Inspirational Friday: King of Duty Free in Thailand

620x434Vichai Srivaddhanaprabha
Age: 56
Source Of Wealth: duty-free, Self Made
Residence: Bangkok, Thailand
Net Worth: 1.5 Billion
#7 riches in Thailand
#1154 billionaires in the world.

The King Power Foundation was established by Mr. Vichai Srivaddhanaprabha, Group Chairman and CEO of King Power Group of Companies. His initial vision for the foundation was to benefit Children’s Health and Education, and to provide a variety of programs for the underprivileged in Thai society. Since its inception on 24th December 2004, the foundation has raised 1,445 million Baht, which it has presented to His Majesty the King, and dispersed to various other projects within the Kingdom of Thailand.
Revenues of King Power which has a monopoly on retail operations at Bangkok’s Suvarnabhumi airport and the recently revamped budget airport, Don Muang started surging in 2012. This gain plus new information on his shareholdings which include a 4% stake in Thai budget airline Nok Air, gave his wealth a boost, earning him a spot on the Forbes Billionaires list for the first time. He also owns English football team Leicester City and attends all of team’s home games.Vichai changed his surname from Raksriaksorn, when the monarchy bestowed upon him the honorific Srivaddhanaprabha, which means “light of progressive glory.
References:
http://www.forbes.com/profile/vichai-srivaddhanaprabha/
http://www.kingpower.com/kingPowerFoundation

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