Thailand’s richest billionaires: Red Bull family stays No. 1 as top five’s fortune jumps $13B

Most of their rankings were unchanged, except for beer-to-property tycoon Charoen Sirivadhanabhakdi, who fell to fifth from fourth last year, according to Forbes.

Chalerm Yoovidhya & family

The Yoovidhya family, co-owners of the Red Bull energy drink empire, is led by Chalerm Yoovidhya.

The business was built by his late father, Chaleo Yoovidhya, who rose from humble beginnings to become one of Thailand’s wealthiest entrepreneurs after establishing the beverage brand. Chaleo later partnered with Austrian businessman Dietrich Mateschitz to take Red Bull global.

The firm posted annual revenue of about $13.9 billion in 2025, up more than 8% from a year earlier, with global sales reaching 14 billion cans.

The Yoovidhya family has held the top spot on Thailand’s rich list for three consecutive years. Their fortune is now estimated at $47 billion, up from $44.5 billion on last year’s ranking.

Chearavanont brothers

Dhanin Chearavanont speaks at a forum during the 12th World Chinese Entrepreneurs Convention in Chengdu, China, on September 25, 2013. Photo by Imaginechina via AFP

The Chearavanont brothers derive their fortune from agribusiness giant Charoen Pokphand (CP) Group, which they jointly own.

CP traces its roots to a small seed shop in Bangkok opened in the 1920s by their father, Chia Ek Chor, and his brother. It has since become one of the world’s largest producers of animal feed and livestock. It also has businesses spanning e-commerce, finance, healthcare and real estate.

The family’s wealth increased 2.5% over the past year to an estimated $36.6 billion.

One of the group’s notable developments this year was a telecom deal involving Arise Digital Technology, an investment company owned by Suphachai Chearavanont, a son of CP senior chairman Dhanin Chearavanont.

Arise agreed to acquire nearly a 25% stake in True from Telenor Group, with an option to buy another 5.4% within two years. Backed by CP, True is Thailand’s second-largest mobile operator.

Meanwhile, Dhanin’s grandson, Korawad Chearavanont, has been expanding his generative artificial intelligence (AI) startup, Amity.

The company announced a landmark US$100 million Series D funding round in March, followed by the launch of its office and AI Research & Application Center in Singapore late last month, according to The Business Times.

Sarath Ratanavadi

Sarath Ratanavadi, CEO of Gulf Energy Development. Photo from the company’s website

Sarath Ratanavadi, founder and CEO of energy producer Gulf Development, retained his position as the country’s third-richest person with an estimated net worth of $17.6 billion.

He recorded the largest gain in dollar terms on this year’s list, with his fortune climbing by $5.6 billion, or nearly 50%, from a year earlier.

Sarath plans to invest up to 140 billion baht (US$4.3 billion) through Gulf Development over the next five years to expand data centers and other infrastructure needed to support the AI boom, according to a Bloomberg report.

The company has also expanded beyond its core energy and telecommunications businesses. Earlier this year, Gulf nearly doubled its stake in Kasikornbank to almost 10%, making it the lender’s second-largest shareholder.

Chirathivat family

Tos Chirathivat, executive chairman and CEO of Central Group. Photo from the company’s website

The Chirathivat family’s wealth stems from Central Group, which traces its origins to a small family-run shop in Bangkok opened by the late Tiang Chirathivat.

Over the decades, the business has grown into Thailand’s largest shopping mall developer by net leasable area.

The family’s net worth rose 36% from a year ago to an estimated US$11.7 billion, supported by a gradual recovery in domestic consumption.

In March, Central Group’s retail arm, Central Retail, announced plans to invest 18 billion baht this year to renovate and expand its store network in Thailand and Vietnam.

As of 2025, Central Retail’s operations in Thailand included 76 department stores, 172 Tops outlets, 14 GO Wholesale stores, 88 Thaiwatsadu stores and 28 Robinson Lifestyle shopping centers, according to Bangkok Post.

Charoen Sirivadhanabhakdi & family

Charoen Sirivadhanabhakdi, founder of TCC Group, speaks at an event in Bangkok, Thailand in April 2017. Photo by Bangkok Post via AFP

The Sirivadhanabhakdi family’s wealth is built on TCC Group, the sprawling beer and property conglomerate established by Charoen Sirivadhanabhakdi in 1961 when he took over the liquor company he had once worked at.

The business empire now includes Thai Beverage, the country’s biggest drinks producer and maker of Chang beer, as well as packaging and consumer goods company Berli Jucker, which operates the Big C Supercenter hypermarket chain.

The family’s property portfolio, held under Singapore-listed Frasers Property, is now overseen by Charoen’s son, Panote Sirivadhanabhakdi.

Frasers has been making moves to revamp its portfolio, such as the sale of several industrial properties in Europe and a proposed restructuring of its hospitality assets.

Forbes estimates the Sirivadhanabhakdi family’s fortune at $11.5 billion, up 9.5% from a year earlier.