Wealthy winners

12 07 2021

moneybagsWith some of the rich in the news of late, it is timely that Forbes has released its annual list of Thailand’s wealthiest. Forbes includes 50 on its list, and PPT shows the top ten.

Recent news has the top tycoons, CP’s Chearavanont family, yet again denying “any involvement in the government’s procurement of the Sinovac Covid-19 vaccine from China.” This came after cabinet’s decision last Tuesday “to procure 10.9 million more doses of Sinovac at a cost of 6.1 billion baht.” The report has CP stating:

Charoen Pokphand Group once again insists the Sinovac vaccine procurement is conducted in a government-to-government (G2G) format only, which has nothing to do with CP either directly or indirectly….

The Bangkok Post report neglects to recall CP’s role in the company producing the vaccine, via CP’s Sino Biopharmaceutical. Given the tight links between the regime and the top tycoons, including the Chearavanont family, we can only wonder about the claims made and those denied.

And, of course, PPT has recently posted on the Yoovidh­ya family, who rank second, and their runaway scion and the efforts to (further) corrupt the justice system for the wealthy.

As usual, the Forbes list leaves out the fabulously wealthy monarch. We estimate his wealth as about double that of the Chearavanont family.

Richest

Comparing the most recent Forbes list to earlier data, it is seen that the wealth of the top 5 is not back to their 2018 high. However, the top 5 has increased by $13.6 billion over 2020. As for the top 10, they also remain below their 2018 high, but have added $15.5 billion over 2020.

This is in a context where per capita GDP declined between 2019 and 2020 by 6.3%. And, we’d guess it might also decline in 2021.


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27 07 2021
CP’s power | Political Prisoners in Thailand

[…] Recently said to be worth over $30 billion, up $3 billion over 2020,* CP and its Chearavanont family are Thailand’s wealthiest, after the monarch, and “CP’s domination of the Thai economy continues to grow…”. Its political influence is legendary. […]

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