Thailand PM Declares Over $400 Million Worth Assets; Including 75 Luxury Watches, Over 200 Designer Handbags

Thailand's Prime Minister Paetongtarn Shinawatra has declared assets totalling over $400 million, which includes more than 200 designer handbags, 75 luxury watches, and other assets.

The declaration, submitted to the National Anti-Corruption Commission (NACC), reveals that Shinawatra holds 13.8 billion baht (approximately $400 million) in total assets, including 11 billion baht in investments and an additional one billion baht in cash and deposits.

Photo Credit: AP/PTI

Among her assets are 75 watches worth 162 million baht, 39 timepieces, and 217 handbags valued at 76 million baht. She also owns properties in London and Japan. However, she has liabilities close to five billion baht, which leaves her with a net worth of 8.9 billion baht ($258 million).

Paetongtarn Shinawatra is the daughter of former prime minister Thaksin Shinawatra and assumed office in September. She is the fourth member of her family to hold a leadership role in the Thai government over the past two decades. Her father, with an estimated net worth of $2.1 billion, is ranked as the 10th richest person in Thailand, according to Forbes.

In comparison, Paetongtarn's predecessor Srettha Thavisin declared assets of 985 million baht when leaving office, a decrease from his initial declaration of 1.02 billion baht at the start of his term.

Yuttaporn Issarachai, an analyst from Sukhothai Thammathirat University, stated, "In a nation without a fully functioning democracy, money plays a crucial role in political activities. This has often been the justification for military interventions, with claims of a lack of transparency."