Thailand’s Prime Minister Paetongtarn Shinawatra revealed an extensive asset declaration on Friday, which included more than $400 million in holdings. This declaration, shared by her party, includes an impressive collection of designer handbags and luxury watches valued at over $7 million.
Paetongtarn, the youngest daughter of telecom billionaire and former Prime Minister Thaksin Shinawatra, assumed office in September, marking her as the fourth member of the influential Shinawatra family to lead Thailand’s government in two decades.
As required by law, Paetongtarn filed her assets and liabilities with the National Anti-Corruption Commission (NACC). According to a document posted by local media outlets, the Prime Minister’s total assets amounted to 13.8 billion baht ($400 million). These assets include 11 billion baht in investments and an additional one billion baht in deposits and cash.
Among her holdings, Paetongtarn declared 75 luxury watches worth 162 million baht and 217 designer handbags valued at 76 million baht. Other notable assets include properties in London and Japan. In addition to her wealth, she listed liabilities amounting to nearly five billion baht, leaving her with a net worth of 8.9 billion baht ($258 million).
The figures reported were confirmed by a representative of the Pheu Thai Party.
Paetongtarn’s father, Thaksin Shinawatra, who also served as Prime Minister and previously owned Manchester City Football Club, has an estimated net worth of $2.1 billion, according to Forbes. His wealth, generated from the telecommunications empire Shin Corp, played a key role in his rise to political power. Despite his exile following a military coup, the Shinawatra family has remained a dominant political force in Thailand.
Analysts point out the longstanding relationship between wealth and politics in Thailand. “In a nation without a fully functioning democracy, money plays a crucial role in political activities,” said Yuttaporn Issarachai, a political analyst at Sukhothai Thammathirat University. “This has often been used as a justification for military interventions, which claim a lack of transparency in governance.”
In comparison, Paetongtarn’s immediate predecessor as Prime Minister, Srettha Thavisin, declared assets of 985 million baht when he was dismissed by Thailand’s constitutional court in August, a slight decrease from his original 1.02 billion baht declaration.
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