Srettha Thavisin
Srettha Thavisin (Thai: เศรษฐา ทวีสิน, RTGS: Settha Thawisin, Thai pronunciation: [sèːt.tʰǎː tʰā.wīː.sǐn] ⓘ; born 15 February 1962), nicknamed Nid (Thai: นิด, RTGS: Nit, pronounced [nít]), is a Thai businessman and politician serving as the Prime Minister of Thailand since 22 August 2023.[1] He was previously the chief executive and president of Sansiri.[2]
In this Thai name, the person is referred to by his given name, Srettha, and not by his surname, Thavisin.
Srettha Thavisin
- Phumtham Wechayachai
Somsak Thepsuthin
Parnpree Bahiddha-nukara
Anutin Charnvirakul
Patcharawat Wongsuwon
Pirapan Salirathavibhaga
Himself
15 February 1962
Bangkok, Thailand
Pheu Thai (since 2022)
- Naphat
- Warat
- Chananda
Marketing manager
Srettha, originally from Bangkok, pursued a degree in Civil Engineering after high school. He furthered his education in the United States, where he obtained Master's degree in business administration. Following his academic pursuits, he embarked on a professional journey that started with a four-year tenure as an assistant product manager. In 1998, he co-founded Sansiri, a venture that propelled him to become a billionaire and a leading real estate tycoon in his country.[3] Under his leadership, Sansiri experienced growth, even during challenging periods such as the pandemic. This growth phase of his business career came to a close when he decided to transition into politics, a move that involved transferring all his shares in the company. This decision marked a significant shift from his business endeavors to a focus on political engagement.
Prior to the 2014 coup, Srettha had connections with two Thai Prime Ministers from the Shinawatra family. In late 2022, he announced his intention to join the Pheu Thai Party and was subsequently considered one of its prime ministerial candidates. He played a pivotal role in leading the party to form a coalition government, following an unsuccessful attempt by the Move Forward Party. Consequently, the parliament elected him as the prime minister. Notably, his coalition government included two parties that were linked to the coup in 2014.
Srettha's tenure as Prime Minister has encompassed a range of domestic and international initiatives. On the domestic front, his administration has prioritized agricultural productivity, stimulating economic recovery, developing infrastructure, revitalizing tourism, education reforms, and implementing a digital wallet scheme that has sparked debate. Additionally, the government has actively engaged in the electric vehicle sector, the regulation of cannabis, and gun control measures. In the realm of international relations, Srettha's approach has been proactive in attracting foreign investments. This includes exploratory discussions with prominent business figures like Elon Musk regarding Tesla's potential involvement in Thailand's electric vehicle industry. His foreign policy strategy also involves navigating Thailand's stance in global conflicts and actively participating in international platforms such as the United Nations Human Rights Council. Under his leadership, Thailand has demonstrated a dedication to sustainable development and addressing climate change challenges. During his premiership, he was criticised by media and the opposition as a "puppet prime minister", under the control of the power behind the throne such as Thaksin Shinawatra,[4] the military,[5] and Pheu Thai Party.[6]
Early life and education[edit]
Srettha Thavisin, born on February 15, 1962,[7] in Bangkok, Thailand, is the only child of Captain Amnuay Thavisin and Chodchoi Jutrakul.[8][9] His family's lineage connects to five notable Thai Chinese business dynasties: Yip in Tsoi, Chakkapak, Jutrakul, Lamsam, and Buranasiri.[10] Srettha's educational journey began at the Prasarnmit Demonstration School of Srinakharinwirot University in Bangkok.[11] Pursuing higher education, he first obtained a bachelor's degree in Civil Engineering from Chulalongkorn University,[12] followed by a Bachelor of Arts in Economics from the University of Massachusetts Amherst.[13] He further advanced his academic credentials by earning a Master of Business Administration, specializing in Finance, from Claremont Graduate University.[14]
Business career[edit]
Srettha began his professional journey at Procter & Gamble as an assistant product manager, a role he held for four years after graduating from Claremont Graduate University in 1986.[15][9] His entrepreneurial venture took off in 1988 when he co-founded Sansiri, which emerged as one of Thailand's premier real estate developers.[16] His leadership steered the company to successfully develop over 400 residential projects.
The year 2013 marked a notable event in Thailand's economic development with Prime Minister Yingluck Shinawatra inaugurating the Thailand 2020: Thailand’s New Step to the World Expo at the Chaeng Watthana government complex on March 12. The expo showcased the government's proposed investments totaling 2 trillion baht.[17] Srettha, having inspected a nearby residential project, visited the expo and recommended his Sansiri colleagues to do the same, recognising its potential influence on the real estate sector. Despite public concerns about the project's financing and potential debt implications, Srettha expressed his support. In early 2019, he wrote favourably about the 2020 Expo, which paralleled his advocacy for a digital wallet scheme during his tenure as prime minister.[18]
Srettha's leadership at Sansiri contributed to the company's growth even during the challenging times of the COVID-19 pandemic.[19] In 2020, notable developments included his acquisition of a land parcel at the corner of Sarasin road near Lumphini Park in Bangkok. This purchase, costing ฿3.9 million per square wah (approximately 4m²), stands as one of the most expensive land purchases in Thai history. Additionally, in the same year, Srettha acquired a 15% stake in XSpring Capital Public Company Limited.
Due to regulations in Thai electoral laws prohibiting elected officials from owning or holding shares in companies, Srettha transferred all his shares to his daughter, Chanada Thavisin, on 8 March 2023. This transfer included his shares in Sansiri, representing 4.4% of the company.[20]
In a separate development on August 17, 2023, Chuwit Kamolvisit filed a complaint with the deputy commissioner-general of police, Surachate Hakparn, seeking an investigation into Srettha's 2019 land purchase in Bangkok. Chuwit accused Srettha and Sansiri of tax evasion.[21] In response to these allegations, Srettha filed a defamation lawsuit for ฿500 million against Chuwit, specifically regarding comments made during a press conference on 3 August.[22]
Prime Minister of Thailand (2023–present)[edit]
Government formation[edit]
Srettha was elected as Thailand's next prime minister by a joint sitting of parliament on 22 August 2023. His immediate responsibilities included the formation of a cabinet and the presentation of his policies for the forthcoming four years to parliament.[36] The following day, King Vajiralongkorn officially appointed Srettha as the 30th Prime Minister of Thailand.[37] After the appointment, Srettha delivered his inaugural address as prime minister.[38]
On 5 September, Srettha was sworn in as prime minister and minister of finance by the King. The ceremony took place at the Amphon Sathan Residential Hall in Dusit Palace, Bangkok.[39] The new cabinet formed by Srettha is composed of 34 ministers representing six parties within the governing coalition.[40] This includes several ministers who had served under the previous administration of Prayut Chan-o-cha.[3] Following the swearing-in ceremony, Srettha affirmed his commitment to commencing work with his cabinet immediately.
Political positions[edit]
Social issues[edit]
Srettha has been known for his support of former Prime Minister Thaksin Shinawatra, who was removed from office in 2006.[198] This support was notably demonstrated in 2010 when Srettha wore a red shirt featuring Thaksin's face, coinciding with his appointment as the head of the Royal Bangkok Polo club's football team. Srettha's political stance has also been evident in his criticism of then-Prime Minister Prayut Chan-o-cha's management of the COVID-19 pandemic in Thailand. Additionally, he has shown support for the pro-democracy protests that occurred from 2020 to 2021, calling on UNICEF to urge the government to avoid violence against protesters.[199] During his 2023 election campaign, Srettha publicly stated his reluctance to form a coalition government with United Thai Nation and Palang Pracharat.[9] However, upon his swearing-in as prime minister, the coalition cabinet included members from these parties.[200]
In terms of social issues, Srettha is identified as a liberal.[201] He has expressed opposition to conscription[8] and has been an advocate for environmental sustainability and LGBTQ rights.[202][23] Despite these progressive stances, Srettha has shown reluctance to propose changes to the lèse-majesté laws, a decision attributed to maintaining support within the coalition government formed by Pheu Thai with other parties.[203]
Economics[edit]
In a 2023 interview with FAROSE, Srettha clarified his positions on economic issues. He stated that he believes in "capitalism with empathy". As an ex-CEO and businessman who recently entered politics, he believes that capitalism and empathy for the poor can go hand in hand. He stated that "The various problems that come with economic disparity and social inequality should be discussed with empathy and understanding." With Pheu Thai, he has pledged to stimulate the economy and combat poverty through raising the minimum wage and implementing a ฿10,000 'digital wallet' scheme.[201]
Personal life[edit]
He is married to Pakpilai Thavisin, a businesswoman.[204] They have two sons, Napat Thavisin and Warat Thavisin, and one daughter, Chananda Thavisin.[9] He is a collector of classic travel trunks, such as those made by Louis Vuitton.[14] Srettha also is a supporter of Liverpool F.C., and also contributes to Sansiri Academy which trains football players in Thailand.[205]
Srettha stands 1.92 metres (6 ft 4 in) tall, making him the tallest leader within ASEAN and the third tallest in the world behind the Prime minister of Albania, Edi Rama who stands at 2.01 metres (6 ft 7 in) and the President of Serbia, Aleksandar Vučić, who stands at 1.98 metres (6 ft 6 in).[206]
Srettha frequently uses social media, especially on X where he actively uses his account to post updates.[80]
On 28 December 2023, the National Anti-Corruption Commission revealed that he had a wealth valued around ฿659 million, and that he owns a 1963 Aston Martin DB5 worth ฿50 million. His yearly earnings was around ฿153 million.[207]