Ratanavadi is the major shareholder and chief executive officer of Gulf Energy Development, a Thai energy producer. The Bangkok-based business operates gas-fired and solar electricity generation projects across Thailand and has more than 11,900 megawatts of capacity. It became publicly traded in 2017.
Sarath Ratanavadi's net worth of $12.2B can buy ...
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Ratanavadi's wealth is derived from his majority stake in Gulf Energy Development, a publicly traded energy producer in Thailand. The Bangkok-based company has gross installed power capacity of more than 11,900 megawatts, according to its website.
The billionaire controls 73% of the company, according to its 2020 annual report. He holds the shares directly as well as through his spouse Nalinee Ratanavadi and holding companies, including Gulf Holding (Thailand) Company and Gulf Capital Holdings.
His cash and other investable assets are calculated based on an analysis of dividends, insider transactions, taxation and market performance.
A company spokesman declined to comment on his net worth.
Sarath Ratanavadi studied civil engineering at the Chulalongkorn University in Bangkok before completing a masters degree at the University of Southern California.
His involvement in the coal industry led to a proposal to build coal power plants in southern Thailand. Protests followed and the government put the deal on hold. Sarath responded by switching his fuel source. Instead of building coal stations near white sandy coasts that were the original summer palace of the Thai royal family, Sarath turned to light natural gas.
It was that move in 2002 that paved the way for his company's transformation into a light natural gas enterprise. His holding company Gulf Energy Development PCL went public in November 2017 as an economic boom that had spread throughout southeast Asia in the 2010s finally made its way to Thailand.
Sarath earned a master’s in engineering from University of Southern California after studying at Bangkok’s Chulalongkorn University.
He's also been a board member at the Amata Spring Country Club near Bangkok, which holds one of Asia’s high-profile golf championships, and has chaired the NIST International School.