Some Win, Some Lose Amid Political Strife - Thailand's 50 Richest 2014:

Agribusiness tycoon Dhanin Chearavanont was Thailand’s biggest dealmaker last year, spending a combined $16 billion to buy stakes in Chinese insurer Ping An Insurance and cash-and-carry wholesaler Siam Makro, both at a hefty premium. Today that debt-fuelled shopping binge, for which his Charoen Pokphand Group reportedly borrowed $11 billion overseas, looks mistimed.
Months of political turmoil leading to a military coup have caused Thailand’s economic engine to stall. Recession looms; after eking out 2.9% growth in 2013, the economy contracted 2.1% in the first quarter. The baht is down close to 5% since June 2013, when we last measured fortunes. Tourism, Thailand’s mainstay, which has already seen the number of visitors decline 5% between January and April, seems set for a further lashing.

So Dhanin was left with dollar debt, at least partially unhedged, while the retail proceeds with which to repay grew more slowly than hoped. As we do with all wealth valuations, we discounted the Ping An shares that he pledged against the loan. All in all, a $1.1 billion drop, to No. 2.
The new No. 1 is the Chirathivat family, owners of the Central Group, a retail and hotel conglomerate that saw group revenues rise 27% to a record $7 billion in 2013. But it now has to contend with a slowdown in consumer spending and empty hotel rooms.

The biggest gainer in dollar terms is insurance tycoon Vanich Chaiyawan, up $1.8 billion, as the value of his privately held Thai Life surged after he sold a stake to Japan’s Meiji Yasuda. While skittish foreign investors are likely to hold back from such megadeals for now, the stock market has remained steady. Hence, more than half the returnees to the list added to their wealth, and the billionaires club expanded to 26 from 20 last year.
Three of the nine newcomers debuted with billion-dollar fortunes, including Chatri Sophonpanich and Banthoon Lamsam, both hailing from storied banking clans. Parphan Siriviriyakul of sugar producer Kaset Thai Sugar and Tan Passakornnatee, the marketing-savvy founder of green tea maker Ichitan, were among four new entrants who jumped into the ranks after taking their companies public.

A third of returnees from last year were poorer, such as Phornthep Phornprapha of Siam Motors, who felt the pinch of an auto slowdown. Eight from last year saw their fortunes drop below the minimum $305 million net worth required to make the cut, including Watchai Vilailuck of telecom outfit Samart and tilemaker Roongroj Saengsastra.
the Chirathivat family, which moves up to become Thailand’s richest clan this year