Vietnam now boasts eight USD billionaires, with three new additions recently recognized by Forbes' real-time ranking. The new entrants are Pham Thu Huong and Pham Thuy Hang, both executives at Vingroup, and Ngo Chi Dung, chairman of VPBank.

Pham Thu Huong, Pham Thuy Hang, and Ngo Chi Dung on the real-time billionaire ranking. *Photo: Forbes*.

Pham Thu Huong, the vice chairwoman of Vingroup, holds assets valued at 2,2 billion USD. As the wife of Pham Nhat Vuong, chairman of Vingroup's board and a co-founder of the conglomerate, she plays a pivotal role. Huong, born in 1969, earned a Master's degree in International Law from Ukraine. Her significant holdings include over 341 million VIC shares, representing approximately 4,4% of the group's capital.

Her younger sister, Pham Thuy Hang, also a Vingroup vice chairwoman, joins the list with assets of 1,5 billion USD. Born in 1974, Hang graduated with a major in Russian Language from Hanoi University (formerly Hanoi University of Foreign Studies). She currently holds about 228,3 million VIC shares, accounting for nearly 3% of the capital.

Ngo Chi Dung, chairman of Vietnam Prosperity Joint Stock Commercial Bank (VPBank), is the third new USD billionaire. Born in 1968, Dung is an alumnus of Moscow Geological Prospecting University and holds a Doctor of Economics degree from the Russian Academy of Sciences. He currently possesses over 328 million VPB shares, equivalent to 4,14%, bringing his total assets to 1,1 billion USD, according to Forbes.

Vietnam's three new USD billionaires, from left: Pham Thu Huong, Ngo Chi Dung, and Pham Thuy Hang. *Photo: Trong Hieu*

With these additions, Vietnam's total number of USD billionaires stands at eight. Pham Nhat Vuong remains the wealthiest individual in Vietnam, with assets totaling 21,1 billion USD. However, his net worth has decreased by more than 7 billion USD since the end of last year.

The assets of other prominent Vietnamese billionaires, including Vietjet chairwoman Nguyen Thi Phuong Thao, Hoa Phat chairman Tran Dinh Long, and Techcombank chairman Ho Hung Anh, also experienced declines. This reduction in wealth is primarily attributed to a downturn in the market value of their respective stock holdings. For instance, VIC and VJC stock codes each saw a reduction of about 23% in market price, while HPG and TCB also decreased by several percent.

Conversely, Masan chairman Nguyen Dang Quang's assets increased by 100 million USD. This rise is linked to a 7% increase in MSN stock since the beginning of the year.

Forbes determines individual wealth by assessing the quantity and market price of shares an individual holds at a specific time. Their ranking methodology also considers other assets, such as ownership in private companies, real estate, art collections, and yachts.

Trong Hieu