PUBLISHED: January 3, 2025, 13:14
Prime Minister Paetongtarn “Ung Ing” Shinawatra, with her husband Pitaka Suksawat, has reported a substantial combined wealth of 13.9 billion baht, which includes properties in London and land holdings on Hokkaido Island, alongside debts totaling approximately 4.4 billion baht, as disclosed by the National Anti-Corruption Commission (NACC).
The NACC released the asset and liability statements on December 24, 2024, highlighting Ms. Paetongtarn’s financial details following her appointment as the 31st Prime Minister on September 6, 2024.
According to the declaration, the couple’s total assets stand at 13.99 billion baht, with Ms. Paetongtarn’s assets valued at 13.84 billion baht and those of Mr. Pitaka at 141.11 million baht. Their children are reported to hold assets worth 500,000 baht.
The total debt of the couple amounts to 4.44 billion baht, with Ms. Paetongtarn reporting 4.43 billion baht and Mr. Pitaka at 1.17 billion baht.
At the age of 38, the prime minister’s reported annual income is 265 million baht, which includes a salary of 3.40 million baht, dividends totaling 259.26 million baht, interest of 2 million baht, and rental income of 890,000 baht. Her annual expenditures amount to 57.72 million baht, divided into 45 million baht for personal expenses and 7 million baht for household costs.
Significant assets owned by Ms. Paetongtarn include:
- Cash amounting to 7.27 million baht
- Deposits totaling 1.08 billion baht
- Investments worth 11 billion baht
- Lending assets of 15.23 million baht
- Land plots valued at 724.92 million baht
- Properties worth 168.61 million baht
- Vehicles valued at 66.77 million baht
- Concession rights estimated at 358.78 million baht
- Other miscellaneous assets worth 416.63 million baht
As the youngest daughter of former Prime Minister Thaksin Shinawatra, Ms. Paetongtarn’s assets also include cash held in various foreign currencies, deposits across 29 bank accounts, and investments in 32 funds and companies.
Among her significant real estate holdings are 12 land plots; specifically, three in Pathum Thani worth 9.9 million baht, and two in Hokkaido purchased in December 2019 for 15 million baht each. Additionally, she owns two rental properties in London, valued at 111.61 million baht and 208.34 million baht, respectively, alongside five condominiums in Bangkok, two houses in Nonthaburi and Bangkok, and commercial properties in Phetchaburi.
Ms. Paetongtarn maintains a fleet of 23 luxury vehicles, including a Bentley valued at 10.6 million baht and a Rolls-Royce Phantom worth 6.7 million baht.
Other notable assets include gold bars weighing 75 baht, valued at approximately 3 million baht, 75 luxury watches estimated at 162 million baht, nine Bearbrick collectible figures worth 1.9 million baht, and 217 luxury bags totaling 76.65 million baht.
A spokesperson for the ruling party confirmed the accuracy of the reported financial figures.
Thaksin Shinawatra, Ms. Paetongtarn’s father and former Prime Minister, has an estimated net worth of 2.1 billion USD, ranking him as the 11th richest individual in Thailand. His wealth, largely generated through his telecommunications company, has facilitated his prominent political career, ensuring the influence of his family persists even during his extended exile following his removal in a military coup in 2006.
