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#60 Charoen Sirivadhanabhakdi $17.0B

Random fact: Wanted a stake in Liverpool FC soccer team in 2004.

Overview

Thailand's richest man owns 68 percent of Thai Beverage, a maker of beer and spirits and the largest beverage company in Southeast Asia. He also owns stakes in food and beverage company Fraser & Neave; property companies Frasers Centrepoint and TCC Land; and conglomerate and consumer goods maker Berli Jucker.

As of Oct. 17, 2017:
Last change +$243M (+1.5%)
YTD change +$5.31B (+45.6%)
Industry Food & Beverage
Biggest asset THBEV SP Equity
Citizenship Thailand
Age 73
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Charoen Sirivadhanabhakdi's net worth of $17.0B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

0%
of the GDP of the United States
0%
of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
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of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Charoen's wealth comes from his 68 percent stake in Thai Beverage, the largest beverage company in Southeast Asia, which he controls through two Bangkok-based holding companies. He also owns more than 59 percent of Fraser & Neave, a Singapore-based property and beverage business, through Thai holding company TCC Assets.

The billionaire controls almost 60 percent of Frasers Centrepoint, the property business that Fraser & Neave spun off and sold in a public offering in Singapore in 2014. Through an investment company, he also owns about 39 percent of publicly traded Frasers Hospitality Trust and 74 percent of consumer goods distributor Berli Jucker.

The valuation of TCC Land, Charoen's closely held real estate development company, is based on the average price-to-earnings and price-to-book value multiples of four publicly traded peer companies: City Developments, Land & Houses, UOL Group and Quality Houses.

The value of his cash holdings is based on an analysis of dividends, insider transactions, taxes and market performance. Charoen is also debited with a liability for the financing of his stake in F&N.

Ariya Silakorn, a spokeswoman for Thai Beverage in Bangkok, declined to comment on the calculation of Charoen's net worth.

Biography

Birthdate: 5/2/1944
Family: Married, 5 children
Education:

Charoen was born and raised in Bangkok’s Chinatown district after his parents moved from Shantau in China. He bid for the rights to operate distilleries during the liberalization of the nation’s liquor industry, and entered the Thai beer market in 1995 by setting up a joint venture with Carlsberg to produce Chang. He later formed Beer Thai to manage marketing and distribution.

He later expanded into real estate and other businesses. His closely held property company, TCC Land, owns shopping malls and hotels, including the Hotel Plaza Athenee in New York and InterContinental Hotels & Resorts in Singapore. The Asian financial crisis of 1997 and 1998 led to the closure of financial institutions owned by his family.

Charoen has battled adversaries at home and overseas. Thai Beverage had to sell shares in Singapore in 2006, after anti-alcohol protesters blocked an offering in its home market. Buddhist monks and other protesters argued that a share sale by the maker of Chang beer and Mekhong whiskey would encourage alcoholism. In 2005, Charoen forced Carlsberg to pay $120 million to settle a legal dispute with a brewer he controlled. His family’s purchase of a stake in Asia Pacific Breweries pushed Heineken to make a bid -- and ultimately buy -- the maker of Tiger beer.

Charoen invested in Fraser & Neave, a Singapore-based property and beverage company, in July 2012, setting off a fight for its assets that led to the biggest acquisition of a Singapore-based company. He won control of F&N in January 2013, after beating a proposal from Overseas Union Enterprise, linked to the billionaire Riady family of Indonesia. The deal gave Charoen control over a company that has assets such as soft drinks and services apartments across Southeast Asia.

Milestones
  • 1995 Officially markets Chang beer for the first time.
  • 2005 Anti-alcohol protesters block Thai Beverage's IPO in Thailand.
  • 2005 Forces Carlsberg to pay $120 million to settle legal dispute.
  • 2006 Singapore IPO for Thai Beverage raises $865 million.
  • 2011 Thai Beverage buys almost 65 percent of Pepsi bottler Serm Suk.
  • 2012 Agrees to buy 22 percent of F&N, sparking fight for its assets.
  • 2013 Wins control of F&N after shareholders accept $11.2 billion offer.
  • 2014 Begins talks to buy OCBC's stake in Singapore-listed United Engineers.