logo
Red Bull Heir Moves $1.1 Billion Stake to Geneva Trust Firm

Red Bull Heir Moves $1.1 Billion Stake to Geneva Trust Firm

Bloomberg04-06-2025
When an Austrian marketer and a Thai businessman decided to launch Red Bull to the world, they settled on a simple ownership structure: each would own 49% of the venture.
Chalerm Yoovidhya, a son of the Thai businessman, got the remaining 2% and has kept it for around four decades as Red Bull became a roaring success and turned him, his father and at least nine other family members into billionaires.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

NIU Invest Completes Acquisition of Majority Stake in Critical Metals
NIU Invest Completes Acquisition of Majority Stake in Critical Metals

Business Wire

timean hour ago

  • Business Wire

NIU Invest Completes Acquisition of Majority Stake in Critical Metals

LONDON--(BUSINESS WIRE)--NIU Invest SE (NIU), headed by Austrian investor Cevdet Caner, completed its subscription for new Ordinary Shares of in Critical Metals PLC (Critical Metals) giving NIU an aggregate of 61,402,390 new Ordinary Shares, representing a majority 60.34% stake in the company. Critical Metals has a 70% stake in the Molulu Project, a cobalt and copper mining asset near Lubumbashi, in the Democratic Republic of Congo (DRC). The Molulu Project was previously mined by artisanal miners, and Critical Metals acquired the project in September 2022. Critical Metals plans to further develop and expand the Molulu Project's mining operations to realize the asset's full value. Caner stated, 'We are thrilled to complete this acquisition in the Democratic Republic of Congo and begin work on growing the operation and accelerating local development.' NIU is a leading Europe and US-based investment company focused on entrepreneurship and value creation, with the goal of becoming a fully integrated mining investor and operator with assets across North America, Latin America, Africa, and Europe. Austrian entrepreneur Cevdet Caner has invested in the mining and property sectors for over two decades. NIU plans to make further mining acquisitions in 2025, building a diverse portfolio of critical assets that drive long-term growth and align with the global demand for key inputs to advanced industries and cutting-edge technologies.

Thai Mutual Fund Assets Hit Record $192 Billion on Stock Rally
Thai Mutual Fund Assets Hit Record $192 Billion on Stock Rally

Bloomberg

time2 hours ago

  • Bloomberg

Thai Mutual Fund Assets Hit Record $192 Billion on Stock Rally

Thai mutual fund companies saw their assets climb to a record 6.2 trillion baht ($192 billion) in July, as a rally in global stocks boosted their equity holdings and local markets rebounded after a big underperformance. Total assets under management jumped 3.3% last month from June, according to data from the Association of Investment Management Companies in Thailand. The value of assets rose 5% from the end of 2024. Thai equities have also been supported after the central bank cut its policy interest rate to bolster the economy.

Big Thai Banks Start Cutting Borrowing Costs After BOT Rate Move
Big Thai Banks Start Cutting Borrowing Costs After BOT Rate Move

Bloomberg

time3 hours ago

  • Bloomberg

Big Thai Banks Start Cutting Borrowing Costs After BOT Rate Move

Thailand's top banks have started cutting lending rates, following the central bank's move on Wednesday to slash the benchmark policy rate to its lowest in more than two years to support an economy hit by US tariffs. Bangkok Bank Pcl, the nation's largest lender by assets, led the move with a 25-basis-point cut to loan rates, matching the central bank's reduction. State-controlled Krung Thai Bank Pcl and Government Savings Bank also announced similar reductions in borrowing costs on Thursday.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store