The 22nd Forbes Global CEO Conference took place in Bangkok, Thailand, on November 20 and 21, gathering some 400 leading CEOs, entrepreneurs, investors and thought leaders from around the world to discuss key issues of global concern and to build new partnerships.
Notable speakers at the event included: Steve Forbes, Chairman and Editor-in-Chief, Forbes Media; Paetongtarn Shinawatra, Prime Minister of Thailand; Bernard Arnault, Chairman and CEO, LVMH Group; Thaksin Shinawatra, Former Prime Minister of Thailand; Jenny Johnson, President and CEO, Franklin Templeton; Suphachai Chearavanont, Senior Vice Chairman and CEO, Charoen Pokphand Group, Chair of the Board, True Corporation; Chip Kaye, Chairman, Warburg Pincus; Enrique K. Razon Jr., Chairman and President, International Container Terminal Services, Inc.; Panote Sirivadhanabhakdi, Group CEO, Frasers Property; Jenny Lee, Senior Managing Partner, Granite Asia; Chartsiri Sophonpanich, President, Bangkok Bank; and Jane Sun, CEO, Trip.com Group.
For the full list of speakers, please visit the conference website. Key insights and highlights from the conference can be found below.
Malcolm S. Forbes Lifetime Achievement Award
Bernard Arnault (center), Chairman and CEO of LVMH Group, was awarded the Malcolm S. Forbes Lifetime Achievement Award by Steve Forbes (right) and Christopher Forbes.
Forbes Asia
LVMH Billionaire Bernard Arnault Receives Malcolm S. Forbes Lifetime Achievement Award
Bernard Arnault, chairman and CEO of LVMH Group, received the Malcolm S. Forbes Lifetime Achievement Award at the Forbes Global CEO Conference 2024 on November 20.
The award, which recognizes a lifetime of achievement and is a celebration of global business success, is bestowed upon an individual who embodies and exemplifies the ideals of entrepreneurship championed by the late Malcolm S. Forbes, the legendary publisher of Forbes.
A civil engineer by training, Arnault went on to parlay a small fortune from his family’s construction business in northern France into a multibillion dollar global fashion empire.
Arnault built LVMH into the world’s largest luxury conglomerate by market cap ($312 billion) with a portfolio of over 75 luxury brands including flagship Louis Vuitton and Moet Hennessy. The French tycoon got his start with the acquisition of Christian Dior in 1984 and over four decades stitched together a series of deals under LVMH, the largest of which was the $15.8 billion acquisition of American jeweler Tiffany & Co. in 2021.
In Conversation: Paetongtarn Shinawatra, Prime Minister of Thailand, talks to Moira Forbes, Executive Vice President, Forbes Media, President and Publisher, ForbesWomen
Paetongtarn Shinawatra, Prime Minister of Thailand, in conversation with Moira Forbes, Executive Vice President of Forbes Media and President and Publisher of ForbesWomen.
Forbes Asia
Thai PM Says This Is The Right Time To Invest In Thailand
Thailand’s Prime Minister Paetongtarn Shinawatra wants to attract more technology infrastructure investments to bolster the country’s economic growth.
“Right now, we still have many good deals that are ongoing,” Paetongtarn, 38, said in conversation with Moira Forbes, executive vice president of Forbes Media. “Some I can’t really talk about but some that are already present in Thailand want to invest more, such as Google and Microsoft. They are interested in data centers.”
Paetongtarn, who assumed office in August, assured CEOs and entrepreneurs attending the conference that she will promote business-friendly policies to further attract foreign investors. “Thailand is ready with a stable government. This is the right moment,” she declared.
Fact & Comment by Steve Forbes, Chairman and Editor-in-Chief, Forbes Media
Steve Forbes, Chairman and Editor-in-Chief of Forbes Media.
Forbes Asia
Steve Forbes, a renowned forecaster – and a former U.S. presidential candidate himself – analyzed the impact of a second Trump presidency and the geopolitical and investment risks in the coming year.
In Conversation: Thaksin Shinawatra, Former Prime Minister of Thailand, talks to Steve Forbes, Chairman and Editor-in-Chief, Forbes Media
Thaksin Shinawatra, Former Prime Minister of Thailand, in conversation with Steve Forbes, Chairman and Editor-in-Chief of Forbes Media.
Forbes Asia
Former Prime Minister Thaksin Shinawatra would like the government to reduce Thailand’s personal income tax rate to help stimulate the economy that has lagged the growth of its ASEAN neighbors.
“We need to increase the purchasing power by lowering tax,” said Thaksin, 75, in a freewheeling and candid conversation with Steve Forbes, chairman and editor in chief.
The billionaire returned to Thailand in August 2023 from exile after fleeing the country 17 years ago following a military coup that ousted him as Prime Minister.
Panel: Economic Theories Put To The Test
(L-R): Muhamad Chatib Basri, Former Minister of Finance of Indonesia, Chairman, Bank Mandiri, Chairman, XL-Axiata; Randall S. Kroszner, Norman R. Bobins Professor of Economics, The University of Chicago Booth School of Business; and Nouriel Roubini, Professor Emeritus, NYU Stern School of Business, CEO, Roubini Macro Associates, spoke on a panel about economic theories that will be put to the test in 2025. Moderated by Rich Karlgaard (far right), Futurist and Editor-at-Large, Forbes Media.
Forbes Asia
“In the past if you’re investing, it’s based on economic efficiency. But nowadays people start to talk about the importance of economic security,” said Muhamad Chatib Basri, Former Minister of Finance of Indonesia, Chairman of Bank Mandiri and Chairman of XL-Axiata.
“We have seen greater fragmentation. There’s been a pivot away from ‘free trade will bring peace and prosperity’…I don’t think people believe that anymore,” said Randall S. Kroszner, Norman R. Bobins Professor of Economics at The University of Chicago Booth School of Business.
“On the positive side, lots of technologies can increase productivity…The things that can go wrong have to do with the backlash against liberal democracy and democratic capitalism,” said Nouriel Roubini, Professor Emeritus at NYU Stern School of Business and CEO of Roubini Macro Associates.
Panel: Mastering The Markets
(L-R): Clara Chan, CEO of Hong Kong Investment Corporation; Jenny Johnson, President and CEO of Franklin Templeton; and Chip Kaye, Chairman of Warburg Pincus, spoke about strategies to prosper in today’s volatile investment climate. Moderated by Randall Lane (far right), Chief Content Officer, Forbes Media, Editor, Forbes Magazine.
Forbes Asia
“When we talk about where to find good investment opportunities, we always focus on the talent, and all of those geopolitical tensions, they are driving some people back,” said Clara Chan, CEO of Hong Kong Investment Corporation.
“Our ability to predict what actually happens tends to be pretty low, but the ability to go find the true entrepreneurial success, the person that defies gravity, the great ideas that get built in moments of great uncertainty—that’s what keeps me going,” said Chip Kaye, Chairman of Warburg Pincus.
“We were astonished by how cost effective blockchain technology was and that’s going to be the key. It is going to unlock new business capabilities because of what the technology does,” said Jenny Johnson, President and CEO of Franklin Templeton.
Panel: Bright Ideas Face New Realities
(L-R): Jack Cowin, Founder and Executive Chairman of Competitive Foods Australia; Tony Fernandes, CEO of Capital A; William E. Heinecke, Founder and Chairman of Minor International; Enrique K. Razon Jr., Chairman and President of International Container Terminal Services, Inc.; and Allan Zeman, Chairman of Lan Kwai Fong Group, spoke on a panel about the new realities of building a business. Moderated by Moira Forbes (far right), Executive Vice President, Forbes Media, President and Publisher, ForbesWomen.
Forbes Asia
“Any success I have had in our business is because we have done this together. That mindset is how you bring people together,” said Jack Cowin, Founder and Executive Chairman of Competitive Foods Australia.
“Many companies underestimate the power of the people in their companies. My job is to turn raw diamonds into gems,” said Tony Fernandes, CEO of Capital A.
“What sets people apart is how quickly they react. Everybody has been through a crisis. You really gotta move quickly,” said William E. Heinecke, Founder and Chairman of Minor International.
“You need to embrace fear. You need to be fearless when everyone is fearful. When others are fearful, it’s a great opportunity,” said Enrique K. Razon Jr., Chairman and President of International Container Terminal Services, Inc.
“You have to keep adapting to change. The fashion business really taught me about the coming trends and what to watch out for,” said Allan Zeman, Chairman of Lan Kwai Fong Group.
The Forbes Global CEO Conference was supported by Charoen Pokphand Group Co., Ltd and Thai Beverage Public Company Ltd as Co-Host Sponsors; Bangkok Bank as Principal Sponsor, and Barito Pacific, Frasers Property, International Container Terminal Services, Inc and Amazon Web Services as Corporate Sponsors; Indorama Ventures Public Company Ltd, Marriott Bonvoy, Edelman and Hill & Associates as Supporting Sponsors.
