Thai PM Declares Over $400 Million in Assets, Including Luxury Watches and Handbags

Thailand’s Prime Minister Paetongtarn Shinawatra, the youngest daughter of telecom magnate and ex-premier Thaksin Shinawatra, has disclosed assets exceeding $400 million, including an extensive collection of designer handbags and luxury watches.

In a filing to the National Anti-Corruption Commission (NACC), Paetongtarn reported 13.8 billion baht ($400 million) in total assets, consisting of:

• 217 handbags valued at 76 million baht ($2.1 million)
• 75 luxury watches worth 162 million baht ($4.7 million), alongside an additional 39 timepieces
• 11 billion baht in investments
• 1 billion baht in deposits and cash
• Properties in London and Japan

Her liabilities amounted to nearly 5 billion baht ($142 million), leaving her with a net worth of 8.9 billion baht ($258 million), according to the NACC filings.

Paetongtarn’s father, Thaksin Shinawatra, remains one of Thailand’s wealthiest individuals with a net worth of $2.1 billion, according to Forbes. Known for leveraging his Shin Corp telecom empire to enter politics, Thaksin has maintained significant influence despite living in exile after a military coup ousted him in 2006.

Paetongtarn’s rise to power in September marks her as the fourth member of the Shinawatra family to lead a Thai government in the past two decades, reinforcing the clan’s enduring political and economic legacy.

Under Thai law, public officials are required to declare their assets upon taking office. Paetongtarn’s declaration follows a precedent set by her predecessor, Srettha Thavisin, who reported 985 million baht in assets during his tenure.

The filing sheds light on the vast wealth held by Thailand’s political elite, a topic often scrutinized by the public and opposition parties.

The extensive luxury holdings have sparked mixed reactions. Supporters highlight her transparency and economic stature, while critics question the influence of wealth in Thai politics.