Forbes, the globally recognized business publication, unveiled its 2025 list of Thailand’s 50 wealthiest individuals on its website Wednesday. The compilation provides a detailed snapshot of the country’s most prominent business figures, highlighting shifting fortunes of Thai families and individuals.
Thailand’s economic expansion has slowed, hindered by ongoing trade friction and increasing political instability. Despite a 14% drop in the stock market index over the past year, gains from a firmer baht, coupled with substantial wealth increases among the top three families, drove overall combined wealth up by over 11% to $170.5 billion.
Nearly half of the names on the rich list saw their net worths rise, with the most significant increase coming from the Red Bull dynasty led by Chalerm Yoovidhya. They remain atop the rankings for the second consecutive year, as their family fortune surged by $8.5 billion to a record $44.5 billion. This leap was fueled by Red Bull’s global sales, which hit almost 13 billion cans and generated revenues of €11.2 billion ($12.9 billion) in 2024.
The Chearavanont brothers of Charoen Pokphand Group held on to the second spot, seeing their combined net worth rise 23% to $35.7 billion. The conglomerate is investing further in digital infrastructure, partnering with BlackRock to pour $1 billion into building data centers. Their fintech arm, Ascend Money, also secured approval to launch a virtual bank in Thailand.
Sarath Ratanavadi, who oversees energy and telecom interests, climbed to third place with assets totaling $12 billion. His ascension was driven by the successful merger of Gulf Energy Development and Intouch Holdings—followed by the market debut of the merged company under Gulf Development in April.
Charoen Sirivadhanabhakdi, a beverage sector titan, saw his net worth steady at $10.5 billion, though he slipped to fourth in the rankings. In May, he transferred company shares to his five children, but as the group’s founder, his wealth is still attributed to his own tally.
The Chirathivat family, at the helm of Central Group, experienced a 13% drop in wealth to $8.6 billion, pressured by subdued consumer confidence. Last October, the family welcomed Saudi Arabia’s Public Investment Fund as a new partner, which bought a 40% stake in Selfridges from Signa Holdings of Austria; Central retains a 60% share.
Nineteen listees saw their net worths decline over the past year. Notably, coffee tycoon Prayudh Mahagitsiri suffered a setback following the end of PM Group’s longstanding partnership with Nestle.
The rich list also saw two prominent losses with the passing of Vanich Chaiyawan, chairman emeritus of Thai Life insurance, and Pongsak Viddayakorn, a cofounder of Bangkok Dusit Medical Services who later started Principal Capital. Their legacies continue under their respective family names in the rankings.
Meanwhile, the entry threshold for the list dropped to $420 million from last year’s $550 million, yet four fell off the list altogether. Among the notable departures is Somphote Ahunai, the renewable energy entrepreneur, whose company Energy Absolute has recently faced financial pressures.
Overall, the 2025 Forbes list reflects both resilience and volatility at the top of Thailand’s wealth spectrum, with fortunes significantly shaped by global consumption trends, sector-specific strategies, and shifting domestic economic and political currents.
