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# 393 Jaran Chiaravanont $5.08B

Random fact: First chairman of Charoen Pokphand Group.

Overview

Chiaravanont is one of four brothers who control Charoen Pokphand Group, Thailand's largest closely held company. The Bangkok-based conglomerate's business includes poultry farms, convenience stores, property and animal feed. He also owns a stake in Ping An Insurance, the world's second-largest insurer.

As of :
Last change -$136M ( -2.6%)
YTD change +$1.13B ( +28.6%)
Industry Diversified
Biggest asset 2318 HK Equity
Citizenship Thailand
Age 89
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Jaran Chiaravanont's net worth of $5.08B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

0%
of the GDP of the United States
0%
of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
0%
of the top 200 U.S. executives’ total awarded compensation
0%
of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Chiaravanont's fortune is controlled through Charoen Pokphand Group (CP Group), Thailand's largest closely held company, according to its website. He and his billionaire brothers control more than 51 percent of the group, which has interests in agriculture, food, retail, property development and telecommunications. Each brother owns about 13 percent of CP Group, Viranon Futrakul, a spokesman for Charoen Pokphand, said in September 2016. 

CP Group's assets include Ping An Insurance Group, China's largest insurer by market value according to a February 2019 Bloomberg News report. He's attributed 3 percent of the company, based on information disclosed in a June 2019 filing to the Hong Kong Stock Exchange. Shares of Ping An that have been pledged have been excluded from his net worth calculation.

He's attributed 4.6 percent of CP All, which operates more than 10,000 branches of 7-Eleven franchise in Thailand, and 7 percent of Charoen Pokphand Foods, a Bangkok-based meat and feed producer. Other publicly traded assets include 6.5 percent of True Corp., Thailand's third-biggest mobile-phone operator, and about 7.1 percent of Charoen Pokphand Indonesia, which produces poultry and animal feed.

CP Land, a closely held property arm of CP Group, doesn't disclose its ownership details and can't be valued.

The value of his cash investments is based on an analysis of dividends, insider transactions, market performance and taxes. Liabilities of about $1.9 billion are included to account for the financing of his stakes in Ping An and Citic, China's biggest conglomerate.

Viranon Futrakul, a spokesman for Charoen Pokphand, declined to comment on the billionaire's net worth.

Biography

Birthdate: 1/1/1930
Family: Unmarried, No children

Jaran Chiaravanont was born in 1930, the eldest of four sons born into a Chinese-Thai family. His father and uncle left the Chinese province of Guangdong to establish a seed shop in Bangkok's Chinatown in 1921. That sprouted operations in animal feed and fertilizer.

He set up a feed mill for chickens in 1953 and registered the growing businesses under the name of Charoen Pokphand. Dhanin Chearavanont, the youngest of the four brothers, took control of the family business in 1964 and moved the company into poultry farming. The siblings built the family business into Thailand’s largest agricultural group, CP Group, before diversifying into retailing, telecommunications and real estate, and spreading to Indonesia, Singapore and Japan. When Chinese political leader Deng Xiaoping opened and reformed the country's economy in 1979, the group was its first foreign investor, registering the first business there as No. 001.

Chearavanont had planned to retire by age 58, according to a Harvard case study. He changed his mind when the family’s wealth crashed after Thailand devalued its currency in July 1997, triggering the Asian financial crisis. When the empire began to falter under $1 billion in foreign loans, they froze debt payments, halted dozens of ventures and sold assets to save the group. The brothers focused on modernizing farming in Thailand and China after the crisis ended.

CP Group is the world's largest animal feedmaker, the top shrimp farmer, the biggest exporter of packaged rice in Thailand and one of the globe's largest poultry producers. The group struck a deal to buy HSBC's 15.6 percent stake in Ping An Insurance, China's second-biggest life insurer, for $9.4 billion in 2012.

Milestones
  • 1921 Father and uncle leave China to set up seed shop in Bangkok.
  • 1930 Chiaravanont is born, the eldest of four brothers.
  • 1953 Seed shop renamed Charoen Pokphand as business expands.
  • 1964 Youngest brother Dhanin Chearavanont takes control of CP Group.
  • 1979 Becomes first investor in China after Deng Xiaoping opens the economy.
  • 1997 Dhanin Chearavanont retires at age 58 and leave business to brothers.
  • 1997 Thailand devalues currency and family fortune collapses.
  • 1998 Dhanin reverses decision to leave, takes control, sells assets to pay debt.
  • 2012 Agrees to buy 15.6 percent stake in Ping An Insurance.