Billionaire Pham Nhat Vuong sets a new record in total assets. Image: VIC
During today’s morning trading session (December 9), Vingroup’s VIC shares continued to surge, even surpassing the VND 160,000 per share threshold. At one point, the stock price climbed to VND 163,300 (a 7% increase). This marks the third consecutive strong session since the ex-dividend date for the bonus share issuance, with a 1:1 ratio (shareholders holding 1 VIC share receive 1 new share).
According to Forbes, this surge in VIC shares has significantly boosted billionaire Pham Nhat Vuong’s wealth, Chairman of Vingroup, to $28.6 billion. Notably, in the past 24 hours, Vietnam’s wealthiest individual has seen a $2.8 billion increase in assets. This ranks as the second-highest gain globally, surpassing Nvidia CEO Jensen Huang ($2.6 billion) and trailing only American billionaire Larry Ellison, co-founder and CTO of Oracle Corporation.
Forbes reports that with his current net worth, billionaire Pham Nhat Vuong ranks 79th among the world’s richest individuals. This is an unprecedented achievement for a Vietnamese entrepreneur. His wealth also surpasses that of all listed companies in Vietnam.
Billionaire Pham Nhat Vuong’s asset growth ranks second globally in just 24 hours. Image: Forbes
In Southeast Asia, billionaire Pham Nhat Vuong solidifies his position as the region’s second-wealthiest individual, behind Indonesian billionaire Prajogo Pangestu (net worth $40.6 billion), founder and Chairman of Barito Pacific Group. This conglomerate operates primarily in petrochemicals, energy, coal mining, and renewable energy, ranking 47th globally.
The consecutive rise in VIC shares has propelled Vingroup’s market capitalization to over VND 1,200 trillion. This exceeds the combined capitalization of Vietnam’s three state-owned banks: Vietcombank, VietinBank, and BIDV. Vingroup remains the largest listed company on the Vietnamese stock market.
Why Are VIC Shares Surging?
Billionaire Pham Nhat Vuong is now the 79th richest person globally. Image: Forbes
Experts attribute VIC’s recent surge to positive developments within Vingroup. In October 2025, billionaire Pham Nhat Vuong and his family established several companies across diverse sectors, including VinMetal (steel), Vin New Horizon (elderly care), and V-Film (entertainment). In November 2025, Vietnam’s richest billionaire founded VinSpace, contributing 71% to this company specializing in aircraft, spacecraft, satellite telecommunications, and air cargo production.
Additionally, VIC shares gained momentum following news that VinSpeed (a Vingroup subsidiary) was awarded the Ben Thanh – Can Gio railway project by Ho Chi Minh City, valued at nearly $4 billion. This high-speed rail line, connecting downtown Ho Chi Minh City to Can Gio, has a preliminary investment of over VND 102.4 trillion, excluding VND 12.8 trillion for land compensation and clearance.
Notably, on December 19, Vingroup will commence four major projects totaling over VND 600 trillion. These include: VinMetal Ha Tinh Steel Plant (461 ha, VND 80 trillion); Ky Anh Wind Power Plant (400 MW, VND 17.051 trillion); Eco Wind Ky Anh Wind Power Plant (500 MW, VND 22.647 trillion); and Ky Trinh New Urban Area (84 ha, VND 8 trillion).
With VIC’s strong performance, Pham Thu Huong, wife of billionaire Pham Nhat Vuong, ranks among the top 3 wealthiest individuals on the Vietnamese stock market, with assets totaling VND 52.104 trillion.
Earning $1.5 Billion in 6 Hours: Billionaire Pham Nhat Vuong Sets a New Record
The trading session on December 8th marked a historic milestone, not only for Chairman Pham Nhat Vuong’s remarkable asset growth but also for Vingroup, as it became the first Vietnamese enterprise to reach a market capitalization of 1.2 million billion VND.
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Vietnam’s Newest Billion-Dollar Startup Launches $8.7 Billion Projects, Matching Combined Capacity of Three Major Hydropower Plants
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