Billionaire Pham Nhat Vuong Sets Unprecedented Record: Vingroup’s Market Cap Surpasses $38 Billion for the First Time

The stock market kicked off the new week on a positive note, fueled by the momentum of Vingroup (stock code: VIC), Vietnam’s leading conglomerate. VIC shares surged over 5% at one point, pushing the company’s market capitalization past the 900 trillion VND mark for the first time, setting an unprecedented record. This milestone solidifies Vingroup, founded by billionaire Pham Nhat Vuong, as the most valuable company on the Vietnamese stock exchange.

Notably, Vingroup shareholders recently approved a share issuance to increase equity capital from retained earnings. The company 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 to be determined by the Board of Directors.

Following the issuance, Vingroup’s chartered capital will double to over 77 trillion VND, surpassing Hoa Phat to become Vietnam’s largest non-financial enterprise by chartered capital. This will place Vingroup behind only Vietcombank, MB, and VPBank in terms of chartered capital.

In Q3 2025, Vingroup reported consolidated net revenue of 169.611 trillion VND for the first nine months, a 34% increase year-over-year. Consolidated net profit reached 7.565 trillion VND, nearly double the same period in 2024, achieving 76% of the annual profit target.

As of September 30, 2025, Vingroup’s total assets reached 1,087.870 trillion VND, a 30% increase from December 31, 2024, surpassing the 1 million trillion VND mark for the first time.

Vingroup’s stock rally comes amid the accelerated development of numerous projects across various sectors nationwide.

In Ha Tinh province, 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, aims to develop a high-tech industrial steel complex in Vung Ang (Ha Tinh), with 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, valued at over 8.8 trillion VND, includes three berths totaling 1,050 meters in length, capable of accommodating 100,000-ton container and general cargo vessels.

In Quang Ninh province, the Ha Long Xanh Urban Complex, Vingroup’s largest-ever project with an investment of over 456.6 trillion VND (approximately 18 billion USD), is accelerating land clearance efforts.

Additionally, VinSpeed, a candidate for the North-South High-Speed Railway project, is researching a high-speed metro line connecting Ho Chi Minh City’s urban core to Can Gio district.

With Resolution 68 paving the way for private sector participation in national key projects, Vingroup is actively engaging in infrastructure and energy initiatives. This has heightened investor confidence in Pham Nhat Vuong’s conglomerate.