Vingroup chairman Pham Nhat Vuong. Photo by Vietnam Government Portal
Pham Nhat Vuong, the richest man in Vietnam, is now among the world’s 500 richest individuals with a net worth of $6.6 billion.
The chairman of Vietnam’s biggest private company Vingroup has seen his wealth surging $2.2 billion in the last two months, securing him the 495th spot in Forbes’ global billionaire list updated Tuesday.
Vuong, who owns 691 million Vingroup shares, has benefited from their 17% gain since January, bolstered by the company’s strong performance.
He first joined Forbes’ billionaire list in 2013 with a $1.5 billion net worth, ranking 974th.
His wealth peaked above $44 billion in August 2023 when VinFast listed on Nasdaq, briefly placing him among the world’s top 30 richest.
Forbes later revised its formula, dropping his net worth to $6.7 billion by the end of that month.
Vietnam now has five billionaires, with Nguyen Thi Phuong Thao – chairwoman of budget airline Vietjet Air – securing the second place with a wealth of $2.8 billion, unchanged from the end of last year.
In the third place is Tran Dinh Long, chairman of steel giant Hoa Phat Group. His net worth has fallen by $200 million to $2.4 billion in the period.
Ho Hung Anh, chairman of private lender Techcombank, enjoyed a $300 million gain in fortune to $2 billion.
In the fifth place is Nguyen Dang Quang, chairman of food producer and retailer Masan Group, with a steady net worth of $1 billion.
Tran Ba Duong, chairman of carmaker Truong Hai Auto Corporation, exited the billionaire list Monday. He debuted in 2018 and featured for six years.
Forbes bases its rankings on shareholdings and stock values at a given time, while also factoring in assets like private companies, real estate, art, and yachts.
