Vingroup's VIC shares rose 1.33% to 145,000 VND per share on 18/9, defying the VN-Index's nearly 6-point drop. Since the beginning of the year, the stock price has increased by 257%. Other Vingroup stocks, such as VHM, VRE, and VEF, also bucked the market's downward trend.

The group's market capitalization reached nearly 558,700 trillion VND, an increase of over 400,000 trillion VND in 9 months. This makes Vingroup the most valuable company on the Vietnamese stock market, surpassing Vietcombank.

Pham Nhat Vuong's conglomerate previously held this position from 2017 to 2019 before being overtaken by Vietcombank in 2020.

Along with the positive performance of Vingroup's stocks, Pham Nhat Vuong's net worth has increased by nearly 10 billion USD since the start of the year, reaching 14.2 billion USD, according to Forbes. He is now ranked 186th among the world's richest people, entering the top 200 for the first time.

Born in 1968, Pham Nhat Vuong is the Chairman of Vingroup and CEO of VinFast. He directly owns 450 million VIC shares, equivalent to 11.6% of the charter capital. However, he and his family maintain controlling interest in Vingroup, with a total holding of over 65%. He also owns nearly half of VinFast through two private companies.

VinFast factory in Cat Hai Economic Zone, Hai Phong. Photo: Minh Tuan.

Nguyen The Minh, Director of Retail Research and Development at Yuanta Securities Vietnam, attributes Vingroup's stock surge to the overall market uptrend since the beginning of the year and the company's unique appeal. According to Minh, the strong performance of real estate arms like Vinhomes and Vincom Retail is offsetting the electric vehicle division and improving the company's financial standing.

Vingroup's 2025 semi-annual financial report shows real estate revenue reached 70,524 trillion VND, a 167% increase year-over-year. Gross profit reached 27,604 trillion VND, nearly triple the previous year's figure. Vinhomes, the largest real estate brand in the group's ecosystem, reported a profit after tax of nearly 11,000 trillion VND in the first 6 months.

VinFast, Vingroup's electric vehicle manufacturer, reported a cumulative loss of 305,780 trillion VND, resulting in negative equity of 100,232 trillion VND as of June of this year. However, Pham Nhat Vuong has pledged to fund VinFast "until he runs out of money." The financial report also indicates he provided an additional 23,000 trillion VND to VinFast in the first half of the year.

Trong Hieu