Bangkok – The wealth of a billionaire from Thailand has increased rapidly because of the company he founded.
Thanks to his rapidly increasing wealth, Sarath Ratanavadi (54) has become the number two richest person in Thailand.
According to Bloomberg, Sarath’s wealth shot up because the value of his energy company rose 28 percent. He is the CEO of Gulf Energy Development which is number three energy producer in Thailand.
His wealth also increased to USD 1.7 billion or Rp 23.9 trillion (USD 1 = Rp. 14,092). Now, his wealth is USD 6.3 billion (Rp. 88.7 trillion).
Previously, the list of Forbes richest people in 2019 recorded Sarath as number seven richest person in Thailand. His wealth at that time was USD 4.4 billion (Rp 62 trillion).
Bloomberg said that Gulf Energy Development Pcl has superior performance among electricity providers in the world. The billionaire energy sector in Asia that is richer than Sarath is just Mukesh Ambani and Gautam Adani.
The Gulf official website says the company has 33 energy plants in three countries: Thailand, Vietnam, and is building in Oman.
In Thailand, Sarath’s wealth is right behind Charoen Sirivadhanabhakdi who is active in the food and property sector. Charoen’s wealth reaches USD 16.5 billion (Rp 232.5 trillion.