CNBC Insight Thai Billionaire Goes Bankrupt, Becomes Roadside Baker Entrepreneur – 9 hours ago

Jakarta, CNBC Indonesia – This is the story of Sirivat Voravetvuthikun, which is a symbol of the entrepreneurial spirit of Thailand. He was originally a billionaire. However, he then went bankrupt and was in debt so he had to change his profession to become a roadside baker.

What's the story?

Initially Sirivat was a stock broker on various stock exchanges in Asian countries. He took up this profession after graduating from college in the United States in the 1970s. During his dozen years as a stockbroker, he succeeded in making a lot of money and was named one of Thailand's billionaires.

Unfortunately, when the 1997 monetary crisis occurred in Thailand, Sirivat's finances also collapsed. In the report VoAthe investment he had had for dozens of years disappeared, so that his wealth simply evaporated.

Even worse, at the same time, Sirivat's debts piled up to US$ 30.4 million and was sued here and there by creditors for being unable to pay the debts. Due to this situation he was later declared bankrupt. All property and other valuables were lost.

“So my life changed completely from a luxurious lifestyle to an ordinary lifestyle.” Sirivat said.

Not wanting to be down for too long, this man born in 1952 returned to looking for money. He abandoned his sense of pride in order to restore his wealth.

Sirivat started out as a hawker baker selling on the streets of Bangkok. It doesn't matter what people say, the important thing is, for him he must be able to support his family. During this time, he and his wife often felt sad because they had to live a difficult life.

“But I realized that if we give up and continue to grieve, no one will help us. Whatever happens, we both have to help each other. No matter how disappointed we are, we have to fight,” he said.

At first, he earned US$ 14 per day. Small, indeed. However, little by little, over time it became a hill. Over time, from tens of dollars, it turned into tens to hundreds. All this is done consistently selling bread on the side of the road, day and night.

When the money started to accumulate, Sirivat just started a bigger business. Quote New Mandala, from the money from selling bread on the side of the road, he developed the business into two small coffee shops. Of course, this was obtained without borrowing any money.

Later, these two coffee shops became the turning point in Sirivat's life. Slowly, he then developed catering until he could employ dozens of people. From here he then gave his own brand to the bread he sold called Sirivat Sandwich.

Until finally, after dozens of years of emerging from bankruptcy, in 2009, Sirivat became a successful and wealthy entrepreneur again. Sirivat Sandwich began to appear all over Bangkok and became an icon of the city.

Sirivat immediately became famous and was nicknamed “The Sandwich Man” by the public. On this basis, the public made him an entrepreneurial icon because he managed to rise from bankruptcy to become a billionaire again.

[Gambas:Video CNBC]

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