Vuong Pham, VinGroup Chairman, Becomes First Vietnamese Billionaire with $9B Fortune

The founder and chairman of Vingroup, Pham Nhat Vuong, has become the first Vietnamese individual to amass a wealth of $9 billion, as reported in the recent Forbes update on May 8th.

This accomplishment secures Vuong a place at number 330 on the magazine’s list of wealthiest individuals worldwide.

The chairman of Vingroup, Pham Nhat Vuong, was present at an event in Ho Chi Minh City on April 19, 2025. The photograph was taken by VnExpress/Thanh Tung.

This significant growth in Vuong’s fortune is primarily due to the escalation in the value of Vingroup’s stocks (VIC). These have witnessed a considerable uptick following recent events.

The primary driver behind this expansion was the announcement setting a firm IPO date for Vinpearl, which is part of Vingroup. Consequently, the share price of Vingroup’s parent company steadily increased, hitting its peak in almost three years, specifically since June 2022.

On May 8, the VIC share price ended at VND78,500 per share, marking a rise of nearly 7%. This pushed Vingroup’s market capitalization above VND300 trillion, equivalent to approximately US$11.6 billion.

In the meantime, Vinpearl plans to list more than 1.79 billion shares, totaling approximately VND130 trillion, on the Ho Chi Minh Stock Exchange starting May 13. The initial reference price set for the first day of trading stands at VND71,300 per share.

This places Vinpearl amongst the most highly valued entities on the stock market, outperforming well-known competitors such as Masan, Vinamilk, and various significant banking institutions.

In the initial three months, Vingroup reported consolidated net revenues exceeding VND84 trillion, marking an impressive surge of 287% from the corresponding timeframe in 2023. Additionally, the company posted a post-tax profit of VND2.24 trillion, representing a significant rise of 68% over the previous year’s figures.

This expansion was fueled by robust performance in industrial output along with developments and transactions in the real estate sector.

Vingroup is establishing lofty goals.

In terms of financial projections for this year, the company aims to achieve net revenues totaling VND300 trillion from its manufacturing and operational activities, marking a significant rise of 56% over last year’s figures. Additionally, they aspire to reach a post-tax profit amounting to VND10 trillion, which reflects an impressive 90% jump from what was recorded in 2024.