BANGKOK, Thailand – The National Anti-Corruption Commission (NACC) released the asset declarations of Prime Minister Paetongtarn Shinawatra, revealing her wealth to be valued at over 13.3 billion baht, January 3. The report outlines her extensive assets, liabilities, and lifestyle choices, offering a detailed insight into the financial background of Thailand’s leader.
Total Assets: 13.3 Billion Baht
According to the declaration, Paetongtarn’s total assets amount to 13,993,826,903 baht. Out of this, 13,846,208,451 baht belongs to her personally, while 147,118,452 baht is attributed to her husband, Pitak Sukhsawas, and 500,000 baht to their minor child. In addition, the prime minister has reported debts totaling over 4.4 billion baht, most of which—4,439,980,600 baht—are attributed to her, with the rest attributed to her spouse.
High-Value Assets
Among her substantial assets, the most notable include:
Cash and Bank Deposits: Paetongtarn holds 7.27 million baht in cash and 1.08 billion baht in 29 bank accounts.
Investments: She has investments worth 11 billion baht in various funds and stocks in 32 companies.
Property: Paetongtarn owns 12 plots of land, including three in Pathum Thani (valued at nearly 10 million baht) and a plot in Hokkaido, Japan (valued at 30 million baht). Her real estate portfolio also includes several properties in Thailand, such as five condominium units in Bangkok, two houses in Nonthaburi and Bangkok, and a townhouse in Phetchaburi.
Vehicles: She possesses 23 luxury cars, including a Bentley Flying Spur Hybrid, a Rolls-Royce Phantom, and a Tesla Model X, with a combined value of over 20 million baht.
Luxury Items: The prime minister’s assets also feature 217 handbags worth 76.65 million baht, 75 luxury watches valued at 162 million baht, and a vast collection of jewelry, including rings, necklaces, and bracelets, which together total over 175 million baht.
Foreign Property and Leaseholds
In addition to her Thai properties, Paetongtarn has significant international holdings, including two leased properties in London. One is valued at 111.6 million baht, with a 987-year lease, and the other at 208.3 million baht, with a lease lasting 992 years.
Income and Expenditures
Paetongtarn’s declared income is substantial, totaling 265 million baht per year. This includes:
Salary, bonuses, and wages: 3.4 million baht
Dividends: 259.3 million baht
Interest: 2 million baht
Rental income: 890,000 baht
Her reported annual expenses total 57.7 million baht, including 45 million baht for personal spending, 1.2 million baht for insurance premiums, and 2 million baht for travel. Additionally, 1 million baht is allocated for her children’s education, and 7 million baht is used for household expenses.
Family Loans and Liabilities
The NACC report also highlights significant family loans, totaling over 2.8 billion baht, with loans from Paetongtarn’s mother, siblings, and other relatives. Notably, she has reported loans from her brother, Panthongtae Shinawatra, amounting to over 15 million baht, as well as additional debts from her mother, Phojaman Dhammapong, and uncle, Bannaphon Dhammapong, totaling several billion baht.
Luxury Collectibles and Personal Items
Among Paetongtarn’s other assets are:
Bearbrick figurines (9 pieces), valued at 1.9 million baht
Gold bars weighing 75 baht, valued at 3 million baht
Clothing, including 167 outfits valued at 26.75 million baht.
Noteworthy Remarks
Despite her wealth, Paetongtarn’s assets are coupled with significant liabilities. These include substantial loans from family members, adding complexity to her financial profile. The NACC’s full disclosure provides a comprehensive overview of the prime minister’s economic standing, bringing transparency to her financial dealings amid growing public interest.
While her wealth is undeniably vast, the report has also sparked discussions regarding her financial management and the sources of such extensive assets, particularly in light of her political status. Further inquiries into the legality and origins of certain assets and liabilities may arise as the investigation progresses. (TNA)
