The 40 richest men in Thailand

The political tension is still palpable, but Thailand's transition to a relatively calm period after last year's violence has caused stock prices and the economy to grow strongly.

The SET 50 stock index rose a whopping 21,7% over last year, the biggest increase in 15 years. The Thai baht rose 6,1% against the dollar over the same period. The Gross National Product is expected to rise by 2011% in 4. Yingluck Shinawatra's big election win in July will consolidate growth and tourism and exports will also benefit.

45 billion dollars

Into the tycoons Thailand grow with prosperity. The combined wealth of the 40 richest Thais increased by 25% to an amount of 45 billion dollars. Thanks to this growth, Thai industrialists can invest heavily in foreign projects.

Three-quarters of Thailand's super-rich have become even richer this year. The biggest winner is Prasert Prasarttong-Osoth (No. 17). He saw his capital increase by 138%. He owes this increase to the success of “his” Bangkok Airways Public Company. And the spectacular rise in the share price of the Bangkok Dusit Medical Services Group. He founded this commercial healthcare provider with fellow physician Pongsak Viddayakorn (No. 28). His net worth also rose by 121%, making him the second biggest winner on this year's list.

Dhanin Chearavanont, owner of agro-industrial conglomerate 'Charoen Pokphand Group', remains number one on the list, with a net worth of $7,4 billion. In second place is Chalee Yoovidhya, co-owner of Red Bull. His fortune is $5 billion. He is closely followed by whiskey king Sirivadhanbhakdi Charoen with $4,8 billion. The top 3 in the list of Thailand's richest men owes this mainly to the increasing consumer demand for their products.

Thaksin

Another remarkable fact was the growth in the wealth of former Prime Minister Thaksin Shinawatra (No. 19). Thaksin saw his wealth increase by 53% to $600 million. This thanks to a stock split and a doubling of the share price of SC Asset, the real estate owned by the family. After his younger sister Yingluck became prime minister, Thailand's finance ministry has confirmed that there will be no legal regulation to release $40 million in frozen assets belonging to Thaksin's children. This amount is therefore not included in the valuation of Thaksin.

 newcomers

The two newcomers on the list have risen from the ashes of the 1997 financial conflagration. Prachai Leophairatana, the former billionaire, was known as Thailand's biggest defaulter with $3,8 billion in debt. His Thai Petrochemical Industries became defunct. But he's back on the list. Part of his remaining empire, the cement producer TPI Polene, hit its highest share price in three years. As a result, this controversial $300 million tycoon came in as number 29 on the list.

Young Pete Bodharanik, after restructuring corporate debt, has brought telecommunications company 'Jasmine International' back to profitability. The share price of 'Jasmine' has quintupled over the past 15 months, resulting in a 34th place on the list. Despite this, the value of the company, founded by father Bodharanik Adisai, is only a fraction of the billions it was once worth in the 90s.

To hand in

Three wealthy dropped significantly on the list. Developer Thongma Vijitpongpun's (No. 11) lost 13% due to the depreciation of the shares of his Pruksa Real Estate. The decrease in value is due to the collapse of the housing market. Net worth of Wit Viriyaprapaikit (No. 25) fell 5%, due to a lower share price of Sahaviriya Steel Industries. The reason for this can be found in the negative figures for the second quarter, caused by necessary investments in the recently acquired factory in England. Keeree Kanjanapas (no. 16), tycoon and owner of the Skytrain, also had to settle for a drop of 3%. This is due to the fall in value of the shares of BTS Group Holdings.

Here is the complete list of 40 richest Thai: Forbes.com

Translated from Forbes (USA)