BANGKOK — In a decisive step for his business legacy, Thailand’s second-richest individual, Billionaire Charoen Sirivadhanabhakdi Begins Succession and has transferred significant ownership stakes in major companies to his five children. The move signals a carefully orchestrated succession plan for his expansive business empire. (VnExpress International)
According to filings and reports, Charoen moved the full stake in private holding company Sutthasup 9 Company — which indirectly controls listed firms like Asset World Corporation and Berli Jucker Public Company Limited — equally among his heirs. (VnExpress International)
Despite the ownership shift, both companies stated that their management, operations, and strategic direction remain unaffected. (VnExpress International)
At 81 years old, Charoen has been gradually stepping back from leadership roles. Earlier this year he stepped down as chairman at key firms such as Frasers Property Limited and Fraser and Neave Limited. The latest transfer underscores his intent to secure a stable transition for his business interests. (Asia First)
He founded the vast TCC Group, which spans beverages, real estate, retail and hospitality across Asia. With an estimated net worth of US $11.6 billion, Charoen’s influence on Thailand’s corporate landscape is profound. (VnExpress International)
For Thailand’s business community, this succession move signals two important implications:
- First, stability — the statement by his companies reassures investors that leadership and strategy will stay consistent.
- Second, opportunity — the next generation may bring fresh direction and possibly accelerate growth in new business segments.