Sarath Ratanavadi has solidified his position as Thailand’s wealthiest individual, with his fortune on the rise driven by the imminent completion of the merger between his energy and telecom entities.
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Sarath Ratanavadi has solidified his position as Thailand’s wealthiest individual, with his fortune on the rise driven by the imminent completion of the merger between his energy and telecom entities.
Over the past three months, Sarath’s net worth surged to over $16 billion, marking an increase of approximately $7 billion as per the Bloomberg Billionaires Index. This significant growth follows a substantial 52% increase in shares of Gulf Energy Development Public Company Limited (SET: GULF), positioning him among the top five in Asia’s energy and power sector alongside notable figures like Mukesh Ambani and Gautam Adani of India.
Investor confidence in Sarath’s strategy to amalgamate Gulf Energy with Intouch Holdings Public Company Limited (SET: INTUCH), a major telecom operator in Thailand, has been evident through robust shareholder support for the merger, leading to…