Gulf Energy CEO remains Thailand’s richest man for 5th consecutive year

File photo : Sarath Ratanavadi, CEO of Gulf Energy

Sarath Ratanavadi, CEO of Gulf Energy, Thailand’s third largest energy producer, is Thailand’s richest man for the fifth year in a row, with a net worth of 190.8 billion baht, mostly in shareholdings in the Stock Exchange of Thailand listed companies, according to the Money and Banking magazine’s December edition.

His net worth, by September 2023, had reduced by 12.86% percent since last year. He owns 35.676% of the shares of the Gulf Energy public company, worth about 190 billion baht, and a 0.67% shareholding in I-Tel Corporation (ITC), a subsidiary of Thai Union group of companies, worth 406 million baht.

Sarath was the richest man in term of shares in listed companies in 2000, worth of about 120.9 billion baht, and has since then held onto that position, with his net worth fluctuating each year.

The second richest man,…