Even the wealthiest were hurt by Thailand’s military
Forbes came out with the latest top 50 richest individuals in Thailand and whilst the list has not changed that much it’s always good to see newcomers and interesting to note they are from the automotive, renewable energy and industrial real estate. However it is worthwhile pointing out that
Hopes of an infrastructure build-out boosted fortunes linked to that sector, bringing siblings Nijaporn Charanachitta and Premchai Karnasuta, who had fallen off last year, back into the ranks.
Three out of the six newcomers took their companies public, including Sathien Sethasit, cofounder of energy drinks producer Carabao Group, and Chatchai Kaewbootta of Srisawad Power 1979, which offers microloans mainly against cars and motorcycles.
But the aftermath of last year’s political turmoil took its toll. Of those returning to the list, 40% saw their fortunes go down as consumer spending got hit after the government pulled the plug on farm subsidies, and tourist arrivals, Thailand’s mainstay, dropped in 2014.
