The coronavirus pandemic has affected all income sectors, including Thailand’s richest families, according to Forbes’ latest rich list.
With a weakening economy and a sinking market, Forbes’ said that Thailand’s 50 richest have already lost US$28 billion or 18 per cent of their combined wealth.
On the list, 38 entries saw a drop in their net worth. The six worst-hit individuals lost more than $1 billion.
For example, the IPO of Central Retail Corporation actually halved Chirathivat’s net worth to $9.5 billion.
CRC’s share price is now more than 25 per cent below its IPO pricing. The decline in Indorama Ventures’ share price of more than 55 per cent due to contracting exports and poor economic sentiment also hit Aloke Lohia’s net worth and halved it to $1.09 billion.
Top 5 Richest (in comparison to 2019)
- Chearavanont family – $27.3 billion (down by $2.2 billion)
- Chalerm Yoovidhya – $20.2 billion (up by $0.3 billion)
- Charoen Sirivadhanabhakdi – $10.5 billion (down by $5.7 billion)
- Chirathivat family – $9.5 billion (down by $11.5 billion)
- Sarath Ratanavadi – $6.8 billion (up by $1.6 billion)
