Cover Mr Pham Nhat Vuong’s highest-ever net worth marks him as the first time a Vietnamese national has achieved this level of wealth
Mr Pham Nhat Vuong’s highest-ever net worth marks him as the first time a Vietnamese national has achieved this level of wealth
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Mr Pham Nhat Vuong’s assets have now climbed to US$9.2 billion, a personal record and the first time any Vietnamese individual has crossed this threshold.
As of 9 May 2025, Mr Pham Nhat Vuong, Chairman of Vingroup, Vietnam’s largest private corporation, saw his net worth rise to US$9.2 billion, placing him 322nd on Forbes’ global rich list.
This places him ahead of Jay Y. Lee, Chairman of Samsung Group, whose $8.6 billion valuation ranks him at 354th. The increase in Mr Vuong’s wealth reflects the robust momentum across Vingroup’s extensive business ecosystem, most notably in real estate.
In the first quarter of 2025, Vingroup reported a record consolidated revenue of VND84,053 billion ($3.3 billion), marking a 287% increase compared to the same period last year. This was largely driven by vigorous expansion in industrial production and real estate. Post-tax profit reached VND2,243 billion ($88 million), up 68% year-on-year. As of the end of March 2025, Vingroup’s total assets stood at VND823,270 billion ($32.4 billion).
Above The soaring value of Vingroup (VIC) shares has been pivotal in bolstering Mr Vuong’s wealth
The soaring value of Vingroup (VIC) shares has been pivotal in bolstering Mr Vuong’s wealth
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The soaring value of Vingroup (VIC) shares has been pivotal in bolstering Mr Pham Nhat Vuong’s wealth. On 8 May, VIC shares reached a 15-month high of VND78,500, up 85% from two months prior, making it the top-performing stock in the VN30 index. By the morning of 9 May, shares had risen a further 15.59% from the reference price of VND68,000. Foreign investors responded with notable enthusiasm, acquiring 376,900 shares—double the volume sold. Since the beginning of the year, VIC’s market capitalisation has grown by VND145,000 billion, exceeding VND300,000 billion and trailing only Vietcombank among Vietnamese listed firms.
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Mr Vuong’s wealth is not solely derived from VIC. He also holds a significant interest in VinFast—Vietnam’s electric vehicle champion listed on Nasdaq, which boasts a market capitalisation of around $8.7 billion, placing it among the top 10 most valuable EV companies globally. Additionally, Vingroup owns 85.5% of Vinpearl, the resort group recently valued at VND130,000 billion ($5 billion) during trading on the HoSE on 13 May. The wider Vingroup ecosystem touches multiple sectors, including real estate (Vinhomes), retail (Vincom Retail), and infrastructure (VEFAC).
Above Mr Vuong’s journey began in Russia, and he made his early fortune selling instant noodles in Ukraine during the 1990s before returning to Vietnam to establish Vingroup
Mr Vuong’s journey began in Russia, and he made his early fortune selling instant noodles in Ukraine during the 1990s before returning to Vietnam to establish Vingroup
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Pham Nhat Vuong’s journey began in Russia, and he made his early fortune selling instant noodles in Ukraine during the 1990s before returning to Vietnam to establish Vingroup. After a string of successes in property, he pivoted toward industrial production. His bold commitment to electric mobility saw VinFast list on Nasdaq via SPAC in 2023, a move that at one point pushed his net worth beyond $44 billion, placing him among the top 30 richest individuals globally. Later, Forbes revised its valuation methodology, estimating his assets at $6.7 billion by August 2023. The current figure of $9.2 billion, while a record for a Vietnamese citizen, remains inherently fluid given the complexities in calculating billionaire wealth.
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Above Among Vietnam’s ultra-wealthy, Mr Vuong is firmly in the lead
Among Vietnam’s ultra-wealthy, Mr Vuong is firmly in the lead
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Among Vietnam’s ultra-wealthy, Pham Nhat Vuong is firmly in the lead. His fortune far exceeds that of Ms Nguyen Phuong Thao (Sovico Group, $2.5 billion), Mr Tran Dinh Long (Hoa Phat, $2.2 billion), and Mr Ho Hung Anh (Techcombank, $1.8 billion). Several once-familiar names, including Mr Nguyen Dang Quang (Masan) and Mr Tran Ba Duong (Thaco) have fallen off the Forbes billionaire list, largely due to market fluctuations and declining stock prices.
Vingroup remains ambitious in 2025, projecting a 56% growth in revenue and a 90% jump in profit, bold targets that suggest confidence in continued expansion. Even so, key challenges remain, particularly around capital mobilisation and profit strategies, which investors will be watching closely.
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