Việt Nam has three more US dollar billionaires: Forbes

Việt Nam has three more US dollar billionaires: Forbes

The new entrants are Phạm Thu Hương and Phạm Thúy Hằng, both vice chairwomen of conglomerate Vingroup, and Ngô Chí Dũng, chairman of Vietnam Prosperity Joint Stock Commercial Bank (VPBank).

Phạm Thu Hương, deputy chairwoman of Vingroup, has a net worth of $2.2 billion. — Photo VIC

Việt Nam has added three new US dollar billionaires, bringing the country’s total to eight, according to the latest real-time billionaire ranking released by Forbes.

The new entrants are Phạm Thu Hương and Phạm Thúy Hằng, both vice chairwomen of conglomerate Vingroup, and Ngô Chí Dũng, chairman of Vietnam Prosperity Joint Stock Commercial Bank (VPBank).

Hương has an estimated net worth of US$2.2 billion, according to Forbes’ update on Monday. Born in 1969, she is the wife of Vingroup chairman Phạm Nhật Vượng and currently holds more than 341 million Vingroup shares (VIC), equivalent to about 4.4 per cent of the group’s charter capital. She holds a master’s degree in international law from Ukraine.

Another Vingroup executive, Hằng, also appeared on the list for the first time. She is Hương’s younger sister. Born in 1974, Hằng owns around 228.3 million VIC shares, representing nearly 3 per cent of Vingroup, with her net worth estimated at $1.5 billion. She graduated in Russian language studies from Hà Nội University.

The third new billionaire, Dũng, is chairman of VPBank, with an estimated fortune of $1.1 billion. Born in 1968, Dũng holds more than 328 million VPB shares, equivalent to 4.14 per cent of the bank’s equity. He earned a doctorate in economics from the Russian Academy of Sciences after graduating from the Russian State Geological Prospecting University.

With the latest update, Việt Nam now has eight US dollar billionaires. 

Vượng remains the country’s richest individual, with a net worth of $21.1 billion, although this figure has declined by more than $7 billion compared with the end of last year, Forbes data showed.

The wealth of several other Vietnamese billionaires, including Nguyễn Thị Phương Thảo of Vietjet, Trần Đình Long of Hòa Phát Group and Hồ Hùng Anh of Techcombank, also declined amid weaker share prices. 

Since the beginning of the year, VIC and Vietjet (VJC) have fallen by more than 20 per cent, while Hòa Phát (HPG) and Techcombank (TCB) have dropped by a few percentage points.

In contrast, Nguyễn Đăng Quang, chairman of Masan Group, saw his net worth increase by around $100 million, supported by a roughly 7 per cent rise in Masan (MSN) shares year to date.

Forbes’ real-time rankings are primarily based on publicly listed shareholdings and market prices at a given point in time. The rankings also take into account assets such as stakes in private companies, real estate, artworks, yachts and other investments. 

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