$44.5 Billion! Founding family of this energy drink empire now rules Thailand’s rich list | Company Business News

Red Bull co-owner Chalerm Yoovidhya has emerged as the richest individual of Thailand this year with a net worth of $44.5 billion.

This staggering growth is fueled by a surge in Red Bull’s global sales, earning a revenue of $12.9 billion as the company sold almost 13 billion cans of the energy drink worldwide.

A collective wealth of Thailand’s 50 richest families have soared by more than 11% to a combined $170.5 billion, propelled by the gains of the top three entrants of the list which includes Yoovidhya family, Forbes reported.

Red Bull fuels Yoovidhya family’s growth

The wealth of the Yoovidhya family experienced a $8.5 billion increase from the previous year, solidifying their dominant position in Thailand’s wealth rankings for the second year running.

This 24% increase in wealth was directly fueled by Red Bull’s performance in the global market.

Last year alone, Red bull generated $12.9 billion in revenue, driven by the sales of nearly 13 billion cans of Red Bull worldwide.

The masterminds behind the energy drink

Red Bull’s legacy can be traced back to Thailand, where Chaleo Yoovidhya, a chemist by profession developed an energy-boosting drink called Krating Daeng in the 1970s.

The beverage quickly became popular among laborers and truck drivers in Thailand due to its ability to provide instant energy.

However, the marketing of the drink to the global market is said to be done by Dietrich Mateschitz, an Austrian businessman who, while traveling in Thailand, discovered the drink and found that it helped him overcome jet lag.

The Yoovidhya family holds a majority stake of 51% in Red Bull, whereas a small portion is personally owned by Chalerm Yoovidhya, the eldest son of late co-founder Chaleo Yoovidhya who is currently leading the brand.
 

Other tycoons in the Thailand’s rich list

Following the Yoovidhya family, the Chearavanont brothers saw their net worth increase by 23% to $35.7 billion, securing second position in the list. 

Among others in the list were the energy and telecoms tycoon Sarath Ratanavadi, who climbed to third place from fifth, with a net worth of $12 billion, a 30% increase from the year before.