Charoen Sirivadhanabhakdi facts for kids

Charoen Sirivadhanabhakdi (Thai: เจริญ สิริวัฒนภักดี; Chinese: 苏旭明; born 2 May 1944) is a very successful Thai businessman and investor.

He started the company Thai Beverage. He is also the chairman of big companies like TCC Group and Fraser and Neave, Ltd (F&N). His family, the Sirivadhanabhakdi family, now owns the most land in Thailand. They have about 630,000 rai (which is a lot of land!). They also own many commercial buildings and shops in Singapore. Charoen also owns 50 hotels around the world. These include famous places like the Plaza Athénée in New York City. In 2020, Forbes magazine said his wealth was 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 Beginnings

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. His Chinese name is Su Xuming. Like many Chinese immigrants, his family later took a Thai last name, Srisomburananont.

Charoen left school very early, when he was only nine years old, to start working. He speaks Teochew, which is his family's Chinese language. He also speaks Thai.

Building a Business Empire

Charoen began his business 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 license to make his own alcoholic drinks. He managed to get rights to 15 percent of the market.

In 1985, the government opened up the remaining 85 percent of licenses for others to bid on. Charoen took out a large loan of US$200 million. He used his big supply of alcohol as a guarantee for the loan. Soon after, he won all the remaining licenses. This meant he controlled 100 percent of the market. His beverage companies then paid US$550 million in taxes to Thailand in 1987. This was a big amount, about five percent of the country's budget back then.

Beer Business

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. He started making his own beer called "Chang" (which means 'elephant' in Thai). Within just five years, Chang beer became very popular. It took over 60 percent of the local market. Carlsberg then left their partnership in 2003. Charoen later sued Carlsberg and won US$120 million in 2005. In 2005, Charoen tried to list his company, ThaiBev, on the Thai stock market. However, the listing did not happen.

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 centers. They also manage properties, logistics, and farming businesses.

The Sirivadhanabhakdi family is now the largest landowner in Thailand. As of 2014, they controlled 630,000 rai of land. This is much more than any other landowner in the country. TCC Land also owns properties in other countries. These include places like the US, UK, Australia, and Japan.

In early 2013, Charoen won a big competition to buy Fraser and Neave, Ltd. (F&N) in Singapore. F&N owns properties across Asia and also makes soft drinks. This deal was worth US$11.2 billion. It was the biggest business deal in Asia in 2012. Charoen's companies now own about 83 percent of F&N.

In April 2017, Charoen announced plans for a huge new project. It is a US$3.5 billion development called One Bangkok. This project is the largest private property development ever in Thailand. It is located in Bangkok, across from Lumphini Park. One Bangkok will have offices, shops, homes, hotels, and public spaces. It is expected to be finished in 2025.

Sports and Retail

In late 2015, there were talks that Charoen might buy the English football club Everton. His Chang Beer brand has been a sponsor of the club since 2004.

On 7 February 2016, Charoen's TCC Group announced another big purchase. They bought a controlling share (58.6 percent) in Big C Supercenter. Big C is a large supermarket chain in Thailand. This purchase cost €3.1 billion. Buying Big C helped Charoen expand his retail business in Thailand even more. He also owns Berli Jucker PCL, which is another retail company.

Family 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. Her husband, Aswin Techajareonvikul, is the Chief Executive Officer and President of Berli Jucker Company. Charoen is a follower of Buddhism.

Awards and Recognitions

Charoen Sirivadhanabhakdi has received many important awards and honors.

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 University Degrees

He has also received special degrees from several universities:

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

International 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.