Charoen Sirivadhanabhakdi Net Worth $17.9 billion
Charoen Sirivadhanabhakdi salary $800,000,000
Charoen Sirivadhanabhakdi Net Worth: How rich is Charoen Sirivadhanabhakdi? &How much money is Charoen Sirivadhanabhakdi worth? Time to find out!
Charoen Sirivadhanabhakdi is a Thai billionaire businessman and his current net worth is $17.9 billion.
Born in a Thai family of Chinese origin, as the sixth of 11 children, he left school early and went to work to help his family.
Today, he speaks Teochew, his native Chinese dialect, as well as Thai and is one of the few self-made billionaires.
How did Sirivadhanabhakdi start his career?
He started by supplying distilleries producing Thai whiskey, and thanks to the contacts he made he began to produce his own alcoholic beverages, under license.
Back then the state owned the majority of liquor production but thanks to his license he could get rights to 15% of the market.
When the remaining 85% of state licenses became available to bids, he took out a $200 million loan using his large stocks of alcohol. Soon after he won 100% of the concessions.
His beverage companies made five percent of the national budget at the time, and a partnership with the Danish brewer Carlsberg followed.
The collaboration allowed him to tap into Thailand’s growing beer market, starting to make his own beer just three years later.
How did Sirivadhanabhakdi get famous?
Within five years, he owned 60% of the local market, and successfully expanded into property development with the establishment of TCC Land Co Ltd.
The company became one of the largest property developers in Thailand. It has investments in developing residential, hospitality and retail sites, as well as engaged in property management, logistics, among others.
How does Sirivadhanabhakdi make money?
His family is now the largest landlord in Thailand and controls 630,000 rai of land. The amount is over three times more than the country’s second largest landowner.
TCC Land also has several overseas properties that are managed by TCC Land International Co, Ltd. To that, are several interests in many countries.
After winning a bidding war for Singapore’s Fraser and Neave, Ltd, he received financing to back the deal. It became the largest merger-and-acquisition deal in Asia in 2012.
The total number of F&N shares owned by Charoen’s group—TCC Assets and Thai Beverage estimated at $1.19 billion, representing an approximate 83 percent stake.
In the early 2016, the company also bought 58.6 percent stake in Big C, Thailand’s second-largest hypermarket operator. He paid approx. $4 billion. He owns Berli Jucker PCL, the listed retail arm of TCC.
As for his personal life, he is married to Khunying Wanna and has five children.