Vingroup Chairman and his wife both join billionaire ranks
Vingroup Chairman Phạm Nhật Vượng remains Việt Nam’s richest man, while his wife Phạm Thu Hương has also reached billionaire status.
HÀ NỘI — The family of Vingroup Chairman Phạm Nhật Vượng is seeing a sharp rise in wealth, as both he and his wife, Phạm Thu Hương, now hold billionaire status thanks to the soaring value of Vingroup stock.
Vingroup (VIC) shares rose more than 6 per cent on Thursday, reaching a record VNĐ158,000 (roughly US$6) per share. This rally lifted the value of the Vượng family’s holdings on the stock market significantly.
Hương, who directly owns over 170 million VIC shares, has seen her wealth grow by more than VNĐ20 trillion since the beginning of the year to nearly VNĐ27 trillion (around $1 billion).
She now ranks fifth among the richest people in Việt Nam. Although Forbes has not yet listed her as a billionaire, the continued rise of VIC shares could soon make her the next Vietnamese name on its list.
Meanwhile, Phạm Nhật Vượng remains Việt Nam’s wealthiest individual. His direct and indirect holdings in Vingroup are estimated at VNĐ290 trillion (nearly $11 billion), far ahead of others on the market and even exceeding the market capitalisation of major banks like BIDV, VietinBank, Techcombank and VPBank.
According to Forbes’ September 25 update, his total net worth is $15.4 billion, ranking 168th globally. Forbes values billionaires by shareholdings at a given time and other assets like companies, real estate, art and yachts.
Beyond Vingroup shares, Vượng’s fortune also comes from VinFast, the electric vehicle maker listed on Nasdaq with a market capitalisation of over $7 billion.
The surge in Vingroup’s value has also lifted the group to a historic milestone, with market capitalisation surpassing VNĐ600 trillion for the first time in Việt Nam. This achievement places Vingroup well ahead of Vietcombank, which was the first firm to reach VNĐ500 trillion but has since slowed its growth.
Vingroup’s recent momentum is supported by a series of positive developments, including a proposed VNĐ5.5 trillion cash dividend from its affiliate Vietnam Exhibition Fair Centre JSC (VEFAC), a VNĐ21.4 trillion auto parts industrial park project in Hà Tĩnh, and the upcoming groundbreaking of a 4,800MW LNG power plant in Hải Phòng.
Vingroup's shares are still trading around VNĐ158,000 per share as of Friday, September 26. — BIZHUB/VNS
