Mr. Pham Nhat Vuong has 7 billion USD thanks to VinFast
Vietnam’s stock market recorded quite a lot of fluctuations in the Year of the Cat 2023, with prices increasing most of the beginning of the year but then adjusting quite strongly before increasing again recently.
However, the position in the top 10 richest rankings on the stock exchange has not changed much.
Mr. Pham Nhat Vuong, Chairman of the Board of Directors of Vingroup, still holds the No. 1 position in the list of the richest people, with assets calculated by shares listed on the stock market as of the end of February 7 (Tet 28) reaching more than 88 trillion VND (equivalent to nearly 3.7 billion USD).
According to the Bloomberg Billionaire Index’s ranking of 500 billionaires as of February 8, Chairman of the Board of Directors of Vingroup and VinFast electric car company Pham Nhat Vuong has assets of 7.15 billion USD. Bloomberg has put Mr. Vuong back in the ranking of 500 billionaires after taking into account the assets of the richest billionaire in Vietnam formed from the VinFast car company.
Previously, for many months, Bloomberg had not calculated Mr. Vuong’s assets from the electric car company VinFast (VFS) due to strong fluctuations in VFS shares. On August 15, VinFast listed more than 2.3 billion shares on the Nasdaq stock exchange. This stock fluctuated very strongly, from the opening level of about 23 USD/share to over 90 USD/share then dropped sharply, sometimes reaching 5 USD/share. Recently, VinFast shares have stabilized around 5-6 USD/share.
Asset fluctuations of billionaire Pham Nhat Vuong according to calculations by Bloomberg.
Mr. Vuong currently owns 45% of VinFast shares. Bloomberg also excluded the shares he controlled in VinFast through Vingroup to avoid double counting.
Meanwhile, according to Forbes, Mr. Pham Nhat Vuong’s assets as of February 8, 2024 are at 4.5 billion USD. This organization may not yet count assets formed from electric car company VinFast.
Previously, near the end of August 2023, Forbes calculated that Mr. Vuong had assets of up to 66 billion USD. Billionaire Vuong was then the 16th richest on the planet and the 2nd richest in Asia while VinFast had a capitalization of over 200 billion USD. However, this organization decided to recalculate by ignoring the stock market price on the exchange in the context of strong fluctuations in VFS shares.
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