1 Vietnamese USD billionaire leaves the list, Mr. Pham Nhat Vuong holds the top position for 15 consecutive years
VietNamNet•24/01/2025
Vietnam currently has only 5 USD billionaires according to Forbes calculations at the beginning of 2025 instead of 6 people at the end of 2024. Mr. Pham Nhat Vuong recorded a slight decrease in assets in the context of a sluggish stock market.
As of January 22, according to Forbes, Vietnam has 5 USD billionaires with total assets of 12.2 billion USD. Mr. Nguyen Dang Quang is no longer on this list. This is not the first time Mr. Quang has left the Forbes list. Previously, at the end of 2024, Vietnam still had 6 USD billionaires with total assets of 13.4 billion USD, a slight increase compared to 13.2 billion USD at the beginning of the year. According to Forbes, as of January 22, Chairman of Vingroup (VIC) and CEO of VinFast (VFS) Pham Nhat Vuong had assets worth 4.1 billion USD, unchanged from the end of last year, but his ranking dropped from 833 to 839 among the world's billionaires. At the beginning of 2024, Mr. Vuong's assets were at 4.6 billion USD.
Many Vietnamese billionaires recorded fluctuations in assets in early 2025. Photo: DK
Most Vietnamese billionaires have seen their assets decrease in just the past 3 weeks. The assets of VietJet (VJC) Chairwoman Nguyen Thi Phuong Thao decreased from 2.9 billion USD to 2.8 billion USD. The assets of Hoa Phat Group (HPG) Chairman Tran Dinh Long decreased from 2.4 billion USD to 2.3 billion USD. Techcombank (TCB) Chairman Ho Hung Anh also saw his assets decrease from 1.8 billion USD to 1.7 billion USD. Meanwhile, Mr. Tran Ba Duong (Thaco) and his family saw their assets increase by 100 million USD to 1.3 billion USD. Masan Group (MSN) Chairman Nguyen Dang Quang saw his assets drop below the 1 billion USD threshold and is no longer on the list of USD billionaires recognized by Forbes. Thus, Mr. Pham Nhat Vuong is still the richest Vietnamese person on Forbes' list as well as according to assets converted from stocks listed on the Vietnamese stock market. Mr. Vuong has held the number 1 position for the 15th consecutive year, from 2010 to present. The reason why the assets of many Vietnamese billionaires have been depleted is because the stock market has been declining in recent weeks with very low liquidity. This is a common occurrence before the Lunar New Year. At the end of the trading session on January 22, the VN-Index fell another 3.56 points to 1,242.53 points, with liquidity reaching more than VND12 trillion on the Ho Chi Minh City Stock Exchange (HoSE). A series of pillar stocks have been under selling pressure for many sessions and are the factor that caused the VN-Index to fall to nearly 1,240 points. The stock market recorded a gloomy sentiment before the Tet holiday. Previously, in the Outlook 2025 report, SHS Securities said that the Vietnamese stock market could decrease by 15-20% before increasing steadily again in the medium and long term. It is forecasted that in 2025, the VN-Index will increase by 11-12% to 1,400-1,420 points. With this trend, the assets of Vietnamese billionaires and tycoons will increase. According to SHS, the industries with positive prospects are banking, real estate, industrial real estate, logistics, financial services, and telecommunications technology. Many real estate businesses are still facing difficulties due to debt, even though there have been periods when the real estate market has been vibrant. This is the reason why the assets of many tycoons have declined, such as Mr. Bui Thanh Nhon (Novaland), Mr. Nguyen Phat Dat (PRD)... The banking industry has a more positive outlook in 2025 after a year of breakthrough. VinaCapital predicts that bank stocks will continue to increase thanks to stronger profit growth. Many Vietnamese businessmen participating in the banking sector, such as Mr. Ho Hung Anh, Mr. Nguyen Dang Quang, Mr. Duong Cong Minh, Mr. Do Minh Phu Doji, Mr. Do Quang Hien T&T, Ms. Nguyen Thi Nga BRG... will benefit.
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