The chairman of conglomerate Vingroup has benefited from the company stock’s gain, hitting its ceiling price Friday for the second day in a row.
After U.S. President Donald Trump announced his reciprocal tariff policy to all trading partners earlier this month, most shares have plunged double-digit.
But Vingroup share has risen 8% to a 19-month peak.
Forbes’ latest data shows that Vuong is now the 361st richest person in the world, and his net worth has risen $3.6 billion since the beginning of the year.
Vuong owns 691 million shares of Vingroup and also has indirect ownership in the company through several vehicles. He also has a large number of shares in automaker VinFast.
In August 2023 Vuong was briefly listed among the 30 richest people in the world with a $44 billion net worth.
A change in Forbes’ calculations, however, brought his wealth down to $6.7 billion by the end of the month.
The Vingroup chairman was the only billionaire with a wealth gain since the beginning of this month due to the impact of the Trump import tariffs.
The U.S. President, however, has since delayed the tariffs on most countries, including Vietnam, which was earlier slapped with a 46% tariff.
There are now four Vietnamese billionaires in Forbes’ global rich list.
So far this month the second richest person in the country, Nguyen Thi Phuong Thao, chairwoman of budget airline Vietjet, has seen her wealth dropping by around $200 million.
In the third place, chairwoman of steel giant Hoa Phat Group, Tran Dinh Long, has lost $300 million in the period.
The net worth of Ho Hung Anh, chairman of private lender Techcombank, has plunged by $200 million.
Nguyen Dang Quang, chairman of retailer Masan Group, is no longer on Forbes’ list as his company share has fallen by 19% since the beginning of the year.
