Thailand’s Richest Family: Succession Plan Revealed
Charoen Sirivadhanabhakdi, Thailand’s second-richest man, just handed over control of key assets to his children, initiating a significant shift in the kingdom’s buisness landscape. This strategic move involves the transfer of shares in Sutthasup 9 Company, impacting Asset World Corp and Berli jucker, two pillars of his extensive empire. The succession plan, revealed on News Directory 3, suggests no immediate changes to the companies’ management or strategy. This transfer highlights a pivotal moment for the tycoon’s legacy and the future of his vast holdings, which include major players in food and beverage. Will the children maintain or reshape the direction of their father’s businesses? Discover what’s next for the Thai beverage and real estate moguls.
Thai Tycoon Charoen Sirivadhanabhakdi Transfers Ownership to Children
Updated May 27, 2025
Charoen Sirivadhanabhakdi, center, has transferred ownership of two major listed companies to his five children. (File photo: Pornprom Satrabhaya)
Charoen Sirivadhanabhakdi, the second-wealthiest person in Thailand, is stepping back from his vast business empire. He recently transferred ownership of two major listed companies to his five children. The move signals a shift in the day-to-day management of his conglomerate, which spans beer production to property development.
According to filings made public late Monday, Charoen sold all his shares in Sutthasup 9 Company to his offspring. Sutthasup 9 holds indirect control over Asset World Corp and Berli Jucker. The filings did not disclose the exact amount of Charoen’s holdings in these companies.
The company filings stated that this restructuring of major shareholders is not anticipated to disrupt the current management structures, business operations, or strategic direction of either company.
The Bloomberg Billionaires Index estimates Charoen’s net worth at $11.6 billion.His extensive business interests include Thai Beverage Plc, the largest whiskey and spirits producer in Thailand, Fraser and Neave Ltd., a Singapore-based food and beverage company, and Frasers Property Ltd.
Earlier this month, Frasers Property announced its intention to take a real estate investment trust (REIT) private, valuing it at S$1.37 billion (US$1.1 billion). This marks the company’s second attempt to acquire the unit.
What’s next
The next chapter for Charoen Sirivadhanabhakdi’s business empire will be defined by his children as they take the reins, navigating the complexities of the global market and continuing the legacy of one of Thailand’s most influential business figures. The Charoen empire’s future direction remains a key point of interest for investors and industry observers alike.