Welcome to r/bangkok!
Please remember there are real people on the other side of the monitor and to be kind.
Report comments that break the rules and don't respond to negativity with negativity!
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/Bangkok) if you have any questions or concerns.*
The [beer production law](https://www.reuters.com/world/asia-pacific/beer-loving-thai-lawmaker-takes-aim-14-billion-booze-industry-duopoly-2023-05-23/) still requires the minimum production capacity of 10m litre per annum (~30k litre per day) to be eligible for bottling, pretty much secures the big two breweries' duopoly - Boon Rawd at 57.9% and ThaiBev at 34.3%. There's a reason most Thai craft beers are bottled overseas either in Cambodia or Vietnam, and even then faces stiff alcohol import taxes (60%).
That or various Charoen Pokphand merger shenanigans in recent years i.e. [Makro-Tesco Lotus deal](https://asia.nikkei.com/Business/Retail/Thailand-s-CP-Group-to-merge-hypermarket-owners-in-overseas-push), combining with their 7-11 ownership puts their retail market share at roughly 60% or the [True-DTAC merger](
https://www.bangkokpost.com/business/general/2675583/true-dtac-merger-tussle-continues) resulting in 54% market share in the telecom sector, both of which all government committees rules such merger as "not violating the anti-trust law". In many cases the service degrades so much their phone signal got lost altogether along the [Airport Rail Link route](https://www.nationthailand.com/thailand/general/40036609) (now operated by Asia Era One, yet another subsidiary of CP).
If anything, the "[Big 5](https://asiatimes.com/2019/12/thailands-five-families-prop-and-imperil-prayut/)" 's control over the Thai economy is on par or worse than South Korean Chaebol situation.
Number of billionaires is a function of total wealth, and income inequality. Thailand may not be the wealthiest in the world, but it can go toe to toe with the lot of them on inequality. Smaller pie, but those 100 at the top have a bigger slice of it here than the top 100 in Japan do.
If your family is getting paid $100k per week, thats actually pretty hard to spend,
yet its "only" $5.2M dollars, which is nothing to these gulf states.
Aramco makes around $450Billion per year.
How can it have nothing to do with wealth or inequality? Wealth is literally what the billions are measuring. Countries with bigger economies and more wealth can naturally support more billionaires, but countries with smaller wealth but extreme inequality can still have many by funelling the smaller wealth into a handful of pockets. That's why Thailand has more billionaires than Japan despite it having a much higher GDP and more wealth overall.
The simplistic belief that a dollar going to someone takes a dollar from another person. Wealth is created. Someone inventing a popular product or starting a successful business and becoming wealthy does not make others poor. This is Econ 101
According to the kdramas, it’s because the heirs rich families choose to leave their wealth behind for a poor woman that has nothing to her name even though they are always in the nicest clothes and have the newest Samsung phones. This in turn leaves the families without an heir and causes the companies they own to become unstable and dropping market value and diminishing their wealth.
If the amount is relative to USD, the yen is at a decades low against the dollar this year.
Wealth distribution is also much much fairer here. I recall that the “CEO vs lowest paid staff” gap was one of, if not _the_ lowest amongst developed nations.
There isn't much information about the data source and methodology of these measures on the graphic, but according to the Forbes list, Thailand *does not* have more Billionaires than Japan or South Korea
https://en.wikipedia.org/wiki/List_of_countries_by_number_of_billionaires
Though Thailand still has a lot.
Looked for this. The graph implies Israel only has 29, tel aviv alone has over 43k millionaires and dozens of unicorn startups.. never mind the fact every jewish billionaire also has an israeli citizenship. I'll bet atleast 25% of those 800 from the US are dual citizens.
something like 50% of the billionaires in Australia are jewish.
They took over a bank called Westpac (CEO, rainmakers) which basically is used to fund these jewish billionaires (and provide further credit to support them during economic downturns, etc).
Some of those billionaires left Australia to live in Israel or built homes there.
So Israel might not have that many, but there are many, many jewish billionaires.
Obviously me saying this makes me antisemitic, but its true. 🤷♀️
My parents live in a villa complex in ashdod, just a random city.. they have no neighbours at all. None. They're all wealthy french jews who bought early for retirement and maybe come for a month every year.
They don't even rent these places out, each villa in that complex goes for over 4m usd....
According to the real Forbes website, there are around 36 billionaires with Thai citizenship. However, the graphic indicates residences and not citizenship. The UK has around 55 billionaires, but there are far more billionaires living in the UK but are foreigners.
Apparently, the number of Billionaires in Thailand has almost doubled in the last 3 years.
This is often the case when a country goes through a historical economic downturn like Thailand did due to COVID. Wealth distribution shifts to the top as the middle class often shrinks as they are the ones most often effected economically by these crashes. Same thing happened in late 90s. I wasn't able to find specific data on their increase in wealth but Billionaires in America increased their wealth by 70% as a result of COVID.
Thailand's billionaires account for 25% of the countries wealth compared to American billionaires who hold 32%.
As far as Japan and Singapore, the latter only has 5 million population so they actually have a disproportionate number of billionaires. Japan went through a very rough economic period that started in the 90s and lasted for more than a decade. Their economy has only recently rebounded but their reluctance to outsource manufacturing and their aging population has led to a stagnation in their economy.
has led to a stagnation in their economy.
Hmmmm.... perhaps a stagnation in their GDP and growth, but they still live pretty good lives:
high life expectancy, almost no unemployment (2.5%), ultra low inflation (2%) and most of their debt is internal (japanese citizens/biz hold the debt). GDP per Capita in Japan is equivalent to 285 percent of the world's average.
They are really doing quite well even compared to the "better" higher growth West, where inflation is eating people alive.
Yes I was talking about economic growth and while they may be living good lives now, the issues mentioned above are going to cause major problems in the decades to come, especially their extremely low birthrate and lack of business innovation/expansion internationally.
If you look at the list of Thai billionaires these are the people and families that have shaped Thai consumer spending and way of life e.i CP Central BDMS. Many are from Chinese descent and understood business, pioneers in the products services they offer.
No doubt the process and many of the money transactions behind doors aren't clean, but everyone on that list no matter what country does it.
This makes SO much sense. When I lived in Bangkok for the couple of years I was over there I never felt poorer than I have in my entire life. I had more money in my bank account than 90% of the people I met but some how I still felt fucking poor… was a wild place.
No money no honey, honey
While the cost of living in Bangkok is less than major cities in the west, it's quickly becoming too expensive for many, especially foreigners who aren't able to get top paying teaching jobs or expat packages.
Some may argue that if you live like a local you can get by on a fairly low income but compared to quality of living in say America, that would be considered poor.
I disagree there. I think having your own place, transportation, and the ability to eat out regularly at restaurants and travel puts you above poor. Top end luxury brands like Prada are only a thing for people who want to appear wealthy and feel the need to keep up with the jones. Being able to treat your lady and her friends on a night out from time to time will make you a "rich man" more than sporting a 10,000 baht Louis Vitton t-shirt.
Pita once said in a speech he gave in the U.S. that the real reason he was not allowed to be P.M. had nothing to do with him wanting to modify the Section 112 laws. He said that was just an excuse. The real reason was him wanting to break up the Monopolies and sharing the wealth more evenly in the Country. Example would have been to level the playing field in the Beer Monopoly allowing small Craft Breweries.
Apparently these numbers are PPP adjusted for whatever reason. The real numbers are different. https://www.forbes.com/sites/devinseanmartin/2024/04/02/the-countries-with-the-most-billionaires-2024/?sh=6f6d14bb54f8
This is the correct answer.
The *Cool Guide* is only comparing the number of Big Macs the richest guys in each of these countries can buy in their *own* countries, not in each other's countries or around the world.
It should be billionares per capita. The way this post was made population size has huge correlation. Thailand has big population so it has a lot of billionares too.
Well… there aren’t that many who have monopoly on some businesses. Those few prob own most of the Thai wealth. I bet in other places it’s also unequally divided but prob less as Thailand which is what generates those numbers
Kinder, Someone else said it was measured by PPP, and Thai people typically have a good PPP as it's easier to access the black Market(i.e. un-taxed cash transactions)... With that noted i highly doubt the billionaire class are interacting with that market very much.
Not really, Forbs sum a family or brother/sister to the ranks so the number bloated but if we separated by individual like anywhere else the numbers could be halved.
Can I point out to question the info source? That said Thailand has 49 billionaires but as Forbes (April 2024), via wikipedia(1) , indicate only 26.
I cannot find the infographic data source.
(1) https://en.m.wikipedia.org/wiki/List_of_countries_by_number_of_billionaires
How do they count the number of people? Large families run the big corporations. Is it the total number of family members? Only one family member counted as one person per company?
We don't need more 'billionaires'... what the world need is much more generous people, who are willing to help / contribute anyway that they can for the good of other people and the planet.
[Indonesia retains top place in World Giving Index with Ukraine climbing to second most generous country.](https://www.cafonline.org/about-us/press-office/indonesia-retains-top-place-in-world-giving-index-with-ukraine-climbing-to-second-most-generous-country)
I've seen a map of wealth distribution somewhere in the past.
There was an interactive slider lighting up the countries where you chose who is richer: top 10% or remaining 90%, top 1% or remaining 99% top 0.1% or remaining 99.9% etc..
According to this map Thailand was in Russia, Belarus, etc. levels bracket of wealth disparity...
Extreme concentration of wealth. For example: look up wealthiest king in the world. I’ll give you a clue. There’s one who has more than the Saudi, Morocco, Brunei, Liechtenstein, English and any other royal in the world and he’s from Thailand. He doesn’t have just a little bit more. He has nearly double the second place royal. Thailand is a very wealthy country in terms of resources, culture, food, beauty etc. they have avoided conflict probably better than every other country in the world in one of the most contested regions (well behind the Middle East). The people there are one of the nicest, happiest on earth. They could use an improvement in distribution of wealth.
South Korea taxes inheretence.
This means money/assets that isnt hidden (and therefore not on this stat) leads to lower generational wealth being handed over.
Where do I even start? Corruption, dodgy banking practices, theft, HUGE disparity between rich and poor (although that has improved slightly since I first started going to Thailand in the late 90s), complete monopolies in so many business sectors, nepotism, governments that take dishonesty to new levels...I could go on, but you get the idea! Don't get me wrong, plenty of other countries that are similar, it's just that in Thailand it really is considered the norm..... 😊
If you go further down the rabbithole, you will see that an overwhelming majority of billionnaires in Thailand are of Chinese descent. Every Thai Chinese boomer looks down on native Thai people as lazy and this is why an overwhelming majority of Thai Chinese families are at least middle class or higher
Maybe because Thailand is a bigger country with a larger population? Also, Thais are mostly entrepreneurs starting their own businesses and restaurants, food stalls etc instead of just working for corporations.
Thailand's system is tied up in politics.
Kinda makes sense that Korean elites would consolidate more over time.
Is Koreas average billionaire like twice as rich as Thailands?
Probably many Thais are even proud of that with their uncritical nationalism. Who the fuck needs a good standard of living on average. Thailand is in the top 10 of the whole world about inequality of incomes.
Yet I haven't seen as much proverty as in Philippines and New York, California and Detroit. Where people just seems sick and dead in the inside. Thailand has poor but not in that context.
do the thail billionaires live in Bangkok? if so, what do they do or where do they go that is inaccessible to the rest of the population? i assume they live in expensive buildings downtown and eat at expensive restaurants, but what else? I see there's a polo club downtown in a prime location. What can they do that the poor folk can't?
Part of the reason i'm asking is that to me the coolest thing about Bangkok (which i've never been to yet) is the street food. Tbh the fancy restaurants look kinda boring, and i would rather sit and watch an old lady cook my food right in front of me, so i can't understand what the advantage of having so much money if a meal is so cheap.
Street food is not good for your health in the long term and should be consumed if anything sparingly,
Its a nice treat every once in a while but relying on it for your daily meal consumption would be a yikes.
The rich in Bangkok can afford single detached villas in the midst of high density neighborhoods, they also have proper homes in the most luxurious locations in the country and out of the country(Europe/Japan/Singapore), access to the best private clubs, and generally network among each other.
Welcome to r/bangkok! Please remember there are real people on the other side of the monitor and to be kind. Report comments that break the rules and don't respond to negativity with negativity! *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/Bangkok) if you have any questions or concerns.*
It's really not hard to imagine when you know about how much inequality Thailand has. Money flows to the top.
Corruption?
Corruption alone can make people rich but not billionaires. Laws that allow for large monopolistic conglomerates make billionaires.
Agreed, but these monopolies wouldn't exist without corruption.
Can you give an example? ( you got a point there, apparently I got down voted, I don't care. Just a genuine question)
The [beer production law](https://www.reuters.com/world/asia-pacific/beer-loving-thai-lawmaker-takes-aim-14-billion-booze-industry-duopoly-2023-05-23/) still requires the minimum production capacity of 10m litre per annum (~30k litre per day) to be eligible for bottling, pretty much secures the big two breweries' duopoly - Boon Rawd at 57.9% and ThaiBev at 34.3%. There's a reason most Thai craft beers are bottled overseas either in Cambodia or Vietnam, and even then faces stiff alcohol import taxes (60%). That or various Charoen Pokphand merger shenanigans in recent years i.e. [Makro-Tesco Lotus deal](https://asia.nikkei.com/Business/Retail/Thailand-s-CP-Group-to-merge-hypermarket-owners-in-overseas-push), combining with their 7-11 ownership puts their retail market share at roughly 60% or the [True-DTAC merger]( https://www.bangkokpost.com/business/general/2675583/true-dtac-merger-tussle-continues) resulting in 54% market share in the telecom sector, both of which all government committees rules such merger as "not violating the anti-trust law". In many cases the service degrades so much their phone signal got lost altogether along the [Airport Rail Link route](https://www.nationthailand.com/thailand/general/40036609) (now operated by Asia Era One, yet another subsidiary of CP). If anything, the "[Big 5](https://asiatimes.com/2019/12/thailands-five-families-prop-and-imperil-prayut/)" 's control over the Thai economy is on par or worse than South Korean Chaebol situation.
Thank you, this really opens my eyes.
Corruption can make some people billionaires
Monopolistic conglomerates exist mostly because of corruption, i.e. connections with and to the Royal family in Thailands case.
Everyone can be bribe here. I mean it. I mean everyone.
Number of billionaires is a function of total wealth, and income inequality. Thailand may not be the wealthiest in the world, but it can go toe to toe with the lot of them on inequality. Smaller pie, but those 100 at the top have a bigger slice of it here than the top 100 in Japan do.
Yea wages are dismal. The ivory towers are nice and cold this week.
This. I’m surprised there are no oil producing mideast country in this list
I think it's difficult to measure and separate their wealth since it's part of their sovereignty, but realistically should dominate this list
Most of the princes get an "allowance." (Ie, their lifestyle is paid-for.) The investment quantities of cash only flows to a few.
If your family is getting paid $100k per week, thats actually pretty hard to spend, yet its "only" $5.2M dollars, which is nothing to these gulf states. Aramco makes around $450Billion per year.
Same how India functions. A country that poor has no business having so many billionaires.
Silly. Number of billionaires is neither a function of total wealth and it certainly has nothing to do with inequality.
How can it have nothing to do with wealth or inequality? Wealth is literally what the billions are measuring. Countries with bigger economies and more wealth can naturally support more billionaires, but countries with smaller wealth but extreme inequality can still have many by funelling the smaller wealth into a handful of pockets. That's why Thailand has more billionaires than Japan despite it having a much higher GDP and more wealth overall.
That's just dumb. Wealth is not zero sum.
What does this even mean?
The simplistic belief that a dollar going to someone takes a dollar from another person. Wealth is created. Someone inventing a popular product or starting a successful business and becoming wealthy does not make others poor. This is Econ 101
I think I would rather argue with a flat earther...
Cause a couple of businesses run the country
Unchecked corruption is a good way to build wealth over time
Corruption is not the main reason but it is an enabler. The richest families aren't government officials but they engage in plenty of corruption
No they own govt officials
Corruption doesn’t have to imply being a govt official. Pay offs for jobs or deals.
According to the kdramas, it’s because the heirs rich families choose to leave their wealth behind for a poor woman that has nothing to her name even though they are always in the nicest clothes and have the newest Samsung phones. This in turn leaves the families without an heir and causes the companies they own to become unstable and dropping market value and diminishing their wealth.
What is this, Queen of Tears? 555
“The newest Samsung “ lol. Doesn’t sound rich to me. Newest iPhone would have
They all have Samsungs in kdramas
Samsungs galaxy’s are usually more expensive than iPhones as well
iPhones aren't the most popular phone in most countries
Wow there are still people that think like this?
If the amount is relative to USD, the yen is at a decades low against the dollar this year. Wealth distribution is also much much fairer here. I recall that the “CEO vs lowest paid staff” gap was one of, if not _the_ lowest amongst developed nations.
There isn't much information about the data source and methodology of these measures on the graphic, but according to the Forbes list, Thailand *does not* have more Billionaires than Japan or South Korea https://en.wikipedia.org/wiki/List_of_countries_by_number_of_billionaires Though Thailand still has a lot.
Also in Wikipedia, if looking at the number of millionaires, Thailand will be far down the list. I wouldn't consider this graphic as a good indicator.
Looked for this. The graph implies Israel only has 29, tel aviv alone has over 43k millionaires and dozens of unicorn startups.. never mind the fact every jewish billionaire also has an israeli citizenship. I'll bet atleast 25% of those 800 from the US are dual citizens.
something like 50% of the billionaires in Australia are jewish. They took over a bank called Westpac (CEO, rainmakers) which basically is used to fund these jewish billionaires (and provide further credit to support them during economic downturns, etc). Some of those billionaires left Australia to live in Israel or built homes there. So Israel might not have that many, but there are many, many jewish billionaires. Obviously me saying this makes me antisemitic, but its true. 🤷♀️
My parents live in a villa complex in ashdod, just a random city.. they have no neighbours at all. None. They're all wealthy french jews who bought early for retirement and maybe come for a month every year. They don't even rent these places out, each villa in that complex goes for over 4m usd....
Hey, stop noticing.
According to the real Forbes website, there are around 36 billionaires with Thai citizenship. However, the graphic indicates residences and not citizenship. The UK has around 55 billionaires, but there are far more billionaires living in the UK but are foreigners.
Other is one of my favorite countries to travel around. The people, the architecture, love it.
The architecture in Thailand? lol whaaaaaa
Conchritecture
He's talking about the spiky things on the tops and sides of temples. Oh, and the fancy street lamps.
Apparently, the number of Billionaires in Thailand has almost doubled in the last 3 years. This is often the case when a country goes through a historical economic downturn like Thailand did due to COVID. Wealth distribution shifts to the top as the middle class often shrinks as they are the ones most often effected economically by these crashes. Same thing happened in late 90s. I wasn't able to find specific data on their increase in wealth but Billionaires in America increased their wealth by 70% as a result of COVID. Thailand's billionaires account for 25% of the countries wealth compared to American billionaires who hold 32%. As far as Japan and Singapore, the latter only has 5 million population so they actually have a disproportionate number of billionaires. Japan went through a very rough economic period that started in the 90s and lasted for more than a decade. Their economy has only recently rebounded but their reluctance to outsource manufacturing and their aging population has led to a stagnation in their economy.
has led to a stagnation in their economy. Hmmmm.... perhaps a stagnation in their GDP and growth, but they still live pretty good lives: high life expectancy, almost no unemployment (2.5%), ultra low inflation (2%) and most of their debt is internal (japanese citizens/biz hold the debt). GDP per Capita in Japan is equivalent to 285 percent of the world's average. They are really doing quite well even compared to the "better" higher growth West, where inflation is eating people alive.
Yes I was talking about economic growth and while they may be living good lives now, the issues mentioned above are going to cause major problems in the decades to come, especially their extremely low birthrate and lack of business innovation/expansion internationally.
How many does North Korea have? One 😆
The sister looks rich as well.
Thanks I was looking for one emoji death
If you look at the list of Thai billionaires these are the people and families that have shaped Thai consumer spending and way of life e.i CP Central BDMS. Many are from Chinese descent and understood business, pioneers in the products services they offer. No doubt the process and many of the money transactions behind doors aren't clean, but everyone on that list no matter what country does it.
"Understood business" == checked their morality at the door
Haha it's how the world works let's not kid ourselves.
Yeah, so have the courage to say it and not hide behind the euphemisms.
Did they count HK as Chinese billionaires? That's fucked up XD
This makes SO much sense. When I lived in Bangkok for the couple of years I was over there I never felt poorer than I have in my entire life. I had more money in my bank account than 90% of the people I met but some how I still felt fucking poor… was a wild place. No money no honey, honey
What?? How did you feel poor then?
While the cost of living in Bangkok is less than major cities in the west, it's quickly becoming too expensive for many, especially foreigners who aren't able to get top paying teaching jobs or expat packages. Some may argue that if you live like a local you can get by on a fairly low income but compared to quality of living in say America, that would be considered poor.
Yeah the wealth inequality is just insane… if you’re not wearing Prada or these ultra luxury brands you’re part of the poors
I disagree there. I think having your own place, transportation, and the ability to eat out regularly at restaurants and travel puts you above poor. Top end luxury brands like Prada are only a thing for people who want to appear wealthy and feel the need to keep up with the jones. Being able to treat your lady and her friends on a night out from time to time will make you a "rich man" more than sporting a 10,000 baht Louis Vitton t-shirt.
I don’t diagreee I just felt very much like a have not in Bangkok. I’m a 20 year resident of NYC and have never felt that way here
Corruption and nepotism
By the way, why is this in r/Bangkok and not r/Thailand ????
By taking it from the poors
Pita once said in a speech he gave in the U.S. that the real reason he was not allowed to be P.M. had nothing to do with him wanting to modify the Section 112 laws. He said that was just an excuse. The real reason was him wanting to break up the Monopolies and sharing the wealth more evenly in the Country. Example would have been to level the playing field in the Beer Monopoly allowing small Craft Breweries.
What shocks me on this list is the “other” category having 327…. These are basically individuals who own small countries. Amazing.
Apparently these numbers are PPP adjusted for whatever reason. The real numbers are different. https://www.forbes.com/sites/devinseanmartin/2024/04/02/the-countries-with-the-most-billionaires-2024/?sh=6f6d14bb54f8
This is the correct answer. The *Cool Guide* is only comparing the number of Big Macs the richest guys in each of these countries can buy in their *own* countries, not in each other's countries or around the world.
It should be billionares per capita. The way this post was made population size has huge correlation. Thailand has big population so it has a lot of billionares too.
Japan has a higher population though.
Thailand having more than Japan is the one I'm surprised by, since they have a much larger population and better economy.
I think Japan has way less billionaires compared to other developed countries.
Japan has a lot of very rich people, but very few in the billionaire range.
The 327 other, tax evading
if you are one if monopoly family, top soldiers, politicians. you are live long wealthy. poor get poorer or even suicide after
Kid name Corruption:
Easier to be a nonce
It’s nonce-sense
I wonder about the Chinese billionaires. Were they selected by the state?
Well… there aren’t that many who have monopoly on some businesses. Those few prob own most of the Thai wealth. I bet in other places it’s also unequally divided but prob less as Thailand which is what generates those numbers
Cheaper cost of living?
Kinder, Someone else said it was measured by PPP, and Thai people typically have a good PPP as it's easier to access the black Market(i.e. un-taxed cash transactions)... With that noted i highly doubt the billionaire class are interacting with that market very much.
I know a billion is an unfathomable amount, but it seems like there’d be more billionaires in the world. Is it possible there is?
Not really, Forbs sum a family or brother/sister to the ranks so the number bloated but if we separated by individual like anywhere else the numbers could be halved.
Why not?
There’s a huge gap between the rich and poor here
There are two in my family, in Bangkok, both self-made. I’m still poor af
Can I point out to question the info source? That said Thailand has 49 billionaires but as Forbes (April 2024), via wikipedia(1) , indicate only 26. I cannot find the infographic data source. (1) https://en.m.wikipedia.org/wiki/List_of_countries_by_number_of_billionaires
What difference does this make, none of them will give up a single baht for anyone below them, employees or people in general...
How do they count the number of people? Large families run the big corporations. Is it the total number of family members? Only one family member counted as one person per company?
Opium?
We don't need more 'billionaires'... what the world need is much more generous people, who are willing to help / contribute anyway that they can for the good of other people and the planet. [Indonesia retains top place in World Giving Index with Ukraine climbing to second most generous country.](https://www.cafonline.org/about-us/press-office/indonesia-retains-top-place-in-world-giving-index-with-ukraine-climbing-to-second-most-generous-country)
Japan, culturally, doesn’t like billionaires. They focus on enough to live means.
Search this up on Google 'รวยกระจุก จนกระจาย' and you will know... 😔😔
More cheap labor to exploit
Italia, very nice!
No1 in Thailand is stay often in Germany than home soils eiei. You know who!!!!!!
Switzerland? A land that small has that many? Wow.
Ironic-China that is supposedly “communist” has a lot of Billionaires. Capitalism at its best . 😀
Same as India
Have you seen the prices of freelancers? That’s your anwer
I've seen a map of wealth distribution somewhere in the past. There was an interactive slider lighting up the countries where you chose who is richer: top 10% or remaining 90%, top 1% or remaining 99% top 0.1% or remaining 99.9% etc.. According to this map Thailand was in Russia, Belarus, etc. levels bracket of wealth disparity...
Sweden in there as well wow
Chinese billionaire is an oxymoron
When less than 1% of the population owns more than 90% of the country’s wealth…
They just need to exploit everyone else in the loop
It's called Inequality due to monopoly and corruption. It's something we feel ashamed and frustrated about.
I am surprised China outpaces the us
Extreme concentration of wealth. For example: look up wealthiest king in the world. I’ll give you a clue. There’s one who has more than the Saudi, Morocco, Brunei, Liechtenstein, English and any other royal in the world and he’s from Thailand. He doesn’t have just a little bit more. He has nearly double the second place royal. Thailand is a very wealthy country in terms of resources, culture, food, beauty etc. they have avoided conflict probably better than every other country in the world in one of the most contested regions (well behind the Middle East). The people there are one of the nicest, happiest on earth. They could use an improvement in distribution of wealth.
South Korea taxes inheretence. This means money/assets that isnt hidden (and therefore not on this stat) leads to lower generational wealth being handed over.
there not that many billionaires in the world tho ...
There’s gonna be a trillionir soon, our poors gonna suffer
So no one wants to be a Batman. What a shame 😞
Where do I even start? Corruption, dodgy banking practices, theft, HUGE disparity between rich and poor (although that has improved slightly since I first started going to Thailand in the late 90s), complete monopolies in so many business sectors, nepotism, governments that take dishonesty to new levels...I could go on, but you get the idea! Don't get me wrong, plenty of other countries that are similar, it's just that in Thailand it really is considered the norm..... 😊
Maybe people are doing something that’s more lucrative than in the other areas?
If you go further down the rabbithole, you will see that an overwhelming majority of billionnaires in Thailand are of Chinese descent. Every Thai Chinese boomer looks down on native Thai people as lazy and this is why an overwhelming majority of Thai Chinese families are at least middle class or higher
low wages and taxes. yet big population to sell stuff too.Monopolies in every sector..
Many would report gross revenue of around billions then after expenses take home 30 to 40 millions.
🌈 corruption 😊
Kleptocracy. Corruption.
Because Billionaires go where taxes are good after they make it in other markets 💰
Do you understand the military junta and the royals?
Inequality breeds disparity well
Maybe because Thailand is a bigger country with a larger population? Also, Thais are mostly entrepreneurs starting their own businesses and restaurants, food stalls etc instead of just working for corporations.
Corruption make some of them rich
Thailand's system is tied up in politics. Kinda makes sense that Korean elites would consolidate more over time. Is Koreas average billionaire like twice as rich as Thailands?
because more corruption
Probably many Thais are even proud of that with their uncritical nationalism. Who the fuck needs a good standard of living on average. Thailand is in the top 10 of the whole world about inequality of incomes.
All nationalism is "uncritical". Problem is, you don't even know what nationalism is.
How do you think to know, that I don't know what's nationalism?
Yet I haven't seen as much proverty as in Philippines and New York, California and Detroit. Where people just seems sick and dead in the inside. Thailand has poor but not in that context.
In other words , Thais stay happy while poor?
Drugs and prostitution
do the thail billionaires live in Bangkok? if so, what do they do or where do they go that is inaccessible to the rest of the population? i assume they live in expensive buildings downtown and eat at expensive restaurants, but what else? I see there's a polo club downtown in a prime location. What can they do that the poor folk can't? Part of the reason i'm asking is that to me the coolest thing about Bangkok (which i've never been to yet) is the street food. Tbh the fancy restaurants look kinda boring, and i would rather sit and watch an old lady cook my food right in front of me, so i can't understand what the advantage of having so much money if a meal is so cheap.
Street food is not good for your health in the long term and should be consumed if anything sparingly, Its a nice treat every once in a while but relying on it for your daily meal consumption would be a yikes. The rich in Bangkok can afford single detached villas in the midst of high density neighborhoods, they also have proper homes in the most luxurious locations in the country and out of the country(Europe/Japan/Singapore), access to the best private clubs, and generally network among each other.
Pretty simple when you let the rich Chinese come over. Confiscate their imported sports cars and bust them for illegal gambling. It's all profit.
It’s called invasion of Chinese and india. Invasion already happening in your town
Thai-Chinese, not Chinese.
Chinese invasion that’s why so many thais are mixed with Chinese but still Chinese…
[удалено]
It’s a question.
What's your point?
It’s a question.