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Vietnam’s richest man Pham Nhat Vuong joins world’s 500 richest club
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.
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Vingroup chairman Pham Nhat Vuong. |
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.
Prime Minister Pham Minh Chinh attended a ceremony to launch Vinfast vehicles in the United Arab Emirates (UAE) on October 27 as part of his official visit to the Middle East country.
Vietnamese electric vehicle (EV) maker VinFast Auto on July 15 began work on its new EV assembly plant in Subang city, West Java province of Indonesia.
VinFast's electric vehicle sales were the second highest in Southeast Asia in the first quarter of 2024, trailing only those of China's BYD.
Electric vehicle maker VinFast has become the only representative from Vietnam to be listed in the "TIME 100 most influential companies 2024”, alongside Google, Microsoft, and Amazon.
Leading IT services provider FPT Software and automotive manufacturer VinFast of Vietnam were honoured at the 14th Annual “Jewels of Asia” Awards Gala hosted by the Asian American Chamber of Commerce (AACC) in Virginia state of the US on May 2.
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