Vietnam will have 6 USD billionaires by the end of 2024, with total assets increasing slightly. Mr. Pham Nhat Vuong continues to be the richest billionaire on the stock market for 15 consecutive years.
As of December 28, according to Forbes, Vietnam 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. Mr. Pham Nhat Vuong recorded a slight decrease in assets but was still the richest person on the list. In the Vietnamese stock market, Mr. Vuong was the richest for the 15th consecutive year, holding the No. 1 position since 2010.
Chairman of Vingroup (VIC) and CEO of VinFast (VFS) Pham Nhat Vuong has assets worth 4.1 billion USD, ranked 833rd in the world; down from 4.6 billion USD at the beginning of the year.
VietJet (VJC) Chairwoman Nguyen Thi Phuong Thao ranked second among Vietnamese billionaires with assets reaching 2.8 billion USD, up from 2.4 billion USD at the beginning of the year.
Chairman of Hoa Phat Group (HPG) Tran Dinh Long ranked third with 2.4 billion USD, compared to 2.3 billion USD at the beginning of the year.
Techcombank (TCB) Chairman Ho Hung Anh ranked fourth with 1.8 billion USD, compared to 1.4 billion USD at the beginning of 2024.
Mr. Tran Ba Duong (Thaco) and his family ranked 5th with 1.2 billion USD, down from 1.5 billion USD at the beginning of the year.
Masan Group (MSN) Chairman Nguyen Dang Quang's assets remain unchanged at 1 billion USD.
In terms of the value of the stocks held by the tycoons on the stock exchange, the positions have not changed much. The richest is still Mr. Pham Nhat Vuong with more than 84 trillion VND (about 3.3 billion USD). Mr. Tran Dinh Long is in second place with more than 44.3 trillion VND. Ms. Nguyen Thi Phuong Thao is in third place with more than 23.7 trillion VND.
Mr. Do Anh Tuan (Chairman of Sunshine) ranked 4th in terms of value of shares held, with a total value of more than 23.5 trillion VND, above Mr. Ho Hung Anh (20.6 trillion VND) and Mr. Nguyen Dang Quang (19.5 trillion VND).
In 2024, investors recorded that FPT Group Chairman Truong Gia Binh was in the top 10 richest people, with assets of more than 13.3 trillion VND. In 2023, there was a time when Mr. Binh returned to this list after 14 years.
In 2006, Mr. Truong Gia Binh was the richest person on the Vietnamese stock market (at that time Mr. Binh had 2,350 billion VND). In 2007, this position belonged to Mr. Dang Thanh Tam (6,290 billion VND). In 2008 and 2009, it was Mr. Doan Nguyen Duc (6,160 billion and 11,440 billion VND). In the following years, the number 1 position belonged to Mr. Pham Nhat Vuong.
In 2024, Mr. Dang Thanh Tam ranked 34th with more than 4,000 billion VND. Mr. Doan Nguyen Duc (Bau Duc) ranked 42nd with more than 3,800 billion VND. Ms. Vu Thi Hien (Mr. Tran Dinh Long's wife) remained in 8th place like last year.
However, 2024 saw Novaland (NVL) Chairman Bui Thanh Nhon, Phat Dat Real Estate (PDR) Chairman Nguyen Van Dat and Ms. Pham Thu Huong (Mr. Pham Nhat Vuong's wife) leave the top 10 richest people. Instead, Mr. Truong Gia Binh, Ms. Nguyen Thi Thanh Thuy (Mr. Hung Anh's wife) with 9,044 billion VND, Ms. Nguyen Thi Thanh Tam (Mr. Hung Anh's mother) with 8,567 billion VND.
How will billionaires' assets fluctuate next year?
Like in 2023, many real estate businesses are still facing difficulties due to debt, despite periods when the real estate market is bustling. This is the reason why many tycoons' assets have declined; including Mr. Nhon and Mr. Dat when they fell out of the top 10.
The retail, automobile manufacturing and trading industries are also facing difficulties, so the assets of businessmen such as Tran Ba Duong, Nguyen Dang Quang, and Nguyen Duc Tai have decreased or not increased.
The construction materials industry is more active, steel prices have recovered, helping HPG rise and billionaire Tran Dinh Long's assets increase slightly. HPG is also speeding up the progress of Dung Quat 2 Factory in Quang Ngai, expected to be completed in early 2025.
For Vingroup, 2024 will witness a drastic restructuring by billionaire Pham Nhat Vuong with a series of major deals such as selling Vinhomes Vu Yen, selling VinBrain to Nvidia, selling Vincom Retail (VRE)...; positive signals from car company VinFast (VFS) and the participation of the second generation of Mr. Vuong's sons. However, there are still many challenges.
For the third consecutive year, Mr. Bui Thanh Nhon is no longer on Forbes' list of USD billionaires.
Banks are a group with quite good business results and year-end credit growth is close to the target set by the State Bank. The assets of Mr. Hung Anh and his family increased quite strongly in 2024. Many other bank stocks such as Vietinbank (CTG), Sacombank (STB) of Mr. Duong Cong Minh reached historical peaks...
The two children of Mr. Ho Hung Anh (Chairman of Techcombank), Ho Thuy Anh and Ho Anh Minh, are in the top 11-12 richest people on the stock market.
The recovery of tourism has contributed to boosting the aviation industry. Billionaire Nguyen Thi Phuong Thao's assets increased the most, adding 500 million USD. In 2025, tourism and aviation are likely to continue to flourish.
The strong FDI inflow into Vietnam not only helps the industrial real estate group (such as Mr. Dang Thanh Tam, Mr. Tran Dinh Long, Mr. Pham Nhat Vuong...), but also promotes tourism.
In 2024, Mr. Dao Huu Huyen (Duc Giang Chemicals) and Mr. Ho Xuan Nang (Vicostone) also recorded a breakthrough, with assets increasing by more than 1,000 billion VND each, to 8,330 billion VND and 8,060 billion VND, respectively.
According to the Government Resolution issued in May, by 2030, Vietnam strives to have at least 10 USD billionaires. Mr. Vuong, Mr. Long, Ms. Thao, and Mr. Hung Anh are considered billionaires standing firmly on the Forbes list.
Investors expect that this list will soon include Mr. Truong Gia Binh as FPT is focusing on artificial intelligence (AI). In addition, there are Mr. Do Anh Tuan - Chairman of Sunshine Group Corporation (KSF) and Sunshine Homes Development Corporation (SSH), Mr. Dao Huu Huyen - Duc Giang Chemicals or Mr. Nguyen Van Dat - Phat Dat Real Estate...
Vietnam also has many famous businessmen, considered super rich but secretive such as Ms. Nguyen Thi Nga BRG, Mr. Vu Van Tien Geleximco, "king of luxury goods" Johnathan Hanh Nguyen, Mr. Do Minh Phu Doji, Mr. Do Quang Hien T&T, the family of Mr. Dang Van Thanh - Thanh Thanh Cong...
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