Thailand Forbes Rich List: 'Red Bull Family' Retains Top Spot

Forbes magazine recently released its 2025 list of Thailand's top 50 richest individuals. Among them, Red Bull Group's Chuchart Yoovidhya and his family have retained the top spot as Thailand's richest for the second consecutive year, with a net worth of 1.44 trillion baht (about RM187.8 billion). The Chearavanont family of Charoen Pokphand Group remains in second place, with a net worth of 1.16 trillion baht (about RM151.3 billion).

According to Thai Headlines News Agency on the 5th, despite global trade tensions and increased political uncertainty in Thailand leading to economic growth falling short of expectations, the appreciation of the baht has to some extent offset the negative impact of the stock market decline (down 14% compared to last year). Meanwhile, the top three wealthiest individuals saw significant increases in their fortunes, driving the total assets of all individuals on the list to grow by more than 11% year-on-year, reaching US$170.5 billion.

● Red Bull's global sales near 13 billion cans

Among this year's listees, about half achieved a net asset increase. The greatest increase was seen by the Red Bull Group's Yoovidhya family, whose key figure Chuchart Yoovidhya has topped the list for two consecutive years, with family assets rising to US$44.5 billion—a record high. This growth was driven by a surge in Red Bull's 2024 revenue to 11.2 billion euros (about US$12.9 billion), with global sales approaching 13 billion cans.

Ranked second once again is the Chearavanont family of Charoen Pokphand Group, with a net worth of 1.16 trillion baht, up 23% year-on-year. The group continues to expand its digital infrastructure investments and recently partnered with global asset management giant BlackRock to invest US$1 billion to build a data center. Meanwhile, its fintech subsidiary, Ascend Money, also obtained a virtual banking license.

Energy and telecom giant Sarath Ratanavadi rose two positions this year to enter the top three for the first time, with a net worth of 390 billion baht (about RM50.87 billion). Sarath merged Gulf Energy Development with Intouch Holdings, and in April this year, relisted under the name Gulf Development, which significantly boosted his personal fortune.

Beverage and alcohol tycoon Charoen Sirivadhanabhakdi and his family fell to fourth place, with assets remaining around 341 billion baht (about RM44.48 billion). In May this year, Charoen transferred part of his stake to his five children; however, as the group's founder, the assets are still counted under his name.

Retail giant Central Group’s Chirathivat family saw a 13% drop in assets to 279 billion baht, due to sluggish domestic consumption. In October 2023, Central Group and Saudi Arabia's Public Investment Fund (PIF) reached an agreement for PIF to acquire 40% of its luxury department store brand Selfridges, with the group retaining the remaining 60%.

A total of 19 individuals on the list experienced a decrease in net assets this year. Among them, coffee magnate Boonrawd Srichawana saw his fortune shrink significantly after terminating his joint venture with Nestlé.