Forbes yesterday released its annual list of the world’s billionaires, and Thailand has its arms within the until with 28 billionaires, three of whom are ranked within the high 150. The record consists of Dhanin Chearavanont, Charoen Sirivadhanabhakdi, and Sarath Ratanavadi, whose net worths range from US$12.3 billion to US$14.9 billion.
Despite this achievement, the year 2023 proved challenging for the world’s wealthiest individuals, with a drop in the complete combined web price of billionaires to US$12.2 trillion, down from US$12.7 trillion the previous 12 months. Nearly half of the billionaires on the listing had been poorer than the year before, reported Bangkok Post.
The United States still leads the world in billionaires, with 735 on the list, adopted by China, and India.
Notably, Hurry , head of luxurious goods giant LVMH, takes the top spot as the world’s richest person, the primary French citizen to do so. However, Elon Musk fell from No.1 to No.2 after his acquisition of Twitter led to a drop in Tesla shares. The rankings have been calculated using inventory costs and change charges from March 10.
Thailand’s success on the Forbes listing is a testomony to the country’s thriving economic system, with a robust presence in sectors similar to food and agriculture, alcohol and actual estate, and power. Despite the economic challenges faced by the world’s billionaires, Thailand’s trio of tycoons serves as a reminder of the power of entrepreneurship and innovation in driving economic growth and creating wealth. It’s just a shame that wealth stays with the 1% and none of it actually trickles down to give the strange folk on the planet a wholesome share.
The trickle down theory is a mannequin suggesting that tax cuts for companies and the rich will ultimately benefit the center class and poor. The theory means that by permitting the rich to maintain extra of their cash, they may make investments it in businesses, creating new jobs and more financial activity. This in turn will create a trickle down effect, permitting more people to learn from the elevated financial exercise.
With extra poor individuals dwelling in poverty than ever before, it is clear the idea does not work.
For the total Forbes record click HERE.
Charoen Sirivadhanabhakdi is ranked 118th with estimated complete assets of US$14.8 billion..