Thailand's richest man changed owners! For the first time in 10 years! Red Bull Family Overtakes Xie Brothers to Top

survey shows that the stock market index has fallen 15% since last year due to the uncertainty of Prime Minister Saita's political future. This situation was further exacerbated by the devaluation of the Thai baht, with the overall wealth of Thai billionaires shrinking by nearly 12%, from $173 billion in 2023 to $153 billion (about 5.6 trillion baht).

wealth was the new No. 1: Tencel Group Xu Shuen and his family, whose wealth increased by $2.6 billion to a record $36 billion. Benefiting from Red Bull's energy drinks business, revenue from this business increased to more than $11 billion in 2023, with global sales of more than 12 billion cans.

, the fortune of the Tse Brothers of Chia Tai Group has fallen from $34 billion to $29 billion, dropping to second place this year. Part of the reason is that the group's Ping An Insurance shares plummeted, and the company's asset management business lost $2.7 billion billion in 2023.

Su Xuming, chairman of Thai brewing giant TCC Group, ranked third with a net worth of US $10 billion, down US $3.6 billion from last year. The Zheng family of Shangtai Group still ranked fourth with a net worth of US $9.9 billion, down 20% from US $12.4 billion last year. The group is understood to have increased its stake in London's iconic department store Selfridges to become its majority shareholder.

thai energy and telecommunications tycoon sarat rattanavadi was in fifth place. Its wealth has been growing steadily since it made the list six years ago. Wealth fell for the first time this year, to $9.2 billion from $11.3 billion in 2023.

Tencel Group Xu Shuen and Family

Net asset value of US $36 billion (about 1.32 trillion baht)

Business Type: Food & Beverage

Chia Tai Group Xie Brothers

Net asset value of US $29 billion (about 1.06 trillion baht)

Business Type: Integrated

TCC Group Chairman Su Xuming

Net asset value of US $10 billion (about 368 billion baht)

Business Type: Food & Beverage

Shangtai Group Zheng Family

Net asset value of US $9.9 billion (about 364 billion baht)

Business Type: Fashion and Retail

Thai energy and telecommunications tycoon Sarat Rattanawadi

Net asset value of US $9.2 billion (about 338 billion baht)

Business Type: Energy

Prasert Prasatthong Osoth

Net asset value of US $3.8 billion (about 139 billion baht)

Business Type: Healthcare

Kingship International Group

Aiyawat Srivaddhanaprabha and Family

Net asset value of US $3.6 billion (about 132 billion baht)

Business Type: Fashion and Retail

Thailand Life Insurance Company Honorary Chairman Hou Yeshun

Net asset value of US $3.3 billion (about 121 billion baht)

Business Type: Finance and Investment

Thailand Osotspa beverage business owner Osathanugrah family

Net asset value of US $2.2 billion (about 81 billion baht)

Business Type: Food & Beverage

Coffee King, PM Group Chairman Chen Baokun

Net asset value of US $2.15 billion (about 79.1 billion baht)

Business Type: Food & Beverage

via Thailand Lan Elephant Network