Thailand’s Prime Minister Paetongtarn Shinawatra declared over $400 million worth of assets on Friday, which included designer handbags and luxurious watches.
Her political party, Pheu Thai, confirmed the declaration to media outlets, as reported by AFP. Following regulations, she submitted her financial disclosure to the National Anti-Corruption Commission (NACC), revealing total assets of 13.8 billion baht ($400 million), as shown in documents circulated on media platforms.
Her portfolio comprised investments worth 11 billion baht, alongside one billion baht in deposits and cash. Her possessions included 75 watches valued at 162 million baht, an additional 39 timepieces, and 217 handbags worth 76 million baht, plus properties in London and Japan.
Shinawatra took office in September, becoming the fourth member of her family to lead Thailand in 20 years. Her father, former Prime Minister Thaksin Shinawatra, is a billionaire and the 10th richest person in Thailand, according to Forbes. He built his wealth through the Shin Corp telecommunications company and has remained influential despite being ousted in a coup and living in exile.
The connection between wealth and power in Thailand has been noted by analysts. Yuttaporn Issarachai of Sukhothai Thammathirat University told AFP, “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.”
Shinawatra’s predecessor, Srettha Thavisin, declared assets worth approximately 985 million baht when dismissed by the court in August, down from about 1.02 billion baht at the start of his term.
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