Phạm Nhật Vượng enters Forbes 500 list of richest billionaires

Phạm Nhật Vượng enters Forbes 500 list of richest billionaires

Vingroup’s chairman Phạm Nhật Vượng entered the the World's Top 500 Richest with estimated wealth at US$6.7 billion.

Vingroup’s founder and chairman Phạm Nhật Vượng. — Photo nguoiquansat.vn

Việt Nam now has only five billionaires, after Trần Bá Dương, founder of Vietnamese automobile producer THACO, dropped off Forbes' list – but Vingroup’s founder and chairman Phạm Nhật Vượng has now entered the magazine's ranking of the Top 500 Richest people across the globe.

Vượng’s net worth has surged dramatically in just a few days. As of March 11, 2025, Forbes estimates Vượng’s wealth at nearly US$6.7 billion. His fortune has grown by $1.1 billion since March 7 and by $2.6 billion since the start of the year.

This rapid increase has propelled him from 611th to 496th in the global billionaire rankings.

The rise in Vượng’s wealth comes as Vingroup’s VIC stock has gained nearly 13 per cent over the past week and almost 20 per cent in the last month. The billionaire currently chairs Vingroup and holds 691.27 million VIC shares, equivalent to about 18 per cent of the company’s charter capital. He also owns additional shares through private entities.

Beyond Vingroup, Vượng controls a significant stake in VinFast and serves as its CEO. However, Forbes considers multiple factors beyond stock value when calculating net worth.

On the other hand, Việt Nam’s billionaire list has shrunk with the exit of Trần Bá Dương, chairman of THACO. Dương first joined the billionaires' club in 2018 with a net worth of $1.8 billion. Despite holding on for six years, his fortune has declined steadily. Before dropping off the list, his wealth had fallen to $1.2 billion.

THACO, founded by Dương in 1997 in Đồng Nai, has evolved from a used car importer into a diversified industrial conglomerate spanning automotive, real estate and agriculture.

Among Việt Nam’s remaining billionaires, Techcombank Chairman Hồ Hùng Anh has seen his wealth rise by $300 million this year to $2 billion. In contrast, Hòa Phát Chairman Trần Đình Long’s fortune has declined to $2.4 billion.

Billionaire Nguyễn Thị Phương Thảo’s wealth remains unchanged at $2.8 billion. She is currently the Chairwoman of Sovico Group and Vietjet Air.

Similarly, Masan Chairman Nguyễn Đăng Quang maintains his $1 billion fortune, according to Forbes.

Forbes calculates individual wealth based on the number and value of shares held at a given time. Additionally, it considers other assets when ranking billionaires, including private company holdings, real estate, artwork and yachts. 

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