The Forbes Thailand Rich List 2024 was officially released not long ago, and the richest people on the list come from industries such as food and beverage, fashion and retail, energy, manufacturing, and media and entertainment. What is particularly striking is that the top three on this year's rich list are all from the traditional and dynamic field of food and beverage.
Compared to other industries, the food and beverage industry has been relatively less affected by technology. Many classic products such as Coca-Cola, Pepsi, Red Bull, etc., have not changed much in technology and taste over the years, and are more about continuous innovation in packaging and marketing. In addition, food and beverage companies also strengthen consumers' sense of identity and loyalty to their brands by creating unique brand culture and values. Moreover, the leading enterprises in the industry are often able to establish a strong brand advantage, form a brand monopoly, and further consolidate their market position.
The third richest person in Thailand is Su Xuming, whose ancestral home is Shantou, Guangdong, worth $10 billion, and he owns Thailand's largest brewery and group. Su Xuming believes that wine is a widely circulated consumer product, whether rich or poor, there will be people who love to drink, because "the drunkard's intention is not to drink", it is a kind of fun or pastime. He has a keen insight into market conditions and business opportunities, and is good at formulating strategies and plans to accurately grasp business opportunities. Su Xuming's success is largely due to his strategizing personality.
The second place on Thailand's rich list is the Xie brothers of CP Group, whose ancestral home is Shantou, Guangdong, and worth $29 billion. This multinational giant, which spans multiple sectors such as agriculture, food and retail, is one of the most influential companies in Thailand and Southeast Asia. With excellent business vision and unremitting efforts, the Hsieh brothers have built CP Group into a diversified and international business empire. The secret of the Hsieh brothers' success lies in the constant pursuit of innovation and technological progress. They are actively investing in emerging technologies and sustainability projects while maintaining the steady growth of their traditional businesses.
Thailand's new richest man and Southeast Asian beverage king is Xu Shuen and his family, whose ancestral home is Wenchang, Hainan, with assets of 36 billion US dollars (equivalent to about 260 billion yuan). Xu Shuen is one of the heirs of the late Red Bull brand founder Xu Shubiao. Red Bull is not only one of the most popular energy drinks in the world, but also a cultural icon. In the '70s, Xu Shubiao developed an energy drink (Red Bull) that was targeted at blue-collar workers such as shift workers and truck drivers, helping them stay awake while staying up all night at work. Later, Austria businessman Dietrich · Matsiitz brought Red Bull to Europe and the United States, where it gained widespread recognition worldwide for its unique formula and strong brand image.
In recent decades, Red Bull has become one of the best-selling beverages in the world, sold in more than 100 countries and regions. Xu Shubiao relied on this formula to earn a net worth of more than 100 billion, and his family inherited all this after his death. Xu Shuen and his family continue to carry on the spirit of Xu Shubiao and drive the expansion of the Red Bull brand in the global market. In addition to its core energy drink business, Red Bull is also involved in a variety of other areas, such as sports sponsorship, music festivals, and esports. These campaigns not only increased the brand's awareness, but also created a new revenue stream for Red Bull.
For a brand to succeed in the market, it must not only focus on product quality, but also need to have a clear brand positioning, innovative product development capabilities and effective marketing strategies. What's more, this success requires the tireless efforts of generations of entrepreneurs.