Latest news with #ChalermYoovidhya
Mint
06-07-2025
- Business
- Mint
$44.5 Billion! Founding family of this energy drink empire now rules Thailand's rich list
Red Bull co-owner Chalerm Yoovidhya has emerged as the richest individual of Thailand this year with a net worth of $44.5 billion. This staggering growth is fueled by a surge in Red Bull's global sales, earning a revenue of $12.9 billion as the company sold almost 13 billion cans of the energy drink worldwide. A collective wealth of Thailand's 50 richest families have soared by more than 11% to a combined $170.5 billion, propelled by the gains of the top three entrants of the list which includes Yoovidhya family, Forbes reported. The wealth of the Yoovidhya family experienced a $8.5 billion increase from the previous year, solidifying their dominant position in Thailand's wealth rankings for the second year running. This 24% increase in wealth was directly fueled by Red Bull's performance in the global market. Last year alone, Red bull generated $12.9 billion in revenue, driven by the sales of nearly 13 billion cans of Red Bull worldwide. Red Bull's legacy can be traced back to Thailand, where Chaleo Yoovidhya, a chemist by profession developed an energy-boosting drink called Krating Daeng in the 1970s. The beverage quickly became popular among laborers and truck drivers in Thailand due to its ability to provide instant energy. However, the marketing of the drink to the global market is said to be done by Dietrich Mateschitz, an Austrian businessman who, while traveling in Thailand, discovered the drink and found that it helped him overcome jet lag. The Yoovidhya family holds a majority stake of 51% in Red Bull, whereas a small portion is personally owned by Chalerm Yoovidhya, the eldest son of late co-founder Chaleo Yoovidhya who is currently leading the brand. Following the Yoovidhya family, the Chearavanont brothers saw their net worth increase by 23% to $35.7 billion, securing second position in the list. Among others in the list were the energy and telecoms tycoon Sarath Ratanavadi, who climbed to third place from fifth, with a net worth of $12 billion, a 30% increase from the year before.
Forbes
03-07-2025
- Business
- Forbes
Wealth Of Thailand's 50 Richest On Forbes List Rises Over 11% To $170.5 Billion
Red Bull's Chalerm Yoovidhya & family retain top spot SINGAPORE (July 3, 2025) – The combined wealth of tycoons on the 2025 Forbes list of Thailand's 50 Richest rose more than 11% to US$170.5 billion, despite slower-than-expected economic growth amid trade tensions and mounting political uncertainty. The complete list can be found here, as well as in the July issue of Forbes Asia and the August issue of Forbes Thailand. Overall, the net worths of nearly half the listees were up with the biggest dollar jump—$8.5 billion—recorded by the Red Bull family, led by Chalerm Yoovidhya. In the No. 1 position for the second year in a row, their wealth skyrocketed to a record $44.5 billion as annual revenue of the energy drinks giant rose to €11.2 billion ($12.9 billion) in 2024 on worldwide sales of nearly 13 billion cans. The Chearavanont brothers of the Charoen Pokphand group retained their position as the country's second-richest with their net worth up by 23% to $35.7 billion. The group is doubling down on digital infrastructure, investing $1 billion with BlackRock to build data centers. The group's fintech unit Ascend Money recently got approval to set up a virtual bank. Energy-and-telecoms tycoon Sarath Ratanavadi climbed two spots to No. 3 for the first time with $12 billion, up from $9.2 billion last year. Completing the merger between his Gulf Energy Development and Intouch Holdings and listing the combined entity in April as Gulf Development powered his ascent. Taking the No. 4 spot is beverage tycoon Charoen Sirivadhanabhakdi, whose net worth was relatively flat at $10.5 billion. In a key move, the patriarch transferred some holdings to his five children but being the group founder, the fortune continues to be listed under his name. Rounding out the top five on the list is the Central Group's Chirathivat family, who saw their wealth decline 13% to $8.6 billion, as weak consumer sentiment impacted the retail sector. A total of 19 listees faced a downdraft. Coffee magnate Prayudh Mahagitsiri's (No. 18, $1.4 billion) wealth took a hit as his PM Group's long-standing joint venture with Nestle ended. Two patriarchs passed away since the last ranking: Vanich Chaiyawan, chairman emeritus of Thai Life; and Pongsak Viddayakorn, cofounder of Bangkok Dusit Medical Services, who went on to build a separate healthcare business under Principal Capital. Their fortunes are now listed under the Chaiyawan family (No. 6, $4.2 billion) and the Viddayakorn family (No. 30, $1.1 billion). Four people fell from the ranks, including renewable energy magnate Somphote Ahunai, whose Energy Absolute faced financial stress. The minimum net worth to qualify for the list dropped to $420 million from last year's $550 million. The top 10 richest in Thailand are: 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. Unlike the Forbes World's Billionaires list rankings, this list encompasses family fortunes, including those shared among extended families of multiple generations. Public fortunes were calculated based on stock prices and exchange rates as on June 13. Private companies were valued based on comparisons with similar companies that are publicly traded. The list can also include foreign citizens with business, residential or other ties to the country, or citizens who don't reside in the country but have significant business or other ties to the country. For more information, visit About Forbes: Forbes is an iconic global media brand that has symbolized success for over a century. Fueled by journalism that informs and inspires, Forbes spotlights the doers and doings shaping industries, achieving success and making an impact on the world. Forbes connects and convenes the most influential communities ranging from billionaires, business leaders and rising entrepreneurs to creators and innovators. The Forbes brand reaches more than 140 million people monthly worldwide through its trusted journalism, signature ForbesLive events and 49 licensed local editions in 81 countries. For media queries, please contact: Catherine Ong Associates Pte Ltd Catherine Ong, cell: +65 9697 0007, Email: cath@ Chenxi Wang, cell: +65 8187 3215, Email: chenxi@
Forbes
02-07-2025
- Business
- Forbes
Thailand's 50 Richest 2025: Collective Wealth Led By The Red Bull Family Jumps 11% To Cross $170 Billion
No. 1 Charlerm Yoovidhya. clive rose/Getty images This story is part of Forbes' coverage of Thailand's Richest 2025. See the full list here . Thailand's economy is growing at a slower-than-expected pace amid trade tensions and mounting political uncertainty. While a stronger baht mostly offset the 14% decline of the stock market index from a year ago, a huge boost in the fortunes of the top three propelled a more than 11% rise in combined wealth to $170.5 billion. Overall, the net worths of nearly half the listees were up with the biggest dollar jump—$8.5 billion—recorded by the Red Bull family, led by Chalerm Yoovidhya. In the No. 1 position for the second year in a row, their wealth skyrocketed to a record $44.5 billion as annual revenue of the energy drinks giant rose to €11.2 billion ($12.9 billion) in 2024 on worldwide sales of nearly 13 billion cans. The Chearavanont brothers of the Charoen Pokphand group retained their position as the country's second-richest with their net worth up by 23% to $35.7 billion. The group is doubling down on digital infrastructure, investing $1 billion with BlackRock to build data centers. Its fintech unit Ascend Money recently got approval to set up a virtual bank. Energy-and-telecoms tycoon Sarath Ratanavadi climbed two spots to land at No. 3 for the first time with $12 billion. Completing the merger between his Gulf Energy Development and Intouch Holdings and listing the combined entity in April as Gulf Development powered his ascent. Beverage tycoon Charoen Sirivadhanabhakdi's net worth was relatively flat at $10.5 billion and he slipped to fourth place. In a key move, the patriarch transferred some holdings to his five children in May but being the group founder, the fortune continues to be listed under his name. Amid weak consumer sentiment in the retail sector, the Chirathivat family's wealth was down 13% to $8.6 billion. Last October, the group got a new partner: Saudi Arabia's Public Investment Fund acquired a 40% stake in British retailer Selfridges from Austria's Signa Holdings. (Central group retains 60%.) A total of 19 listees faced a downdraft. Coffee magnate Prayudh Mahagitsiri's wealth took a hit as his PM Group's long-standing joint venture with Nestle ended. Two patriarchs died since the last ranking: Vanich Chaiyawan, chairman emeritus of insurance giant Thai Life; and Pongsak Viddayakorn, cofounder of hospital chain Bangkok Dusit Medical Services, who went on to build a separate healthcare business under Principal Capital. Their fortunes are now listed under the Chaiyawan family and the Viddayakorn family. Though the minimum net worth to qualify for the list dropped to $420 million from last year's $550 million, four people fell from the ranks. A notable absentee is renewable energy magnate Somphote Ahunai, whose Energy Absolute faced financial stress. Full Coverage of Thailand's Richest 2025: Reporting by Gloria Haraito and Anuradha Raghunathan. Methodology: 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. Unlike our billionaire rankings, this list encompasses family fortunes, including those shared among extended families of multiple generations. Public fortunes were calculated based on stock prices and exchange rates as on June 13. Private companies were valued based on comparisons with similar companies that are publicly traded. The list can also include foreign citizens with business, residential or other ties to the country, or citizens who don't reside in the country but have significant business or other ties to the country. The editors reserve the right to amend any information or remove any listees in light of new information.
Bloomberg
04-06-2025
- Business
- Bloomberg
Red Bull Heir Moves $1.1 Billion Stake to Geneva Trust Firm
When an Austrian marketer and a Thai businessman decided to launch Red Bull to the world, they settled on a simple ownership structure: each would own 49% of the venture. Chalerm Yoovidhya, a son of the Thai businessman, got the remaining 2% and has kept it for around four decades as Red Bull became a roaring success and turned him, his father and at least nine other family members into billionaires.
Bloomberg
03-06-2025
- Business
- Bloomberg
Red Bull Heir Transfers $1.1 Billion Stake to Geneva Trust Firm
When an Austrian marketer and a Thai businessman decided to launch Red Bull to the world, they settled on a simple ownership structure: each would own 49% of the venture. Chalerm Yoovidhya, a son of the Thai businessman, got the remaining 2% and has kept it for around four decades as Red Bull became a roaring success and turned him, his father and at least nine other family members into billionaires.
