Vietnam’s stock market witnessed a tug-of-war during the trading session on August 25th, following a pressured adjustment in the previous week. VIC shares of Vingroup took center stage as they soared by almost 5% at one point, surging to a new historical peak of 130,000 VND per share. This propelled the company’s market capitalization to nearly 500.9 trillion VND (approximately 19.3 billion USD), tripling since the beginning of the year.
Other ecosystem-related stocks such as VHM and VRE also witnessed price increases, with VHM rising by over 1% and trading at its historical peak as well.
The substantial gain in VIC shares further bolstered the wealth of Mr. Pham Nhat Vuong, Chairman of Vingroup. Estimates place his stock holdings in the Vietnamese stock market (including direct and indirect ownership) at approximately 292 trillion VND, a record-breaking figure that far surpasses the rest of Vietnam’s stock market billionaires.
According to Forbes, billionaire Pham Nhat Vuong currently possesses a net worth of 13.1 billion USD, ranking 208th globally and first in Vietnam. Per Forbes’ calculations, the Chairman of Vingroup’s wealth has increased by approximately 6.6 billion USD since the beginning of 2025, propelling the billionaire over 320 places up the world’s richest people list.
In terms of business performance, for the first six months of 2025, the conglomerate founded by billionaire Pham Nhat Vuong recorded a revenue of 130,382 billion VND, doubling that of the same period last year. As a result, after-tax profit reached 4,508 billion VND, more than doubling. According to the company, profit growth was driven by the recovery and development in the fields of residential real estate, industry, tourism and entertainment. In 2025, Vingroup aims for a consolidated revenue of 300,000 billion VND and an after-tax profit of about 10,000 billion VND, increasing by 56% and nearly 90%, respectively, compared to 2024’s performance.
Recently, Vingroup was awarded the First-Class Labor Order for its outstanding achievements in organizing and implementing the construction of the National Convention and Exhibition Center, completing the project 15 months ahead of schedule.
The National Convention and Exhibition Center is a key national project and is among the top 10 largest exhibition centers worldwide. With a total scale of 900,000 square meters, it is expected to become an international destination for leading global trade events and exhibitions and a new symbol of development for the capital city. The project commenced on August 30, 2024, and the site was handed over on June 27, 2025, just under 10 months later, surpassing the planned schedule by 15 months.
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