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The latest Forbes Asia's Thailand Rich list showed that the combined wealth of Thailand's 40 richest people remained unchanged at US$25 billion (Bt838.92 billion), with the net worth of 77-year old Chaleo, who co-founded Red Bull, also stayed flat at $4 billion.

The second man on the list was Dhanin Chearavanont, head of the agribusiness conglomerate Charoen Pokphand Group, one of the world's biggest feed and poultry companies. Dhanin, who moved up the ranking by two notches, is also the biggest gainer in dollar terms - his net worth rose by $1 billion to $3 billion.

Other tycoons in the food and agriculture businesses also enjoyed a boost in their net worth. Among them are sugar barons - Mitr Phol Sugar's Isara Vongkusolkit (eighth with $900 million) and Khon Kaen Sugar Industry's Nantha Chinthammit (18th with $360 million) - as well as seafood tycoon Kraisorn Chansiri (28th with $175 million).

Bucking the trend, however, was Charoen Sirivadhanabhakdi of Thai Beverage, whose net worth fell to $2.8 billion from $3.9 billion last year. Ranked fourth on the list, he also suffered the largest decline among his fellow tycoons.

The third richest in Thailand are descendants of the founder of Central Group, Tiang Chirathivat, including families of his three wives and 25 children. Their combined wealth rose by $100 million to $2.9 billion. Their shared net worth is largely derived from their ownership of Central Retail and their 60 per cent stake in listed developer, Central Pattana.

Still firmly in the limelight is Thaksin Shinawatra, who is the 16th richest with a net worth of $390 million, down from $400 million last year. The fugitive former PM is the 19th on the list who saw their net worth drop this year.

Also poorer is hospitality tycoon William E Heinecke who dropped five places to No 20 as his wealth of $350 million dropped by $110 million this year. Political turmoil and the global recession seem to have taken their toll on his business empire and personal net worth, but the irrepressible optimist moves on.

"You learn through every crisis, every challenge," Heinecke said in the latest issue of Forbes Asia.

This year's list has four new faces led by long-time Thai resident Aloke Lohia, who has the highest ranking at 19th with a net worth of $355 million. The 50-year old tycoon started Indorama Polymers, which earned $1.2 billion in sales last year.

Other newcomers include Worawit Weeraborwornpong of Siamgas and Petrochemicals (30th with $165 million) and lingerie magnate Virot Thanalongkorn (35th with $130 million). Both made their companies public last year before the markets tanked.

The fourth newcomer is Pongsak Viddayakorn, board member of Bangkok Dusit Medical Services, who was ranked 36th with $125 million.

When compiling the list, public assets were calculated using share prices and exchange rates as of September 10. For privately held wealth, Forbes Asia estimated what they would be worth using information from the Commerce Ministry and other sources. This ranking, unlike the Forbes' billionaires list includes family holdings shared by individuals and their children, grandchildren and siblings.