Mr. Pham Nhat Vuong has 7 billion USD thanks to VinFast

The Vietnamese stock market recorded quite a lot of fluctuations in the year of the Cat 2023, with prices increasing for most of the first part of the year but then adjusting quite strongly before increasing again recently.

However, the position in the top 10 richest people on the stock exchange has not changed much.

Mr. Pham Nhat Vuong, Chairman of the Board of Directors of Vingroup Corporation, still holds the number 1 position in the list of richest people, with assets calculated by listed shares on the stock market as of the end of the session on February 7 (28th of Tet) reaching more than 88 trillion VND (equivalent to nearly 3.7 billion USD).

According to the Bloomberg Billionaire Index's 500 billionaires ranking as of February 8, Vingroup Chairman and VinFast electric car company Pham Nhat Vuong has assets of 7.15 billion USD. Bloomberg has put Mr. Vuong back on the 500 billionaires ranking after taking into account the assets of Vietnam's richest billionaire formed from VinFast car company.

Previously, for many months, Bloomberg had not calculated Mr. Vuong's assets from the electric car company VinFast (VFS) because VFS shares fluctuated strongly. On August 15, VinFast listed more than 2.3 billion shares on the Nasdaq stock exchange. This stock fluctuated strongly, from the opening price of about 23 USD/share to over 90 USD/share and then dropped sharply, at times to 5 USD/share. Recently, VinFast shares have stabilized around 5-6 USD/share.

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Fluctuations in billionaire Pham Nhat Vuong's assets according to Bloomberg calculations.

Mr. Vuong currently owns 45% of VinFast shares. Bloomberg also excluded the shares he controls in VinFast through Vingroup to avoid double counting.

Meanwhile, according to Forbes, Mr. Pham Nhat Vuong's assets as of February 8, 2024 are at 4.5 billion USD. This organization may not yet count assets created from the electric car company VinFast.

Previously, near the end of August 2023, Forbes calculated that Mr. Vuong had assets of up to 66 billion USD. Billionaire Vuong was then the 16th richest person on the planet and the 2nd richest person in Asia while VinFast had a capitalization of over 200 billion USD. However, this organization decided to recalculate by ignoring the stock price on the stock exchange in the context of strong fluctuations in VFS shares.

Billionaire Tran Dinh Long has an additional 500 million USD, Ms. Phuong Thao VietJet ranks 2nd

In the Year of the Cat, investors noted a strong recovery in Hoa Phat (HPG) shares. According to Forbes, HPG Chairman Tran Dinh Long’s assets also increased by about 500 million USD, reaching 2.3 billion USD as of February 7.

HPG recorded a sharp increase in revenue and profit in the fourth quarter of 2023. And for the first time in history, Hoa Phat Group's capitalization surpassed that of billionaire Pham Nhat Vuong's Vingroup.

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Vietnamese billionaires top the list of richest people on the stock exchange.

According to Forbes, as of February 7, Chairwoman of VietJet Air (VJC) Nguyen Thi Phuong Thao had assets of 2.4 billion USD, ranking 2nd in Vietnam. Mr. Tran Dinh Long was in 3rd place. Ranked 4th was Thaco Chairman Tran Ba ​​Duong and his family (1.5 billion USD) and then Mr. Ho Hung Anh (1.4 billion USD).

Mr. Nguyen Dang Quang, Chairman of Masan Group, is in the next position with assets of nearly 1 billion USD.

Masan Group - Masan Group (MSN), chaired by Mr. Nguyen Dang Quang, had quite positive business results in 2023, with net revenue increasing slightly by 2.7% compared to the previous year to nearly 78.3 trillion VND. Profit after tax was at 1,900 billion VND. Mr. Quang is a Vietnamese tycoon who continues billionaire Pham Nhat Vuong's dream of building a retail empire with the VinMart system and now Winmart.

If calculated by the value of listed shares on the stock exchange, other businessmen in the top 10 richest people include: Sunshine Chairman Do Anh Tuan (VND 23.7 trillion); Tran Dinh Long's wife - Ms. Vu Thu Hien (VND 11.3 trillion); Novaland Chairman Bui Thanh Nhon (VND 11 trillion); Phat Dat Real Estate Chairman (VND 8.8 trillion) and FPT Chairman Truong Gia Binh (VND 8.1 trillion).

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Asset fluctuations of Vietnamese USD billionaires according to Forbes.

Mr. Truong Gia Binh returns to the top 10

A notable point in the fluctuation of the top 10 richest people on the stock market is the return of FPT Chairman Truong Gia Binh. Mr. Binh's assets increased by more than 680 billion VND in the year of the Cat.

Mr. Binh's assets increased sharply thanks to the group of "FPT family" stocks reaching historical peaks such as FPT, FRT, FOX, FPTS. In 2023, FPT recorded a revenue increase of nearly 20% to over 52.6 trillion VND and a similar increase in profit to nearly 7.8 trillion VND. FPT shares increased by about 25% in the year of the Cat to a historical peak of 104,900 VND/share on February 7.

FRT shares of FPT Digital Retail JSC - FPT Retail and FOX shares of FPT Telecommunication JSC - FPT Telecom (Upcom) are also trading at peak levels of VND123,900/share and VND61,500/share, respectively.

Vietnamese tycoon spends billions of dollars to continue billionaire Pham Nhat Vuong's dream . Vietnamese tycoon spends billions of dollars on the ambition to maximize the efficiency of core consumer business, thereby "contributing" a large resource for billionaire Pham Nhat Vuong to have the opportunity to break through in the international arena.