Business

Thailand’s five richest billionaires, still led by the family behind Red Bull, have all grown richer over the last year, with their combined fortune rising $13.1 billion to $124.4 billion. Most of their rankings were unchanged, except for beer-to-property tycoon Charoen Sirivadhanabhakdi, who fell to fifth from fourth last year, according to Forbes. Chalerm Yoovidhya & family The Yoovidhya family, co-owners of the Red Bull energy drink empire, is led by Chalerm Yoovidhya. The

President Donald Trump recorded around US$1.2 billion in income from his cryptocurrency activities in 2025, according to documents released Tuesday by the U.S. Office of Government Ethics. U.S. President Donald Trump at the White House on May 15, 2026 A 1978 law requires the president and vice president of the United States to declare their income as well as their assets. According to the documents, which are more than 900 pages long, Trump received nearly $550 million from h

Prajogo Pangestu, once Southeast Asia’s richest man, has seen his net worth decline by $25 billion in the last six months, driven by the stock plunge of his companies amid a sell-off in Indonesia’s broader market. Prajogo Pangestu, chairman of Barito Pacific Group The 82-year-old energy tycoon is now worth $14.3 billion, compared to $39.5 billion at the end of last year, according to Forbes. The chairman of Barito Pacific Group has lost the title of the richest man in Southea

Thailand's top billionaire Sarath Ratanavadi has raised his ownership in Gulf Development after partner Singtel offloaded SGD1 billion (US$771 million) worth of shares in the Bangkok-based energy and telecommunications company. Sarath Ratanavadi, CEO of Gulf Development Singtel announced it divested a 2.8% stake in Gulf Development to institutional investors through a private placement, generating exceptional gains of approximately SGD140 million, as the Singaporean telecom g

Few business leaders have been as deeply embedded in popular culture as Elon Musk, the ambitious entrepreneur who has become a central figure in internet culture and amassed a fortune that has made him the world's first trillionaire. At a time when concerns about inequality are high and public attitudes toward the ultra-wealthy have soured, Musk has managed to retain a loyal following despite his stratospheric net worth ‌and without the folksy persona that endeared other tyco

A group of banks is moving to seize a Sheraton-branded hotel property in Hong Kong, controlled by the family of billionaire Hui Wing Mau, after owner Shimao Group Holdings defaulted on a HKD4.5 billion (US$574 million) loan. Founder and chairman of Shimao Group Hui Wing Mau speaks at an overseas Chinese business roundtable during the 2015 Boao Forum for Asia (BFA) in Boao, south China's Hainan Province, March 29, 2015 The lenders are in advanced discussions to appoint receive

Elon Musk's SpaceX on Thursday confirmed it will begin trading on the Nasdaq exchange Friday in the biggest initial public offering in history, a blockbuster market debut that could propel the entrepreneur to trillionaire status. In a filing with the US markets regulator, the company priced more than 555 million shares at $135 each, placing SpaceX in the top 10 of Wall Street's biggest companies with a valuation of just under $1.8 trillion. It will be valued more than Musk's

Quantinuum founder Ilyas Khan has become a billionaire after the quantum computing firm's Nasdaq debut valued the company at more than $15.6 billion. The U.S.-U.K.-based startup raised $1.68 billion in its June 3 debut, the largest stock market listing by a quantum computing company to date, valuing Khan's stake at approximately $2.2 billion, Forbes reported. Quantinuum sold 28 million shares at $60 each in the offering. The stock opened at $58 on June 9. Khan, 64, owns about