On the steps of the illustrious Government House, Prime Minister Paetongtarn “Ung Ing” Shinawatra showcased an elegant piece of traditional Thai attire right before diving into yet another of her high-powered cabinet meetings on December 24, 2024. Caught in the flash of cameras, she exuded confidence, her choice of attire reflecting not only her personal style but her deep-rooted love for Thailand’s cultural heritage. But while her fashion sense may have stolen the show, it was her substantial fortune, co-owned with her husband, Pitaka Suksawat, that had tongues wagging.
The National Anti-Corruption Commission’s (NACC) recent revelation took the nation by storm, outlining the impressive collective wealth of this power couple at a whopping 13.9 billion baht. The portfolio, as intriguing as it is diverse, includes a pair of pristine houses in the heart of London and two awe-inspiring land plots amidst the picturesque landscapes of Japan’s Hokkaido island. Yet, despite their soaring affluence, they also carry debts, amounting to a significant 4.4 billion baht.
In a remarkable ascent to power, Ms. Paetongtarn became Thailand’s 31st prime minister on September 6 of last year, following the surprisingly swift exit of Srettha Thavisin by the Constitutional Court. Since then, her journey through political corridors has been nothing short of a roller-coaster ride, punctuated by strategic moves, commendable leadership, and eye-catching personal disclosures.
The NACC’s asset declaration brought to light that the duo’s consolidated wealth amounted to 13.99 billion baht—while Ms. Paetongtarn herself is in possession of an immense 13.84 billion baht, Mr. Pitaka contributes a modest 141.11 million baht to the total. Their children, not to be outdone, hold assets collectively worth half a million baht.
Yet, their financial picture isn’t entirely rosier shades; the couple is also saddled with a debt of 4.44 billion baht, divided into Ms. Paetongtarn’s 4.43 billion baht and Mr. Pitaka’s 1.17 billion baht.
Beyond these staggering figures lies the prime minister’s yearly income, a handsome 265 million baht, accrued from a bevy of sources: her official salary of 3.40 million baht, a considerable 259.26 million baht in dividends, interest earnings to the tune of 2 million baht, and rental income shy of a million at 890,000 baht. Playing the balancing act, her expenses stand at 57.72 million baht annually, covering personal indulgences and household necessities.
Unpacking Ms. Paetongtarn’s fortune reveals:
- Cash liquidity of 7.27 million baht
- Bank deposits totaling 1.08 billion baht
- Investments reaching a colossal 11 billion baht
- Lending capacities amounting to 15.23 million baht
- Land holdings valued at 724.92 million baht
- Properties estimating 168.61 million baht
- Automobiles priced at 66.77 million baht
- Concession rights at 358.78 million baht
- Other valuable assets summing up to 416.63 million baht
With Thaksin Shinawatra’s legacy coursing through her veins, Paetongtarn’s affinity for diverse investments extends far and wide—spanning various foreign currencies, 29 bank accounts, and an impressive array of 32 investment funds and enterprises.
Her property empire includes twelve cherished land plots, three of which are nestled in Pathum Thani province, estimated at 9.9 million baht, and two scenic sites purchased on Hokkaido for 15 million baht each back in December 2019. Her London ventures encompass two prime rental properties, priced at 111.61 million baht and 208.34 million baht, respectively, flanked by five chic condominiums in Bangkok and exquisite homes in Nonthaburi and Bangkok, not to mention commercial buildings thriving in Phetchaburi.
Lovers of luxury might swoon knowing Ms. Paetongtarn possesses an enviable fleet of 23 vehicles from prestigious brands, including a Bentley clocking in at 10.6 million baht and a Rolls-Royce Phantom valued at 6.7 million baht.
Taking a peek into her treasure trove reveals glimmering gold bars weighing a significant sum of 75 baht—approximately 3 million baht in worth—and an immaculate set of 75 luxurious watches appraised at 162 million baht. A collection of nine quirky Bearbrick figures adds charm, valued at 1.9 million baht, accompanied by a whooping 217 luxury bags perfect for any fashionista, amounting to an incredible 76.65 million baht.
In Thailand’s political landscape at the twilight of 2024, Prime Minister Paetongtarn stands not just as a notable leader, but a testament to prosperity in motion, bridging tradition with modernity effortlessly, and captivating a nation and observers far beyond her homely borders.
Wow, that’s a lot of wealth for one person to have. Isn’t it unethical for a leader to be that rich while people are struggling?
Well, it’s not like she acquired all that wealth after becoming PM. She’s been in business for years. Besides, isn’t it more about how she’s managing the country?
True, her leadership is important, but the wealth imbalance is still concerning.
Wealth inequity is a systemic issue. Leaders being affluent doesn’t automatically mean they’re not handling socio-economic issues adequately.
Why shouldn’t she enjoy her wealth? As long as she’s governing well, her personal finances are her business.
I really appreciate how she wears traditional attire. It’s a great way to show national pride as a leader.
Her asset portfolio is so varied! Investing internationally shows strategic thinking beyond national borders.
Her investments in Hokkaido are probably to evade taxes. Never trust these politicians!
Those are serious charges without evidence. Many investors hold properties abroad for diversification.
As a Prime Minister, it’s brave of her to disclose such personal financial details. Transparency is rare, especially in politics.
Seems like a PR move to me. I’ve seen too many polished images hiding dark secrets behind the scenes.
13.9 billion baht and she still manages substantial debt? That’s just bad financial planning.
High net worth individuals often operate in ways that leverage debt strategically for business growth.
I get that, but it feels reckless at this scale. It could hurt her image if not managed well.
Her jewelry and car collection really highlight how out of touch she might be with the average Thai citizen.
I’m amazed by how she balances leading a nation and managing such a vast fortune. This is a power couple for sure!
I’m more interested in how she accrued such wealth before her tenure as PM. Smart investments or questionable activities?
Back in my country, politicians don’t ever disclose such wealth. Thailand is setting a benchmark for transparency!
She seems more like a business tycoon than a Prime Minister. Her focus should be policy, not profit!
Considering the Shinawatra legacy, it’s no shock she amassed such fortune. But how much is from public service connections?
No leader should hold such wealth. Creates a clear conflict of interest. She won’t think like the average citizen.
In an ideal world, maybe, but politicians everywhere tend to be wealthier than average. We need to focus on their performance.
Despite her wealth, I appreciate her nod to Thai traditions. Culture is important for national identity.
Could you imagine that car collection? That’s like the dream garage!
With her wealth, it’s crucial that Paetongtarn focuses on sustainable policies to ensure her legacy is positive.