significant contributor to the increase in wealth was the Chearavanont siblings of Charoen Pokphand Group, who retained their position as the second-richest family with a 23% increase in wealth, amounting to $35.7 billion. Their strategic investments in digital infrastructure, including a $1 billion data center partnership with BlackRock, have been pivotal.
Sarath Ratanavadi, an energy and telecoms magnate, has climbed two spots to become the third-richest individual in Thailand, with assets totaling $12 billion. This leap was facilitated by the merger of Gulf Energy Development with Intouch Holdings, leading to the creation of Gulf Development. Meanwhile, Charoen Sirivadhanabhakdi, known for his ventures in the alcohol industry, saw his rank drop to fourth place with a net worth of $10.5 billion after redistributing shares to his children.
The Chirathivat family's wealth in the retail sector experienced a 13% decline to $8.6 billion, impacted by reduced consumer spending. However, a significant development was the acquisition of a 40% stake in luxury retailer Selfridges by Saudi Arabia's Public Investment Fund, with the Chirathivat family retaining a 60% stake through Central Group.
Notably, 19 billionaires experienced a decrease in their fortunes this year. Among them was coffee tycoon Prayuth Mahagitsiri, whose net worth diminished following the dissolution of a joint venture with Nestle. The list also saw the absence of two prominent tycoons, Wanich Chaiyawan and Phongsak Vittayakorn, following their passing. Their family's fortunes remain on the list under the Chaiyawan and Vittayakorn names.
Despite the reduction in the minimum net worth requirement for inclusion from $550 million to $420 million, four billionaires were dropped from the list. Renewable energy magnate Somporn Ahunai was notably absent due to financial difficulties faced by his company, Energy Absolute.
The 2025 ranking of the top 10 Thai billionaires is led by Chalerm Yoovidhya and includes the Chearavanont siblings, Sarath Ratanavadi, and Charoen Sirivadhanabhakdi, among others.