Shares of Vingroup (VIC) on the morning of 25/11 extended their seven-session winning streak, rising to VND 246,400. Related stocks like Vinpearl and Vincom Retail also performed positively, increasing by 4.6% and 0.3% respectively compared to their reference prices.

Pham Nhat Vuong's total assets increased by USD 1.4 billion, according to Forbes' update. He joined the ranks of the world's 100 wealthiest individuals for the first time, improving his position by one rank from yesterday's closing session. On this list, Vuong ranks above billionaire Giancarlo Devasini, co-founder of Tether, the company that issues the USDT stablecoin.

Pham Nhat Vuong at the groundbreaking ceremony for the Can Gio coastal urban area project, 19/4. Photo: Thanh Tung

The prestigious American magazine recognized Pham Nhat Vuong as Vietnam's first billionaire in 2013. At that time, he owned approximately USD 1.5 billion and ranked 974th on the list. Over a decade later, the Vingroup chairman's assets have increased 15-fold.

Vuong's wealth fluctuates significantly with the share prices of Vingroup and its member units. Since the beginning of the year, VIC has risen six-fold, from VND 40,000 to its current record high. Vingroup's market capitalization is currently approximately VND 950 trillion, leading the Vietnamese stock market and nearly double the market capitalization of the next largest stock, Vietcombank (VCB).

Vuong directly owns 389.9 million VIC shares, representing a 10.1% stake. However, he, along with his family members and private companies, still holds a controlling interest in Vingroup with a total ownership of approximately 65%. Additionally, he holds nearly half of VinFast's capital through two private companies.

Recently, Vingroup's ecosystem has been continuously expanding. In October, Vuong and his family established several companies in various fields, including VinMetal (steel), Vin New Horizon (elderly care), and V-Film (entertainment). Earlier this month, he also founded and contributed 71% to VinSpace, a company whose primary business activities include manufacturing aircraft, spacecraft, telecommunication satellites, and air cargo transportation.

According to the latest financial report, Vingroup's total assets exceeded VND 1.08 quadrillion at the end of Q3, a 30% increase since the beginning of the year. They are the first private enterprise in Vietnam to achieve this asset level.

Phuong Dong