Billionaire Pham Nhat Vuong sets an unprecedented record in total assets. Image: Forbes
Closing the stock trading session on December 23, Vingroup’s stock group continued its positive momentum, with significant gains. Specifically, VIC (Vingroup) and VHM (Vinhomes) both hit their upper limits, while VRE rose by 3.79%.
VIC shares surged to a historic high of 169,900 VND per share (adjusted price, an eightfold increase since the beginning of the year). Additionally, VHM also reached its ceiling at 114,900 VND per share, the highest level in the past two months. VPL (Vinpearl) also saw impressive growth, rising over 5% to 103,000 VND per share.
Billionaire Pham Nhat Vuong earns an additional $3.4 billion in a single day. Image: Forbes
Beyond Vingroup’s stocks, the market also witnessed STB (Sacombank) hitting its ceiling for the second consecutive session. Experts attribute this partly to the appointment of Mr. Nguyen Duc Thuy as the bank’s Acting CEO. Mr. Thuy recently resigned from his position as Chairman of LPBank’s Board of Directors.
Conversely, LPB shares fell by 5% to 41,800 VND per unit, becoming the most negatively impactful stock on the index today.
Closing the December 23 session, the VN-Index rose by over 21 points, surpassing 1,772 points. Notably, trading value on HoSE exceeded 26.2 trillion VND. The market recorded eight stocks hitting their ceilings, including FDC, PDN, VTB, TEG, and HVH, alongside Vingroup’s group.
Billionaire Pham Nhat Vuong Sets a New Record, Ranking Top 3 Globally
Billionaire Pham Nhat Vuong ranks third globally in asset growth. Image: Forbes
Thanks to the strong performance of Vingroup’s stocks, billionaire Pham Nhat Vuong’s total assets surged to $30 billion (as updated by Forbes), a $3.4 billion increase from the previous day. This marks the third-highest growth among the world’s wealthiest individuals.
With $30 billion in assets, Pham Nhat Vuong now ranks 71st on the global wealth list, surpassing notable figures such as Jack Ma, Samsung Chairman Lee Jae Yong, Nike founder Phil Knight and family, and former U.S. President Donald Trump. This is an unprecedented achievement for a Vietnamese individual.
In reality, Pham Nhat Vuong and his family hold a controlling stake in Vingroup, totaling approximately 65%. The Vingroup Chairman directly owns 389.9 million VIC shares, equivalent to 10.05% of the capital.
Why Are Vingroup’s Stocks Surging?
Pham Nhat Vuong’s wealth surpasses Jack Ma and others on Forbes’ list.
According to experts, Vingroup’s stocks have been soaring due to positive news surrounding the conglomerate’s operations.
Recently, Pham Nhat Vuong and Vingroup’s ecosystem have invested hundreds of trillions of VND in new business ventures. Notable subsidiaries include VinEnergo (energy), VinMetal (steel), VinSpace (aerospace), and V-Film (entertainment). Additionally, Vietnam’s richest billionaire aims to undertake the North-South high-speed railway project, with a total investment of approximately $61 billion.
Most recently, on December 19, the country witnessed the groundbreaking, inauguration, and technical launch of 234 key projects, totaling over 3.4 million billion VND in investment. Vingroup contributed 11 projects, spanning urban development, infrastructure, green energy, and heavy industry.
Billionaire Pham Nhat Vuong at the groundbreaking ceremony for the Olympic Sports Urban Area. Image: VIC
Notably, Vingroup’s Olympic Sports Urban Area project in Hanoi boasts an investment of over 925 trillion VND. Spanning nearly 9,200 hectares, it is Vietnam’s largest urban development project to date.
The project’s centerpiece is the Trống Đồng Stadium, a 73.3-hectare facility with a seating capacity of 135,000. Designed to FIFA standards, it features the world’s largest retractable roof. Completion is scheduled for August 2028.
Billionaire Pham Nhat Vuong Raises $325 Million in Foreign Capital as VIC Stock Hits All-Time High
Vingroup has successfully completed a landmark international bond issuance, raising a total of $325 million with a 5-year maturity. The bonds are listed on the Vienna Stock Exchange in Austria, marking a significant milestone for the corporation’s global financial strategy.
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Breaking: Nearly 3.9 Billion Vingroup Shares Set to Hit Investor Accounts
The majority of Vingroup’s shares will be transferred to billionaire Pham Nhat Vuong and his affiliated individuals and organizations.
Pham Nhat Vuong Climbs the Ranks of the World’s Richest Individuals
According to Forbes’ real-time data, his net worth surged to $30 billion, skyrocketing by $3.4 billion in just one day, surpassing even the wealthiest Chinese billionaire.
