King’s reward

2 02 2021

Usually the monarchy and military get most of our attention. But we have long posted about the tripod of oligarchy and power in Thailand, with the third leg being Sino-Thai tycoons. They’ve given billions to the monarchy and lots of ideological support and they’ve done the same for Thailand’s nasty military regimes.

In an announcement a couple of days ago, the king provided rewards for quite a bunch of the plutocrats.

The Bangkok Post reports highlights that “Suthikiati Chirathivat, chairman of the board of Bangkok Post Plc and chairman of the board of Central Plaza Hotel Plc. He is one of seven people awarded the Knight Grand Cordon (First Class) of the Most Noble Order of the Crown of Thailand.” The capitalists love these awards because they show acceptance and put them close to the monarchy and all the benefits that provides and has provided them for decades.

It reports that others who were repaid for their “loyalty” included:

Prasert Prasarttong-Osoth, the founder of Bangkok Dusit Medical Services Plc; Santi Bhirombhakdi, executive chairman of Boonrawd Brewery Co; … Chattip Tanthaprasas, president of Nitipeerachat Law Office; Polapee Tulyasuwan, managing director of Nitipeerachat Law Office, and Aswin Techajareonvikul, chief executive officer of Berli Jucker Plc.

We are not sure what services the Nitipeerachat Law Office provided. Maybe a reader knows?

But this report is somewhat sneaky, leaving out the big names. Prachatai (in Thai) reproduces the Royal Announcement and the names include all the whales of the Sino-Thai tycoons. First listed is CP’s Dhanin Chearavanont, second is Charoen Sirivadhanabhakdi of ThaiBev, third is Charoen’s wife, Wanna, and the others on Thailand’s rich list follow: a bunch of Lamsams, more Chearavanonts, more from the Sirivadhanabhakdi clan, more Bhirombhakdis, Pornpraphasand so it goes on.

Whole families seem to have been royally anointed. This appears as a thank you award for Sino-Thais supporting the king.

We wonder if those not listed aren’t being urged to do more?

 

 





Coup booster promoted

26 04 2020

Long-time readers will recall that the 2014 military coup required months of street-based royalist, rightist, anti-Thaksin/anti-Shinawatra activism. Led by the loud-mouthed former Democrat Party deputy leader Suthep Thaugsuban, the People’s Democratic Reform Committee publicly pleaded and privately plotted with Gen Prayuth Chan-ocha throw out the elected government.

Suthep had several deputies, some of whom now working with the regime and having well-paid sinecures, with others having been appointed to various bodies by the coup masters.

Chitpas opposing lese majeste reform (a Bangkok Post photo)

One of his deputies was the Boonrawd Brewery family heiress Chitpas Bhirombhakdi, who later changed adopted a royal family name, Kridakorn. A Khaosod report says she is “the eldest daughter of Singha executive vice-president Chutinant Bhirombhakdi. She currently serves as a deputy secretary of the Democrat Party and a party-list MP.” It reports that she’s back on the junta/post-junta payroll. But, first, some more background.

In a post in 2013, we had this:

The first story at Reuters is regarding “prominent Thais” who have joined the protests. First mentioned is the selfie-photogenic Chitpas Bhirombhakdi who at 27 and with nearly 2,000 Instagram photos of herself posted, is not just a self-indulgent and self-important upper class youngster, but is also “heiress to a $2.6 billion family fortune and, according to high-society magazine Thailand Tatler, one of Bangkok’s ‘most eligible young ladies‘.” The report notes:

Chitpas, whose family owns the Boon Rawd Brewery that makes Singha Beer, had dismounted the machine [a bulldozer that was to bust police barricades] long before police pelted it with rubber bullets and gas canisters. But her gung-ho act showed how members of Thailand’s most celebrated families are discarding all past pretence [sic.] of neutrality to hit the streets in the hope of toppling Prime Minister Yingluck Shinawatra.

We understand that several tubes of expensive moisturizer helped after the bulldozer scamming for headlines. Chitpas may be young for Thai politics, but her interests are with the old men who want to keep their hands on the political tiller. She supports harsher lese majeste laws – her family’s beer interests were initially co-invested with the then king back in the early 1930s.

Our most recent post (that we recall) on Chitpas had more:

Chutzpah, egotism, smugness, vanity, audacity, cheek, conceitedness, contemptuousness, disdainfulness, gall, high-handedness, imperiousness, pomposity, self-importance, self-love, superciliousness, overbearance and scornfulness are just some of the words that come up as possible synonyms for arrogance.

Whatever it is described as, Singha beer heiress Chitpas Kridakorn aka Boonrawd has it in bulldozer loads.

In a Ripley’s style story, she is reported to be “seeking assistance from a Justice Ministry fund to help defendants meet court bail has been given until June 21 to submit a list of her assets and verify she is a low-income earner registered with the government.”

She’s heir to a fortune that currently stacks up to some $2.4 billion.

Despite this pile of cash, shares, houses, cars, planes and more, Chitpas “filed a request on May 28 that the Justice Fund place money as bail surety in legal cases against her arising from the street protests against the Yingluck Shinawatra government.”

It seems that her legal troubles she has been “appointed to the House Committee on police affairs on Thursday.” She’s gone from leading protesters to vandalize Police HQ, to trying to “join” the police, to now overseeing the police.





Tycoon panic

23 03 2020

Thailand’s Sino-Thai tycoons, many of them in retail and basic consumer goods, have probably done better than most as the virus crisis bites.

However, their panic looks class-based as they worry about “disunity,” with the headline, “Tycoons urge unity amid chaos.”

The story has them “urging members of the business community to join hands with the government in cushioning the economic impact of the Covid-19 outbreak…”.

Thai Chamber of Commerce chairman Kalin Sarasin says that tycoons “including Charoen Pokphand Group’s Dhanin Chearavanont, Singha Corporation’s Santi Bhirombhakdi, Saha Pathanapibul’s Boonchai Chokwatana, and TCC Group’s Charoen Sirivadhanabhakdi…” have agreed on measures to “help soften the blow of the coronavirus outbreak.”

As far as we can tell, they are most interested in PR.

Will they do anything to “strengthen… the competitiveness of SMEs, enhanc[e]… workers’ skills and bridg[e]… income gaps”? We doubt it. They’ve done next to nothing for decades in these areas as their own empires have expanded and they have become monumentally rich.

In any case, the Chamber seems to want government to do the work. As Kalin said, “TCC’s suggestions are always well accepted by the government.”

And, they reiterated the usual blarney: “Kalin said these tycoons also praised the TCC’s efforts in supporting the government’s Pracharath scheme, promoting good governance and adopting the sufficiency economic philosophy.”

In other words, the tycoons are protecting their interests and ideologically barricading themselves.





Updated: Arrogant heiress cries poor

8 06 2018

Chutzpah, egotism, smugness, vanity, audacity, cheek, conceitedness, contemptuousness, disdainfulness, gall, high-handedness, imperiousness, pomposity, self-importance, self-love, superciliousness, overbearance and scornfulness are just some of the words that come up as possible synonyms for arrogance.

Whatever it is described as, Singha beer heiress Chitpas Kridakorn aka Boonrawd has it in bulldozer loads.

In a Ripley’s style story, she is reported to be “seeking assistance from a Justice Ministry fund to help defendants meet court bail has been given until June 21 to submit a list of her assets and verify she is a low-income earner registered with the government.”

She’s heir to a fortune that currently stacks up to some $2.4 billion.

Despite this pile of cash, shares, houses, cars, planes and more, Chitpas “filed a request on May 28 that the Justice Fund place money as bail surety in legal cases against her arising from the street protests against the Yingluck Shinawatra government.”

Chitpas is described as “a co-leader of the former People’s Democratic Reform Committee (PDRC), cited her waiting for financial assistance from the Justice Fund as a reason for the delay” in answering the charges against her.

Some dopey senior official babbled that Chitpas may have fallen on hard times: “In the past, she may have been wealthy but maybe she no longer had the means to meet her bail requirements…”. Yeah, right.

After that astoundingly farcical babble, the same senior official said the “ministry would ensure the fair treatment of all applicants [for state funds] and examine any documents submitted. Ms Chitpas’ request would be approved, or not, depending on the documentation…”. He became delirious when he said the “ministry did not have a double standard and was willing to help all groups and people if they met the fund’s requirements.”

Well, yes, but he’s saying this in the context of a multi-billionaire to be.

Justice deputy permanent secretary Thawatchai Thaikhiew scoops the pool in awards for the most ridiculous statement by an official in June. He gets a bag of hammers.

Chitpas is simply reprehensible.

Update: Some pro-Chitpas social media reckon she’s been disinherited by the Boonrawds. As far as we can see, there’s no evidence for this claim.





Updated: Suthep demands more dictatorship for longer

18 03 2017

The People’s Democratic Reform Foundation (PDRF) is the legalistic renaming of the anti-democratic People’s Democratic Reform Committee to allow it to keep operating under the junta it helped seize power in 2014.

It is still led by Democrat Party stalwart Suthep Thaugsuban, who “left” the party to arrange his anti-democratic actions opposing elections and the elected government led by Yingluck Shinawatra. Its bosses remain those anti-democratic elite and Democrat Party (former) members, Sathit Wongnongtoey, Akanat Promphan, Chitpas Kridakorn (Bhirombhakdi), Thaworn Senniam, Nattapol Teepsuwan, Chumpol Julsai and Sakoltee Patthippayakul.

It was this group that recently met with representatives of the military junta for “reconciliation talks.”

Readers might be surprised to learn (or maybe not) that, almost three years after he got the coup he wanted, Suthep “remained firm in its stance of ‘reform before election’, saying it did not mind a delay in the holding of the next election.”

Suthep and his clutch of anti-democrats also declared their full support for “absolute power under Article 44 of the interim charter” and claimed it “was not a problem for reform. Suthep said it as an opportunity for the junta to effectively reform the country.” We know he supports the murderous military and we guess he would also support military courts, torture and all manner of draconian measures against his political opponents.

Of course, we also know that Suthep hates elections, not least because his party never won one in its own right, and repeatedly hung off the military and royal coattails.

Likewise, it is no surprise that this group of anti-democrats “admitted to being fans of junta head General Prayut Chan-o-cha and the desire to complete key reforms.” Why wouldn’t they be? It was Suthep who claimed that he had worked since 2010 with General Prayuth on ways and means for preventing a Thaksin Shinawatra-aligned government from getting elected and then, if it did, on bringing it down.

Suthep and his cronies met with the junta’s people for “four hours of reconciliation talks” after which Suthep declared or maybe even threatened: “We’ve made the point in the meeting that the masses expect the National Council for Peace and Order [the junta] and the government led by [Prayuth] to finish the reforms so the country can continue as a democracy with the monarch as the head of state.”

Suthep, who spent many years as a Democrat Party powerbroker and politician chortled about “politics” being a problem: “Politics has to serve the people. In the past, it was [dominated by] politicians and financiers as well as interest groups. It’s never about the people…”. Because his party was resoundingly defeated time and time again, we can understand his reluctance to accept the will of the people.

Remarkably, as if Thailand’s elite is still under threat, he grasps the monarchy shibboleth by the throat and thunders: “Most importantly, political parties must be run by people who support democratic rule with the monarch as the head of state, not a republic.”

That purported danger justifies for Suthep, and his gaggle of anti-democrat scions of the elite, continuing military dictatorship. He reckons “the people” don’t want an election any time soon.

If the message wasn’t clear, Suthep stated: “The PDRF has no concerns over the NCPO staying in power so long as it works to push reforms.” He added that his support for “the military and Gen Prayut … was never hidden…”.

Update: And just in case anyone was wondering, the Bangkok Post reports that Suthep declined “to say whether his group would accept the outcome of the next election in the event that the Pheu Thai Party wins the poll.”





Planes, trains and beer

5 02 2017

What do planes, trains and beer have in common? The answer is they are all great money spinners.

On planes, despite the junta having ordered that only one agency deal with the poor, confused British Serious Fraud Office, multiple agencies are still trying to appear that they are doing something about money-spinning corruption.

The Bangkok Post reports that “Rolls-Royce has refused to supply information about its bribery admission involving Thai Airways International (THAI) with the national flag carrier’s probe panel.”thai-rr

Refused! Wow! Thai Airways really want to find out! Who did get “kickbacks totalling 1.28 billion baht, which were allegedly paid to help the British firm secure deals with the carrier”?

So they went to RR, not the SFO. The carrier’s president “revealed” that “a request for information linked to the graft, Rolls-Royce refused to share it with THAI’s probe panel, saying the information it gave to the SFO was confidential…”.

Just to confuse the SFO, the president said his company “had also asked the SFO for relevant information on Jan 24 and the British anti-graft authority replied it would respond to the request within 20 days…”.

He added that “the national carrier stood ready to supply all related information to state agencies tasked with probing the case.” He finally came around and said: “As for the inquiry into who received the bribes, the NACC will play a key role in investigating the matter. So results of the NACC’s probe, which is gathering information from all sides, must first be concluded…”.

Finally, he “conceded it is unlikely that THAI would be able to receive information from other parties apart from what has already been publicised.”

So what was the point of the story? And why go to RR? We assume its to confuse things. After all, commissions are lucrative and running interference may maintain that source of wealth.

Another Bangkok Post story tells readers about trains and some other forms of transport. It says that the junta’s “raft of big-ticket infrastructure projects has grown to 2.2 trillion baht in value…”. That seems to us math-challenged dopes to be $68 billion. Agents, contractors, top bureaucrats, not to say Chinese state transport and engineering firms, must be counting the money in their dreams. And this is only the big ticket items.trains

Finance Minister Apisak Tantivorawong says these projects are meant to power the economy. All other sectors, apart from tourism, seem to have tanked. The problem with this “infrastructure Keynsianism” is that the wealth created is mostly captured by the royalist elite and Sino-Thai tycoons.

So how does beer fit the pattern?

Yet another Bangkok Post account asks, in an editorial, why people are fined for producing “craft beers.” It cites Prime Minister, Dictator, General and expert on everything, Prayuth Chan-ocha and why it it so problematic to make “craft beers and microbrews to go on sale legally.” He babbled about “[c]onsumer safety, fair trade and an ability by producers to maintain standards and take responsibility if things go wrong…”.

Odd, we thought, aren’t there microbreweries all over the place? Even in the provinces, and for decades past.

Why the sudden worrying about these? The story gives a hint:

The news report [on the fining of a craft brewer] sparked outrage online as many people questioned whether it was time the government recognised the increasing demand from consumers for diverse kinds of beer instead of relying on a few well-established brands.

They also believe that opening up the monopolised beer market will nurture innovation, create equal opportunities for aspiring brewers and foster fairer competition which will benefit consumers in the end.

… One notable question that has come up during the craft beer debacle is whether it is necessary for the government to only give licences to beer producers on an industrial scale.

Under the finance minister’s order in 2000, only two types of licences are available for beer production. The first is for large-scale industries with a capacity of no less than one million litres a year. The second is for brew pubs, which have to produce at least 100,000 litres a year for sale onsite with no bottling.

beersWho is being protected? Of course, its royalists and the astoundingly rich who operated with huge profits. Boonrawd Breweries and ThaiBev.

The former goes back to the period before 1932 and the company and the scions of the Bhirombhakdi family have long supported royalist and, more recently, anti-democrat causes.

The latter has managed to establish one of the largest alcohol and land empires in the country. It, too has allegedly funded anti-democrats and is a big donor to the palace.

It has recently been in the news, getting a contract approved by the junta without competition to run a huge convention facility for another 25 years as nominal rent. And, of course, it’s been in the news over why it pays a top cop as an adviser? Perhaps the answer is in The Dictator’s comments?





Things that make you think

15 01 2017

There lots of stuff that goes on in the junta’s Thailand that causes you to wonder and think about motivations and machinations.

PPT’s perusal of the Bangkok Post today produced two such moments.

The first Bangkok Post story had us wondering…

The first paragraph was pretty much palace propaganda-like, with the king reported as having “reiterated the importance of children, urging the government to enhance the education system as a key part of the country’s development…”.

Prayuth Puppetry

Who is the puppet?

That’s pretty standard. But then we learn that this is not the king speaking, but The Dictator, General Prayuth Chan-ocha.

Speaking at a ceremony marking National Children’s Day, The Dictator becomes the voice of the king and explains an apparently close relationship:

“… the [k]ing told me many times to give priority to children both in terms of education and the country’s development. He also wants the government to enhance the discipline of Thai children, which will result in orderliness and knowledge development of Thai people….

That sounds a lot like Prayuth’s voice rather than the king’s.It does seem a little out of the ordinary for a premier to speaking for the monarch. Is Prayuth out of line? Or are he and the king best buddies?

Just for good measure, The Dictator invokes the dead king: “During the rest of my term in office, I want all Thais to do good to follow in the footsteps of the late monarch, who was always concerned about his people…”. That is more the invocation we are used to from prime ministers.

The second Bangkok Post story is a tale of two parties and had us thinking of double standards and political machinations.

The About Politics column reflects on the floods in the south.

(Naturally enough, these floods can’t be blamed on Yingluck Shinawatra was the case in 2011. This time the culprit is not a government or a party, but the weather.)

The story praises “recovery operations” and singles out the so-called Muan Maha Prachachon for Reform Foundation.

Who is the puppet?

Who is the puppet?

This is the “foundation” established by anti-democrat boss Suthep Thaugsuban, as a post-coup vehicle for the People’s Democratic Reform Committee (PDRC) and others who temporarily or momentarily left the Democrat Party in order to engage in street activism to prevent elections and bring down an elected government.

Unlike the Puea Thai Party and red shirts, the Democrat Party and the Muan Maha Prachachon for Reform Foundation have not been sued, harassed, arrested, jailed and suppressed by the junta. After all, they did a lot to foment the coup that brought the military thugs to power.

Suthep and other “key leaders of the now-defunct People’s Democratic Reform Committee (PDRC) have sprung into action, including Chitpas … Kridakorn [Bhirombhakdi], Chumphol Julsai and Isara Somchai” have been active in the region.

Most important has been Witthaya Kaewparadai, described as “Suthep’s right-hand man in this operation.”

As is well known, Witthaya is a former Democrat Party MP for Nakhon Si Thammarat. This former MP is said to have been an asset in relief operation having “helped boost the efficiency of distribution of essential supplies.”

Like us, many readers will wonder at this. The junta doesn’t like “politicians” meddling in anything. But, then, Witthaya is also a “member of the coup-appointed [puppet] National Legislative Assembly (NLA),” and this “secures coordination among state agencies and the military which need a go-between to bring help to where it is needed.”

Readers are then told that:

Since the PDRC protests, Mr Witthaya has remained active in his constituency, but his focus has been on community work. He has founded a cycling club where members do the necessary legwork to keep fit and the brainwork by discussing problems facing their community. This cycling club is said to be the biggest in the region.

The reports goes on:Kissing soldiers

The Muan Maha Prachachon for Reform Foundation’s contribution to flood rescue and relief operations can be no less; most of the flood victims are the very same people who kept the group’s street protests going in Bangkok during 2013-2014.

In other words, the PRDC-Democrat Party are catering to their members and supporters.

Imagine what would happen if a former MP from Puea Thai who was also a red shirt was doing something similar in the north or northeast. Sedition charges would be pending!

We learn more about these double standards when the report states:

While the former PDRC leaders are out there working in flood relief operations, the Democrat Party which has a political stronghold in the region is helping quietly, staying out of the spotlight due to a political ban by the National Council for Peace and Order (NCPO).

But they are indeed working there, with the PDRC. An unnamed source says: “People think the PDRC and the Democrat Party are no different. It doesn’t matter who leads the flood relief efforts…”.

“Election” preparations and electioneering are permitted in the south. Indeed, the military and junta facilitate them.

Double standards? You bet.

These double standards are reinforced in another story, in the same column, about the problems facing Puea Thai.

The party has few resources left and former party MPs are complaining that they are being left to their own devices and resources, with little help from the party or the “party’s heavyweights.”

Party leaders are tied up in a myriad of legal actions – hundreds of them – brought by the junta.

The longer the junta delays an “election” – some now suggest 2020, only partly tongue-in-cheek – the worse it gets for Puea Thai. And don’t think the junta doesn’t know this. All the talk of cremations delaying the “election” or the king making changes will be used as excuses for no “election.” However, one thing the junta wants is for Yingluck Shinawatra’s case and related cases against Puea Thai to be concluded this year.

The junta believes these cases will cause the collapse of Puea Thai. Once that happens, the junta can better control the “election” outcome.





Rich fascist fails to get her way

24 09 2015

Social media has been buzzing since it was leaked that Chitpas Bhirombhakdi-cum-Kridakorn wanted to join the police in a “special position” said to be a “hard-to-filled post reserved for specialists only.” The “special position” looked for a “qualification” that wanted “English proficiencies.”

That sounds remarkably like someone creating a position for a friend.

Chitpas was one of the driving forces in the anti-democrat People’s Democratic Reform Committee, following her resignation from the Democrat Party so she could engage in illegal acts.

Why Chitpas wanted such a position when she is fabulously wealthy. She refuses to say, but we can guess that, as a supporter of the coup and military dictatorship, this was a political appointment.

Her appointment – oops, sorry, “selection” – was opposed by her political opponents.

Tearfully withdrawing, the Boonrawd heiress stated: “I deeply regret that I don’t have enough luck to join the police and wear a police uniform to be a people’s protector…”.

Of course, “luck” has nothing to do with it. She was just dumbfounded that her wealth and politics didn’t get her a “position” or sinecure she absurdly coveted. Rich and well-connected people are used to getting their way Thailand.

We are sure she has thrown the appropriate tantrum and is scheming political revenge.





Further updated: Suthep re-enters politics

28 07 2015

Much of the media commentary about Suthep Thaugsuban leaving the monkhood has been about his declaration that he will no longer be involved in politics.

Suthep

A Bangkok Post photo

Suthep entered the monkhood not that long after the coup, as a kind of political exile, and after a couple of slaps from the military dictatorship on commentary he made about the coup and his People’s Democratic Reform Committee links to the military’s planning of the coup.

Like others with a penchant for mobilizing people, be it Thaksin Shinawatra, Sondhi Limthongkul or even Chamlong Srimuang, the military is suspicious of them.

Hence, Suthep’s declaration that he is not re-entering politics is something of a ruse.

For one thing, saying he is done with party politics is not saying much when the military dictatorship has sent parties to the wilderness. Parties are more or less defunct and those drafting the new constitution have tried to make them less significant into the future.

Second, during the PDRC campaign against Yingluck Shinawatra’s government, much of the rhetoric was driven by royalist notions that are anti-party and a anti-politician, so an immediate return to party politics would be a denial of that anti-democratic ideology.

Third, it is noticeable that Suthep remains politically engaged. Photographed in his PDRC livery emphasizing monarchy and nation, Suthep stated that he “plans to join a foundation that other former protest leaders have established,” allegedly “to promote vocational education and other grassroots projects.” When he states that “I will work with the Foundation of the Great Mass of the People for Reform of Thailand. I will never go back to run in an election ever again. But I will be working in civil politics alongside the Great Mass of the People for the benefit of our country.”

In a sense, this is an acknowledgement of the post-politician/post-party politics that will be acceptable to the royalist elite and the military dictatorship. Suthep has re-entered politics in a space delimited by the military.

Update 1: As if on cue, Army chief General Udomdej Sitabutr has warned Suthep to steer clear of political organizing.

Update 2: The military dictatorship’s concerns regarding Suthep’s re-entry into politics has been shown in a statement by The Dictator. General Prayuth Chan-ocha “admitted yesterday he was concerned that politician Suthep Thaugsuban … has become politically active once again.” Prayuth was expressing concern about a press conference scheduled for Thursday that “will be the first time since the coup in May 22, 2014, that 12 PDRC leaders will officially get together to continue their push for reform.” Prayuth and Suthep

As Chairman of the so-called Foundation of the Great Mass of the People for Reform of Thailand, Suthep will attend the event. So will all of the other anti-democrat leaders: Sathit Wongnongtoey, Thaworn Senniam, Issara Somchai, Witthaya Kaewparadai, Akanat Promphan, Chumpol Chulasai, Chaiwut Bannawat, Puttipong Punnakan, Sakoltee Phattiyakul, Natthapol Theepsuwan and Chitpas Bhirombhakdi-Kridakorn.

The “foundation” will consider its “strategy to support ‘reforms’ according to the six-point proposal initiated by Suthep himself…”.

 





Rich still doing very well

6 06 2015

Forbes has published its latest Thailand Rich List. There are no real surprises for the mega-rich in Thailand continue to do well through political instability and military coup. The ranking of Thailand’s 50 richest is available from Forbes.

CP’s agribusiness tycoon, the aging Dhanin Chearavanont, is the country’s richest man with a net worth of US$14.4 billion. Next is beverages and land tycoon, Charoen Sirivadhanabhakdi,with a net worth of $13 billion. moneybags

The list does not include the monarchy, which is covered in another Forbes listing. The monarchy’s combined wealth, which is mostly managed by the Crown Property Bureau, is variously estimated at $40-50 billion. This is equivalent to the total combined wealth of the top 3-4 tycoons in this Forbes list.

Most of those on the list have close connections to the palace, although they are big enough to split their bets when there is political agitation. As we noted last year, since 2011, the assets of the mega-rich have increased very substantially, and this has continued in this listing.

Thaksin Shinawatra and his family ranked 10th, as they were in the last listing, with the same combined assets:

Dhanin Chearavanont; US$14.4 billion
Charoen Sirivadhanabhakdi; $13 billion
Chirathivat family; $12.3 billion
Chalerm Yoovidhya; $9.6 billion
Krit Ratanarak; $4.7 billion
Vanich Chaiyawan; $3.95 billion
Santi Bhirombhakdi; $2.9 billion
Prasert Prasarttong-Osoth; $2.8 billion
Vichai Srivaddhanaprabha; $2.5 billion
Thaksin Shinawatra; $1.7 billion

Forbes states: “This list was compiled using shareholding and financial information obtained from the families and individuals, stock exchanges and analysts, the Stock Exchange of Thailand and regulatory agencies.” It is not clear whether it includes land holdings.