Dhanin Chearavanont was born in 1938, in Bangkok, Thailand, the son of migrant parents from Shantou, China. Dhanin is known as a Thai businessman based in Bangkok, the owner of the Charoen Pokhphand Group (C.P. Group). Forbes magazine ranks Dhanin as the richest person in Thailand after King Bhumibol, and 81st richest in the world as of 2015.
So just how rich is Dhanin Chearavanont? Forbes estimates that Dhanin’s net worth is over $14.4 billion, accumulated largely from his interests in banking, insurance and telecommunications.
Dhanin Chearavanont Net Worth $14.4 Billion
Dhanin Chearavanont’s father, Chia Ek Chor, and uncle, Chia Seow Hui, migrated to Bangkok in the 1920s, and began selling seeds and agricultural chemicals. Their business diversified across Asia, and also vertically through technology ventures and contract farming initiatives. In the 1980s, as China opened up to foreign firms, the C.P. Group became the preferred partner for international brands such as Honda, Wal Mart, and Tesco, a far cry from the nationalisation of Ek Chor’s business in China when the communists took over in 1949.
However, after being schooled in Hong Kong, Dhanin began his working career by joining the government-controlled slaughterhouse on his family’s insistence, partly in order to cultivate connections in Thai government circles which would hopefully prove useful in the future. Dhanin joined the family business after five years.
Dhanin’s C.P. Group is now one of Asia’s largest conglomerates and operates in agriculture, telecommunications, marketing, distribution and logistics, international trading, petrochemicals, property and land development, crop integration, insurance, automotive, and pet foods. Dhanin’s Group now holds over $50 billion in assets, and is the largest shareholder in Ping An Insurance, a Chinese life insurance company with over $500 billion in assets. The C.P. Group is also the second largest shareholder in Itochu Corporation of Japan, with estimated revenues over $150 billion in FY2013-14. Of course, all deals have been beneficial to Dhanin Chearavanont’s net worth.
Recently, shares of Dhanin’s Chinese insurer Ping An lifted nearly 40% after quarterly revenues doubled on the performance by its banking arm. Shares of his telecom outfit True Corp, have risen 200% since China Mobile bought an 18% stake for $880 million in 2014. Dhanin has started 2015 by partnering Japanese trading firm Itochu for a 20% stake in China International Trust and Investment Corporation for $10.2 billion.
Dhanin’s net worth now includes shares he owns together with his three brothers, Jaran Chiaravanont, Montri Jiaravanont and Sumet Jiaravanont. Cousin Kiat Chiaravanont is also a billionaire. In addition to the holdings already mentioned, Dhanin’s interests include CP ALL, third largest Seven Eleven Chain in the world with over 6,000 stores; CPF Global, with operations in dozens of countries, and the world’s largest producer of shrimp, animal feed, and third largest chicken and pork producer; True Corporation (Largest Internet Service Provider, Cable Television Network, and third largest Wireless Carrier in Thailand); Dayang Motos -China’s third largest motorcycle manufacturer); and CP PC, with major plastic production manufacturing plants in Thailand, China, and Vietnam), among several other businesses. Worldwide, the Group now employs more than 280,000 people.
As can be seen, Dhanin’s variety of interests ensures his net worth continues to grow, even if one element of his businesses doesn’t perform as well as expected.
In his personal life, Dhanin Chearavanont is married, and with five children, he splits his time among three homes in Thailand, China and Houston, USA. He is also involved in a number of philanthropic activities, including the restoration of Buddhist temples in Thailand, and sponsorship of schools and orphanages.
