The Billionaire Heir of Red Bull in Thailand Has Transferred a $1.1 Billion Share to a Trust Company

Chalerm Yoovidhya, heir to the Red Bull energy drink fortune, has conveyed his 2% equity in the company, appraised at around US$1.1 billion, to a trust corporation located in Geneva.

Thai businessman Chalerm Yoovidhya and his wife Daranee Yoovidhya attend the Formula One Austrian Grand Prix at the Red Bull race track in Spielberg, Austria on July 2, 2023. Photo by AFP

An Austrian regulatory filing released to the corporate registration on Monday indicates that the transfer occurred on May 20; however, it did not provide the rationale for the transaction, the final controller of the stock, or its potential destination, as reported by Bloomberg.

A Red Bull spokeswoman commented on the transfer via email: "Fiduciary solutions like this are prevalent to guarantee long-term continuity in large, successful enterprises."

Fides Trustees collaborates with affluent families and people globally to adjust their personal structures in light of alterations in personal and familial situations.

Chalerm, 74, acquired the interest almost forty years ago when his father, the deceased Thai magnate Chaleo Yoovidhya, collaborated with Austrian billionaire Dietrich Mateschitz to promote the brand internationally.

Chaleo, born into destitution in northern Thailand, undertook various occupations before to establishing TC Pharmaceutical Industries in 1962. He developed an energy tonic named Krating Daeng, translating to "red bull" in Thai, as reported by the Wall Street Journal.

In 1982, the beverage attracted Mateschitz's attention, leading to a collaboration between the two men to expand its global reach. Each spent US$500,000, acquiring a 49% equity part in the firm, while the remaining 2% was allocated to Chalerm.

The Yoovidhyas retain a 49% equity interest in the company, valued at around $27.9 billion, informed by Red Bull's success and comparative analysis with peers.

Forbes designated them as Thailand's wealthiest family, with a net worth of $36 billion, in July.