The founder and chairman of Vingroup, Pham Nhat Vuong, has made history as the first Vietnamese individual to amass a wealth of $9 billion, as reported by the recent Forbes update on May 8th.
This accomplishment secures Vuong a position at number 330 on the magazine’s list of wealthiest individuals worldwide.
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The chairman of VinGroup, Pham Nhat Vuong, was present at an event in Ho Chi Minh City on April 19, 2025. The photograph was taken by VnExpress/Thanh Tung. |
This significant growth in Vuong’s fortune can mostly be ascribed to the escalation in the value of Vingroup’s stocks (VIC). These have experienced a notable uptick subsequent to recent events.
The primary driver behind this expansion was the announcement setting a specific date for the initial public offering (IPO) of Vinpearl, which is part of Vingroup. Consequently, the share price of Vingroup surged steadily, hitting its peak in almost three years, specifically since June 2022.
On May 8, the VIC share price closed at VND78,500 per share, an increase of almost 7%, bringing the market capitalisation of Vingroup to more than VND300 trillion, or about US$11.6 billion.
Meanwhile, Vinpearl will list over 1.79 billion shares worth nearly VND130 trillion in total on the Ho Chi Minh Stock Exchange on May 13. The reference price for the first day of trading is VND71,300 per share.
This places Vinpearl amongst the most valuable entities on the stock exchange, outperforming well-known competitors such as Masan, Vinamilk, and various significant banks.
In the first quarter, Vingroup’s consolidated net revenue reached more than VND84 trillion, a remarkable increase of 287% compared to the same period in 2024. It also achieved a profit after tax of VND2.24 trillion, a 68% increase year-on-year.
This expansion was fueled by robust performance in industrial output, along with developments and transactions in the real estate sector.
Vingroup is establishing lofty goals.
In terms of revenue from production and business operations, the target is set at VND300 trillion, marking a 56% rise over the prior year. Additionally, they aim for post-tax profits totaling VND10 trillion, which would be an impressive 90% jump from what was achieved in 2024.
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