Charoen Sirivadhanabhakdi, the 80-year-old founder and chairman of Thai Beverage, has officially handed over nearly USD 11 billion worth of assets to his five children, finalizing a decade-long succession plan that reshapes the ownership structure of his vast business empire while maintaining his strategic control.
The formal share transfer, announced through filings to the Singapore Exchange and the Stock Exchange of Thailand, includes his indirect holdings in three key companies—Berli Jucker (BJC), Asset World Corp (AWC), and Thai Group Holdings (TGH)—via the holding company Sattha Sub 9 Co., Ltd. Although ownership is now equally divided among his children, Charoen retains sole authority to oversee operations and assets under a shareholder agreement signed by all heirs.
His eldest son, Thapana Sirivadhanabhakdi, continues as CEO of ThaiBev, Thailand’s largest beer and spirits producer, generating revenues of over THB 340 billion (approx. USD 9.25 billion) and net profits of more than THB 35.2 billion (approx. USD 958 million) in 2024. The youngest son, Panote Sirivadhanabhakdi, manages real estate projects including the THB 120 billion (approx. USD 3.26 billion) "One Bangkok" urban development.
Among the daughters, Wallapa Traisorat leads AWC, focusing on hotels and retail real estate, while Thapanee Techajareonvikul heads BJC, which owns the Big C retail chain. Atinant Bijananda oversees financial services through TGH.
The combined assets of these five companies exceed THB 1.24 trillion (approx. USD 33.75 billion). Despite this generational shift, succession at the top remains unresolved, as Charoen continues to play an active role in the strategic direction of the TCC Group, the umbrella organization for his businesses across beverages, real estate, retail, finance, and agro-industry.
Known as a key player in Southeast Asia’s beverage market, Charoen made global headlines in 2017 when ThaiBev acquired Vietnamese brewer Sabeco for USD 4.8 billion, marking the largest beer industry deal in Asia at the time (inside.beer, 18.12.2017)
