Thailand’s Prime Minister Paetongtarn Shinawatra has declared assets worth US$400 million, which include two properties in London, luxury watches, and handbags. In addition to her impressive asset portfolio, she holds 1.09 billion baht (approximately US$31.6 million) in cash spread across over two dozen bank accounts. Her total assets amount to 13.85 billion baht [41bab779].
In a significant move to stimulate the economy, the Thai government has transferred about 30 billion baht (US$890 million) to over three million senior citizens, providing each with 10,000 baht (US$297). This cash handout is part of a government program aimed at addressing high living costs and boosting the US$500 billion economy. Prime Minister Paetongtarn stated that the initiative is expected to enhance economic growth, which the government aims to increase by about 3% this year [18669cda].
Paetongtarn, the youngest daughter of billionaire Thaksin Shinawatra, became Prime Minister in August 2024 following the ousting of Srettha Thavisin. In November 2024, she transferred a 24% stake in SC Asset Corp, further highlighting her significant financial dealings [41bab779].
The cash handout program was initially delayed due to legal risks and the readiness of the digital application system. However, Finance Minister Pichai Chunhavajira expressed confidence that economic growth will exceed expectations due to these stimulus measures and foreign investments. The cash handout could potentially add 0.1 percentage point to the GDP, and a digital payment system for remaining eligible applicants is expected to be ready by the second quarter [18669cda].
Her spouse, Pidok Sooksawas, has reported assets totaling 147 million baht, contributing to the family's overall wealth. The coalition government, which Paetongtarn leads, aims to enhance Thailand's economy while addressing the challenges posed by a Gini coefficient of 43.3% as of 2021, indicating high income inequality [41bab779].