Vingroup’s stock (ticker: VIC), owned by billionaire Pham Nhat Vuong, is shattering records and creating the most remarkable wave on Vietnam’s stock market. Since the beginning of the year, VIC has surged nearly 470% in market value, closing at 229,700 VND per share on November 21st.
Vingroup’s market capitalization has also skyrocketed by nearly 730 trillion VND since the start of the year, reaching a new record of nearly 885 trillion VND (~33 billion USD). In its 25-year history, Vietnam’s stock market has never witnessed such an unprecedented surge in market cap. Vingroup’s year-to-date gain alone surpasses the combined growth of all other stocks on the exchange.
With its current market cap, Vingroup firmly holds the top position on the stock market, leaving its competitors far behind. The conglomerate’s value even exceeds the combined market capitalization of Vietnam’s two largest banks, Vietcombank and BIDV. This is a monumental leap, considering Vingroup was not even in the top 10 by market cap at the beginning of 2025.
The explosive growth of VIC shares has propelled billionaire Pham Nhat Vuong’s wealth to new heights. On the Vietnamese stock market alone, the Vingroup Chairman’s assets have surpassed 500 trillion VND—a figure larger than the market cap of all other stocks combined, excluding Vingroup.
According to Forbes’ latest update on November 21st, Pham Nhat Vuong’s net worth exceeds 21 billion USD, ranking him 109th among the world’s wealthiest individuals. Additionally, a significant portion of his wealth is tied to VinFast, a Vietnamese company listed on Nasdaq with a market cap of over 8 billion USD.
Returning to Vingroup, the conglomerate’s shareholders have approved a stock issuance to increase equity capital from retained earnings. Vingroup will issue nearly 3.9 billion bonus shares at a 1:1 ratio. The issuance is expected to take place in Q4, with the exact timing determined by the Board of Directors.
Following the issuance, Vingroup’s chartered capital will double to over 77 trillion VND. This will position Pham Nhat Vuong’s conglomerate as the non-financial enterprise with the largest chartered capital on Vietnam’s stock market, surpassing Hoa Phat. Post-issuance, Vingroup’s chartered capital will trail only three banks: Vietcombank, MB, and VPBank.
In terms of business operations, Vingroup is actively deploying numerous projects across various sectors nationwide.
In Ha Tinh, VinEnergo—established by Pham Nhat Vuong and his two sons—has been deemed capable of executing two wind power projects with a combined investment of nearly 40 trillion VND.
VinMetal, with a capital of 10 trillion VND, is developing a high-tech industrial steel complex in Vung Ang (Ha Tinh), targeting an initial capacity of 5 million tons per year.
Vinhomes Ha Tinh (a Vingroup subsidiary) will construct the Son Duong International Port in Vung Ang ward. The project’s total investment exceeds 8.8 trillion VND, featuring three berths with a combined length of 1,050 meters, capable of accommodating 100,000-ton container and general cargo ships.
In Quang Ninh, the Ha Long Xanh Urban Complex project is accelerating land clearance. This is Vingroup’s largest project to date, with a total investment of over 456.6 trillion VND (approximately 18 billion USD).
Meanwhile, VinSpeed—a candidate for the North-South High-Speed Rail project—is researching a high-speed metro line connecting Ho Chi Minh City’s inner districts to Can Gio.
Overall, with Resolution 68 paving the way for private sector participation in national key projects, Vingroup is actively engaging in infrastructure, energy, and other sectors. This has heightened investor expectations for the conglomerate led by billionaire Pham Nhat Vuong.
Historic Peak for VIC: Billionaire Pham Nhat Vuong and Spouse’s Wealth Surges by $720 Million, While Nguyen Thi Phuong Thao’s VJC Hits Ceiling in Resilient Rally
Billionaire couple Pham Nhat Vuong and his wife saw their combined wealth surge by over $730 million today, marking a significant increase in their net worth.
Mega Metropolis: A Billion-Dollar Game Reserved for the Titans
According to experts, the development of megacities will be a major trend in the coming years, yet this arena remains exclusively accessible to large enterprises.
Is the Stock Market Already Pricing in 2026 Growth Expectations?
In the final months of 2025, Vietnam’s stock market is anticipated to increasingly reflect the outlook for 2026, driven by the government’s ambitious 10% GDP growth target and the continued implementation of consumer stimulus measures.
Vingroup and Sun Group’s Bold Moves: Connecting Billion-Dollar Projects via Rail and Air
Vietnam’s real estate titans are redefining development, going beyond building homes to invest in transformative infrastructure. From Vingroup’s expansive road and metro networks to Sun Group’s innovative cable cars and airlines, these visionary companies are not just connecting projects worth billions, but also fostering sustainable growth by making communities more accessible and desirable places to live.
Foreign Investors Ease Sell-Off Pace, Counter-Trend with Nearly VND 400 Billion Buy-In on Blue-Chip Stock
Foreign investors narrowed their net selling streak, with a modest net sell of approximately VND 84 billion across the entire market today.
