Thaksin Shinawatra, a prominent figure in Thai politics and wealth, ranks 11th on Forbes’ latest list of Thailand’s 50 Richest individuals, with a fortune estimated at US$2.1 billion. This marks a stability in his financial status compared to previous years, despite the ongoing political challenges faced by his family.
Having served as Prime Minister from 2001 to 2006, Thaksin built his wealth primarily through his telecommunications ventures, notably the mobile phone operator AIS and the Shin Corporation. After spending 15 years in exile, he made a return to Thailand in 2023, subsequently undergoing six months of hospital detention before receiving special parole linked to a conviction from a past military coup.
Thaksin’s influence appears to persist, as he has reportedly reestablished a powerbase that supports his daughter, Paetongtarn Shinawatra, who was elected Prime Minister as part of a coalition government formed after the 2023 elections. Paetongtarn is currently facing significant scrutiny; earlier this week, she was suspended by the Constitutional Court as investigations commence regarding a leaked phone call with the former Cambodian leader, in which she criticized the Thai army’s actions during a recent border conflict.
Additionally, Thaksin himself confronted legal challenges, appearing in a Bangkok court concerning accusations of breaching Thailand’s lese majeste laws during a 2015 interview. This legal issue adds to the mounting pressures facing the Shinawatra family amid the current political climate.
According to Forbes, despite these challenges, the overall wealth of Thailand’s richest has increased, with the top three individuals on the list experiencing a significant rise in fortunes, contributing to a total combined wealth of US$170.5 billion. The Red Bull family topped the list for the second consecutive year, showcasing the economic resilience in specific sectors of the Thai economy, even as the broader economy faces trade tensions and political uncertainty.
This situation illustrates the dynamic and intricate relationship between wealth and politics in Thailand, where financial clout can serve as both a shield and a weapon in navigating the turbulent political landscape.