Who is Fortune’s new Thai owner?
Linh Nguyen of Forbes writes about Chatchaval Jiaravanon, who bought Fortune magazine from Meredith Corp. for $150 million.
Nugyen writes, “While he may not be a household name yet, his uncle Dhanin Chearavanont is one of the wealthiest and most influential business leaders in Southeast Asia. Jiaravanon’s father is also a billionaire and his extended family, worth at least $36 billion, is one of Asia’s wealthiest. It ranked fourth among Asia’s richest clans in 2017 when Forbes last calculated their fortunes.
“His uncle Dhanin is the richest person in Thailand and is senior chairman of Charoen Pokphand Group — also known as CP Group, one of the world’s largest producers of animal feed, biggest shrimp farmers and largest poultry producers. In 2017, after 48 years as CEO, Dhanin named his eldest son, Soopakij, and the youngest, Suphachai, as CP’s chairman and CEO, respectively. He shares ownership of CP Group as well as large investments in retailing and telecom with his extended family, including Chatchaval’s father, Sumet Jiaravanon. Sumet is Dhanin’s eldest brother and is Thailand’s third richest tycoon and executive chairman of CP Group. Two other brothers of Dhanin and Sumet are also billionaires.
“Chatchaval Jiaravanon is no stranger to the U.S. He got his bachelor’s degree in business administration from the University of Southern California. Now age 56, he has been involved in his family business for years. A decade ago, he was appointed executive director of the family’s C.P. Pokphand Group. Jiaravanon is also involved in C.P. Group’s technology, media and telecom businesses. He serves as a board member of Asian communications conglomerate True Corporation.”
Read more here.