Brian Jeffrey
Pham Nhat Vuong, a Vietnamese billionaire, has crossed a significant threshold, with his wealth surpassing $10 billion for the first time, propelled by a notable rise in Vingroup shares.
On May 20, shares of Vingroup (VIC) reached their maximum trading limit with a 7% increase, closing at VND 91,500 each.
This spike lifted Vuong’s total net worth to an unprecedented $10.2 billion, as reported by Forbes, designating him as the wealthiest individual in Vietnam and placing him 277th on the worldwide billionaire roster.
Vingroup’s market value has now soared to VND 350 trillion (around $13.4 billion), establishing it as one of the foremost publicly traded companies in Vietnam.
In just three months, Vingroup’s stock price has surged from about VND 40,000 to VND 91,500, equating to an impressive increase of nearly 130%.
This exceptional growth has also significantly enhanced the fortune of Vuong’s spouse, Pham Thu Huong, who serves as the Vice Chairwoman of Vingroup.
As of May 20, her stock holdings are valued at over VND 14.6 trillion (approximately $560 million), placing her as the seventh richest individual on Vietnam’s stock market.
Her wealth surpasses that of other notable business leaders, including Truong Gia Binh from FPT Corporation (VND 12.1 trillion), Vu Thu Hien, wife of Hoa Phat Group’s chairman Tran Dinh Long (VND 11.3 trillion), and Nguyen Thi Thanh Thuy, spouse of Techcombank chairman Ho Hung Anh (close to VND 10.7 trillion).
Despite being married to the richest man in Vietnam, Pham Thu Huong has only recently begun making public appearances, notably at events like the VinFuture Prize ceremonies.
She currently holds the title of the second richest woman on the Vietnamese stock exchange, following VietJet Chairwoman Nguyen Thi Phuong Thao, whose wealth is estimated at $2.6 billion.
Pham Thu Huong’s sister, Pham Thuy Hang, has also experienced significant growth in her wealth due to the rise in Vingroup shares, with her fortune now estimated at over VND 9.77 trillion.
On the same day, Vietnam’s VN-Index experienced an uptick of 18.86 points, or 1.45%, reaching 1,315.15 points, with robust trading activity, as over VND 22.6 trillion (about $870 million) changed hands on the Ho Chi Minh City Stock Exchange.
