Thaksin Shinawatra: The Billionaire Who Built Thailand’s Tech Empire

The story of Thaksin Shinawatra encompasses elements such as ambition, success, controversy, and exile; from his earlier career as the founder of Thailand’s largest telecom company, Advanced Info Services (AIS), to the Shin Corporation, he managed to bring about revolution to the country’s telecommunications industry and eventually transformed himself into a political force. As Prime Minister of Thailand, 2001 to 2006, Thaksin was remembered for immense economic growth, but also presided over allegations of corruption that drove him into exile. With a fortune topping $1.8 billion, Thaksin is a figure in Thailand matched by very few in authority and influence – and very few in condemnation and detestation.

Thaksin Shinawatra was born on July 26, 1949, in Thailand. This is an icon with a significant and rampant influence over the business world as well as over the politics of the country. He is most famous for founding two of the most successful companies in Thailand: Advanced Info Services (AIS) and Shin Corporation. He transformed the country’s telecommunications and IT sectors and emerged as a prominent leader of Southeast Asia’s vibrant economy.

After 14 years of service in the police force of Thailand, his enterprising spirit caught up with him, and he started business adventures; these ventures eventually set him up to create Advanced Info Service in 1986. It was not long before the company was established as the largest mobile telecommunications operator in Thailand and a major regional player. Indeed, under tight leadership by Thaksin, AIS grew exponentially against the backdrop of his keen business acumen and the sensitive ability to navigate Thailand’s regulatory environment. He established Shin Corporation, a holding company whose business interests cover electronics and telecommunication/IT companies besides media businesses. Business success brought him closer to attaining powerful status in the business community of Thailand. By the early years 2000, Thaksin was one of the wealthiest persons in Thailand. His net value stood at about $1.8 billion.

By 2001 political power translated business success as Thaksin became Thailand’s Prime Minister. As Prime Minister, he spearheaded economic reforms within the backdrop of modernizing the country’s infrastructure and developing its digital economy. His period saw some sterling economic performance, especially in the sphere of telecommunications in which both AIS and Shin Corporation were greatly involved. It is here that business success had borne fruit that now furthered the politician, Thaksin, who was once again elected for a second term in 2005.

In 2006 he faced much higher levels of protests by people against his government who branded him corrupt and a crony. He was also caught up in a land deal where he was to benefit himself from it, and it happened that led to charges of corruption. In September of the same year, while he was abroad, a military coup had been staged to get rid of him from office. Despite all these efforts, Thaksin was actually convicted of corruption charges in 2008 to serve for two years in prison. He was forced to run away into exile, and that is where he remains to this day.

Despite all the controversies, Thaksin’s business empire continued to thrive even after his departure from politics. The wealth and influence of Thaksin continue to create a focal point of discussion in Thailand, and his companies, especially AIS, dominate the telecommunications sector. The general contribution of the impact of Thaksin in Thailand’s tech industry is undeniable; he paved the way for the country’s modern digital infrastructure.

The life of Thaksin is a mixture of business success and political power. The life story of this famous leader, who rose from a policeman to the leader of Thailand while also growing into a billionaire businessman, means drive and ambition. Contrary to this, his political career is complex and contested, as are the instances of following legal procedures. Exiled or not, Thaksin’s influence in the economy of Thailand remains untouched, and he is also shaping an environment in the business and political spheres from abroad.

While Thaksin Shinawatra’s politics is over in ashes, his impact on Thai business landscape will be for a very long time. He is an iconic figure and yet a very divisive character in the history of the country.