Thailand’s Prime Minister Paetongtarn Shinawatra has declared assets totaling an impressive $400 million, showcasing her extensive wealth and investments. Among her holdings are two properties in London, significant stakes in various companies, and an array of luxury items, including watches and handbags.
The 38-year-old leader, a member of the influential Shinawatra family, disclosed her wealth to the National Anti-Corruption Commission as required for public office holders in Thailand. The commission made the information public on Friday, offering a glimpse into the financial standing of the country’s third Shinawatra-led administration.
According to the declaration, Paetongtarn’s assets include 1.09 billion baht ($31.6 million) in cash and deposits across more than two dozen bank accounts, contributing to her total wealth of 13.85 billion baht. She also listed nine properties and multiple plots of land in Thailand, a co-owned parcel in Hokkaido, Japan, and an apartment on Montpelier Street in London under a 992-year lease.
Her wealth extends to personal items, with her collection encompassing 217 luxury handbags, 108 rings, 205 pairs of earrings, and nine Bearbrick designer art toys. She reported an income exceeding 265 million baht last year.
Wealth and Legacy
Paetongtarn is the youngest daughter of Thaksin Shinawatra, the billionaire politician and former prime minister who made his fortune in telecommunications during Thailand’s technology boom of the 1980s and 1990s. After assuming office in August, she became the third member of the Shinawatra family to lead the nation.
Before taking office, Paetongtarn transferred her 24% stake in SC Asset Corp, a family-controlled property developer, to a fund manager. Her portfolio now includes approximately 11 billion baht in company investments.
Her spouse, Pidok Sooksawas, reported assets of 147 million baht and an annual income of 5.13 million baht, which included cryptocurrency trading gains. He serves as the co-chief executive officer of Rende Development Co., a Shinawatra family enterprise encompassing real estate, hospitality, and telecommunications.
Economic Challenges and Ambitions
As leader, Paetongtarn has pledged to revitalize Thailand’s $500 billion economy, which has struggled to keep pace with other Southeast Asian nations. Her administration aims to alleviate the cost of living for the country’s 66 million residents through measures such as cash handouts, increased state spending, and foreign investment in sectors like data centers and electric vehicles.
Despite these efforts, Thailand continues to grapple with stark income inequality, boasting the highest Gini coefficient in East Asia and the Pacific at 43.3% in 2021, according to the World Bank. Paetongtarn’s administration faces the dual challenge of fostering economic growth while addressing the nation’s deep-rooted disparities.
