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#434 Vichai Srivaddhanaprabha $4.42B

Random fact: Attends every home game of Leicester City.


Srivaddhanaprabha is the founder and chairman of King Power Group, Thailand's largest duty-free shop operator. The closely-held business operates retail outlets and offers other travel-related services, and had revenue of 75 billion baht ($2.2 billion) in 2016. He also owns the English Premier League club Leicester City.

As of Sept. 22, 2017:
Last change +$20.5M (+0.5%)
YTD change +$1.10B (+32.9%)
Industry Consumer
Biggest asset King Power Duty Free
Citizenship Thailand
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Vichai Srivaddhanaprabha's net worth of $4.42B can buy ...

troy ounces of gold
barrels of crude oil

... and is equivalent to ...

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

Latest News

Net Worth Summary

Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Srivaddhanaprabha's fortune is derived from his control of closely held King Power Group, the largest duty-free retailer in Thailand, according to a March 31, 2017 interview with the Bangkok Post. The billionaire owns 100 percent of the business directly, through his wife and four children, as well as through a Thailand-based holding company V&A Holdings, according to a filing retrieved in June 2016 from Orbis, a database of company information published by Bureau van Dijk. 

The shares held by his wife and four children are included as part of his net worth to reflect his status as the founder and chairman of the business.

King Power Group reported revenue of 75 billion baht ($2.2 billion) in 2016, according to the Bangkok Post interview. The company is valued using the average price-to-earnings multiples of four publicly traded peers: Bahrain Duty Free Complex, Lagardere, MISR Duty Free Shops and Duty Free International.

Srivaddhanaprabha also owns English football club Leicester City via V&A Holdings. The club is valued using the enterprise value-to-sales multiples of three publicly traded peer soccer clubs: Manchester United, Arsenal and Juventus.

The billionaire also has a 40 percent stake in Thai AirAsia, the Thai unit of Asia's biggest discount carrier, AirAsia, according a disclosure to the Stock Exchange of Thailand, checked in August 2017.

The company didn't reply to the email for comments on the billionaire's net worth.


Family: Married, 4 children

Vichai Srivaddhanaprabha, of Thai Chinese heritage, started King Power in January 1989, when it was awarded a licence to open a duty free shop in downtown Bangkok. The company began selling tax free souveniers and merchandise in Bangkok's Don Muang International Airport in 1993, according to the company's website.

King Power achieved a major breakthrough in 2002, when it was awarded exclusive rights to run duty free and tax free concessions at Thailand's international airports, totalling 6,600 sq m of retail space. The company then secured the sole concession to not just duty free and tax free operations, but also all other commercial space at Bangkok's new Suvarnabhumi Airport, which opened in 2006, according to the company's website.

The billionaire purchased English football club Leicester City in 2010 for 39 million pounds ($60.8 million). Under his ownership, Leicester City won promotion into the English premier league in 2014. The club was crowned champion of the premier league, their first top-level football championship, in a surprise underdog victory two years later.

In June 2016, Srivaddhanaprabha bought a 40 percent stake in Asian Aviation, which owns a majority stake in budget carrier Thai AirAsia.

  • 1989 Starts first King Power duty free shop in Bangkok.
  • 1991 King Power opens first overseas duty free shop in Cambodia.
  • 1995 King Power wins concession to run duty-free business at Hong Kong's airport.
  • 2006 Wins monopoly duty-free concession at Bangkok's Suvarnabhumi airport.
  • 2010 Purchases English football club Leicester City.
  • 2013 Granted new surname, Srivaddhanaprabha, by the king of Thailand.
  • 2016 Leicester City wins the English premier league for the first time.
  • 2016 Purchases 39 percent stake in budget carrier Asian Aviation.