Vietnam’s economic landscape has been shaped by a handful of visionary entrepreneurs who have amassed significant wealth while driving the country’s rapid development. As of March 2025, the five richest individuals in Vietnam have maintained their status through strategic investments and business expansions across multiple industries.

1. Pham Nhat Vuong – Chairman of Vingroup

Pham Nhat Vuong remains the richest person in Vietnam

Pham Nhat Vuong remains the richest person in Vietnam, with a net worth of approximately $6.7 billion, a significant increase from $4.1 billion at the end of 2024. His fortune saw a notable rise, landing him in Forbes’ Top 500 Richest People in the World, where he currently ranks 496th.

Business Ventures and Achievements

Born in 1968, Vuong began his entrepreneurial journey in Ukraine, where he founded an instant noodle business. After selling that venture, he returned to Vietnam and established Vingroup, which has since become a powerhouse across real estate, retail, healthcare, education, and high-tech industries. Vingroup’s electric vehicle subsidiary, VinFast, has played a pivotal role in his growing fortune, with an aggressive expansion into international markets.

Recent Developments

The surge in Vuong’s wealth is attributed to the sharp increase in Vingroup’s stock price (VIC), which rose nearly 13% in a week and 20% in a month. His direct ownership of approximately 691.27 million VIC shares (about 18% of the company’s charter capital) has further strengthened his financial standing.

2. Nguyen Thi Phuong Thao – Chairwoman of VietJet Air

Nguyen Thi Phuong Thao and Donald Trump

Nguyen Thi Phuong Thao is Vietnam’s second-richest person and the country’s wealthiest woman, with an estimated net worth of $2.8 billion.

Business Ventures and Achievements

Thao revolutionized the Vietnamese aviation industry by launching VietJet Air, the first private airline in the country. The airline’s success is attributed to its low-cost model, aggressive market expansion, and strategic branding. Beyond aviation, she has invested in banking and real estate, contributing to her substantial net worth.

Recent Developments

VietJet’s expansion into international markets and its consistent financial performance have helped maintain Thao’s status among Vietnam’s top billionaires. The airline has also introduced new aircraft and expanded flight routes, strengthening its position in the competitive aviation sector.

3. Tran Dinh Long – Chairman of Hoa Phat Group

Tran Dinh Long

Tran Dinh Long, with a fortune of $2.4 billion, is Vietnam’s leading figure in the steel industry.

Business Ventures and Achievements

Long founded Hoa Phat Group in 1992, initially as a machinery trading company. Over time, it evolved into the largest steel manufacturer in Vietnam, supplying a significant portion of the country’s steel demand. His company has since expanded into real estate and agriculture.

Recent Developments

Despite global economic fluctuations affecting the steel industry, Hoa Phat has maintained profitability through technological innovation and strategic expansion into international markets.

4. Ho Hung Anh – Chairman of Techcombank

Vietnamese billionaire Ho Hung Anh

Ho Hung Anh holds a $2 billion fortune and leads Techcombank, one of Vietnam’s largest commercial banks.

Business Ventures and Achievements

Having started his career in Eastern Europe, Hung Anh returned to Vietnam to invest in banking and financial services. Under his leadership, Techcombank has become a dominant player in the banking sector, focusing on digital transformation and customer-centric financial solutions.

Recent Developments

Techcombank’s aggressive push toward digital banking and fintech solutions has strengthened its market position, boosting its stock value and increasing Hung Anh’s wealth.

5. Nguyen Dang Quang – Chairman of Masan Group

Vietnamese billionaire Nguyen Dang Quang

Nguyen Dang Quang has re-entered Forbes’ Billionaire List with a $1 billion net worth, making him the fifth-richest person in Vietnam.

Business Ventures and Achievements

Quang co-founded Masan Group, initially focusing on the food processing industry before expanding into retail, mining, and financial services. His company’s consumer goods sector is well-known for producing popular household food brands in Vietnam.

Recent Developments

Masan Group has strengthened its retail dominance through strategic acquisitions, including VinCommerce, which operates WinMart supermarkets. The company’s continuous growth has played a crucial role in Quang’s resurgence as a billionaire.

Who Dropped Out of Vietnam’s Billionaire List?

While Vietnam still boasts a robust list of billionaires, some notable individuals have dropped off the list due to economic downturns and business fluctuations.

• Tran Ba Duong (Chairman of Thaco) is no longer a billionaire as of 2025 due to challenges in the automobile and logistics industry.

• Nguyen Thi Mai Thanh (Chairwoman of REE Corporation) has also seen a decline in wealth due to market corrections in the energy and construction sectors.

Conclusion

Vietnam’s billionaires reflect the country’s dynamic economic evolution. Their diversified business interests, ranging from real estate and aviation to banking and steel production, highlight the potential of Vietnam’s expanding industries.

As these entrepreneurs continue to innovate and expand internationally, their influence will shape Vietnam’s economy in the coming decades. With the rise of digital banking, electric vehicles, and modern retail, the next generation of Vietnamese billionaires is already on the horizon.

FAQs

Q1: How is the net worth of Vietnam’s billionaires calculated?

A1: Net worth estimates are based on the value of publicly traded stocks, private assets, and investments, as analyzed by Forbes and financial analysts.

Q2: What industries dominate Vietnam’s billionaire rankings?

A2: The top billionaires are involved in real estate, aviation, steel manufacturing, banking, retail, and consumer goods.

Q3: Why did Tran Ba Duong and Nguyen Thi Mai Thanh drop off the list?

A3: Their companies faced declining stock values due to challenges in the automotive, logistics, and energy sectors.

Q4: Will Vietnam see new billionaires soon?

A4: Yes, Vietnam’s rapid economic growth and tech boom suggest that new billionaires in fintech, AI, and green energy will emerge in the coming years.

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