Charoen Sirivadhanabhakdi facts for kids

Charoen Sirivadhanabhakdi is a very successful Thai businessman and investor. He is known for starting Thai Beverage, a big company that makes drinks. He also leads two large groups of companies, TCC Group and Fraser and Neave, Ltd (F&N).

His family, the Sirivadhanabhakdi family, owns the most land and buildings in Thailand. They also have many commercial and retail properties in Singapore. Charoen owns 50 hotels in different countries like Asia, the US, UK, and Australia. Some famous hotels he owns include Plaza Athénée in New York City and The Okura Prestige Bangkok. In 2020, Forbes magazine estimated his wealth to be about US$10.5 billion.

In 1988, the King of Thailand, King Bhumibol, gave his family the special Thai last name "Sirivadhanabhakdi."

Early Life and Family

Charoen was born in 1944 into a Thai Chinese family. He was the sixth of eleven children. His father was a poor street vendor who moved to Bangkok from Shantou, China. Charoen's Chinese name is Su Xuming.

Like many other Chinese immigrants, his family later took a Thai last name, Srisomburananont. Charoen left school when he was only nine years old to start working. He speaks Teochew, which is his family's Chinese language, and also Thai.

Business Journey

Charoen began his career by supplying materials to companies that made Thai whiskey. At that time, the government controlled all whiskey production. Through the people he met, he was able to get a special permit to make his own alcoholic drinks.

In 1985, the government allowed other companies to bid for the remaining permits. Charoen borrowed US$200 million, using his large supply of alcohol as a guarantee. Soon after, he won all the permits. This meant his beverage companies had full control of the market. In 1987, his companies paid US$550 million in taxes to the Thai government. This was a big amount, about five percent of the country's budget at the time.

Making Beer

In 1991, Charoen worked with Carlsberg, a Danish beer company. They wanted to enter Thailand's growing beer market. At that time, the market was mostly controlled by Boon Rawd Brewery, which made Singha beer.

Three years later, Charoen used what he learned from Carlsberg to start making his own beer. He called it "Chang," which means 'elephant' in Thai. Within five years, Chang beer became very popular and held 60 percent of the local market. Carlsberg left the partnership in 2003. Charoen then sued Carlsberg and won US$120 million in 2005.

In 2005, Charoen tried to list ThaiBev on the Thai stock market. However, Buddhist groups in Thailand protested. They were worried that selling more alcohol would cause problems. Because of these protests, ThaiBev was not listed on the Thai stock exchange.

Property Development

Since the early 2000s, Charoen has also become very successful in property development. He created a company called TCC Land Co. Ltd. This company is now one of the biggest property developers in Thailand. They build homes, hotels, and shopping areas. They also manage properties, logistics, and farming businesses.

The Sirivadhanabhakdi family is now the largest landowner in Thailand. As of June 2014, they controlled 630,000 rai of land. This is more than three times the amount owned by Thailand's second-largest landowner. TCC Land also owns properties in other countries like the US, UK, Australia, Japan, China, and several Southeast Asian nations.

In early 2013, Charoen won a competition to buy Fraser and Neave, Ltd. in Singapore. This company owns properties across Asia and also makes soft drinks. The deal was worth US$11.2 billion. Charoen received money from banks like United Overseas Bank and DBS Bank to help with this purchase. By February 2013, Charoen's companies owned about 83 percent of Fraser and Neave shares.

In April 2017, Charoen announced plans for a huge new project called One Bangkok. This project is located in Bangkok and covers 104 rai of land. It is the largest private property development in Thailand so far, costing US$3.5 billion. One Bangkok will include offices, shops, homes, hotels, and public spaces for art. It is being developed by TCC Assets and Frasers Property and is expected to be finished in 2025.

Sports and Retail

In late 2015, there were rumors that Charoen was planning to take over Everton, an English Premier League football club. His company, Chang Beer, had sponsored the club since 2004.

On February 7, 2016, TCC Group announced that it would buy a large part of Big C Supercenter. Big C is a big supermarket chain in Thailand. This purchase, worth €3.1 billion, helped Charoen expand his retail business in Thailand. He also owns Berli Jucker PCL, another retail company.

Personal Life

Charoen's wife is Khunying Wanna. They have five children. His son, Thapana Sirivadhanabhakdi, is now the chief executive officer of ThaiBev. His daughter, Wallapa Traisorat, is the chief executive officer and President of Asset World Corporation. His youngest son, Panote Sirivadhanabhakdi, is on the board of F&N. His youngest daughter, Thapanee Techajareonvikul, is an executive director, and her husband, Aswin Techajareonvikul, is the Chief Executive Officer and President of Berli Jucker Company. Charoen is a follower of Buddhism.

Awards and Recognition

Charoen Sirivadhanabhakdi has received many important honors and awards.

Thai Royal Decorations

• The Knight Grand Cordon (Special Class) of the Most Exalted Order of the White Elephant
• The Knight Grand Cordon (First Class) of the Most Noble Order of the Crown of Thailand
• The Knight Commander (Second Class Lower Grade) of the Most Illustrious Order of Chula Chom Klao
• The Knight Grand Cross (First Class) of the Most Admirable Order of the Direkgunabhorn

Honorary Doctorates

He has also received honorary doctorates from several universities, including:

• Maejo University
• Huachiew Chalermprakiet University
• Eastern Asia University
• Mae Fah Luang University
• Chandrakasem Rajabhat University

Foreign Honors

• Honorary Commander of the Order of Loyalty to the Crown of Malaysia (P.S.M.) (2017). People who receive this award are given the title Tan Sri, and their wives are called Puan Sri.