Thailand's richest billionaire divides nearly $11 billion in assets among 5 children

(Dan Tri) - Mr. Charoen has divided his ownership shares in the parent company holding about 66% of Thai Beverage to his 5 children but still retains the right to manage business operations and assets.

The Straits Times has just reported that Thailand's richest billionaire Charoen Sirivadhanabhakdi has completed the division of shares in the parent company holding about 66% of Thai Beverage among his five children. However, Mr. Charoen Sirivadhanabhakdi still retains control of this giant beverage company.

According to a filing with the Singapore Stock Exchange on June 23, the 80-year-old billionaire's children have signed a shareholder agreement that will give him "the right to manage and make all decisions in relation to the business and assets" of the company.

The move means the crucial question of who will take over Charoen’s vast business empire remains unanswered. The succession is still up in the air. The share transfer is part of a long-term restructuring of the ThaiBev empire.

Mr Charoen's eldest son, Mr Thapana Sirivadhanabhakdi, is currently the CEO of ThaiBev. Under the restructuring, Mr Thapana will share controlling ownership of ThaiBev with his younger brother Panote Sirivadhanabhakdi and three sisters.

Thailand's richest billionaire Charoen Sirivadhanabhakdi (Photo: Reuters).

Mr. Parote is the CEO of Frasers Property Ltd, a listed real estate company in Singapore. His three sisters are Atinant Bijananda, Wallapa Traisorat and Thapanee Techajareonvikul.

Ms. Thapanee is CEO of Berli Jucker, a conglomerate that owns grocery retailer Big C. Ms. Wallapa runs Asset World Corp., a resort real estate group focused on the Thai market.

According to Bloomberg, billionaire Charoen Sirivadhanabhakdi has an estimated net worth of $10.9 billion. Charoen's business empire includes Thai Beverage - Thailand's largest beer and wine producer; Fraser and Neave - a Singapore-based food and beverage producer; and real estate company Frasers Property.

In Vietnam, ThaiBev caused a stir when it spent $4.8 billion to acquire Sabeco in 2017. This was the largest deal ever in the Asian beer industry.

Source: https://dantri.com.vn/kinh-doanh/ty-phu-giau-nhat-thai-lan-chia-gan-11-ty-usd-tai-san-cho-5-nguoi-con-20250624145602143.htm