Who Will Be The 10th Billionaire In Vietnam?

Billionaires in Vietnam. Photo: tapchidoanhnhan.

Top 9 billionaires in Vietnam

The annual Forbes list of the richest people in the world has the highest number of Vietnamese citizens in it, with six billionaires making the cut. Besides, the Vietnam Stock Exchange recognized three more richest ones in this country. Let's scroll down to find out information on these billionaires.

1. Pham Nhat Vuong - $7.3 billion

Pham Nhat Vuong, the owner of Vietnam's biggest private conglomerate Vingroup and the country's first billionaire, is on the list for the ninth consecutive year. He remains Vietnam’s richest man with a net worth of $7.3 billion (up $1.7 billion compared to 2020) and ranked 344th in the world. As Vn Express reported, Vuong first made the list in 2013, when he was ranked 974th with a net worth of $1.5 billion.

Pham Nhat Vuong studied in Russia and started a popular instant noodle business in Ukraine in the 1990s before moving back. Pham chairs Vingroup, one of Vietnam's largest conglomerates with interests in real estate, retail, and healthcare among others.

2. Nguyen Thi Phuong Thao - $2.8 billion

Nguyen Thi Phuong Thao made the list for the fifth time with a net worth of $2.8 billion, ranking 1,111th. Thao is currently the vice chairwoman of HDBank, vice president and CEO of VietJet Air. Nguyen got the idea to launch a low-cost airline while she was a trader, as Forbes reported, when she predicted that demand for air travel in Vietnam would increase.

Vietnam's first self-made woman billionaire took her budget airline, VietJet Air, public in February 2017. She launched the airline in 2011 and made a big splash early on with ads featuring bikini-clad flight attendants. She also has investments in HD Bank and real estate, including three beach resorts.

During the Prime Minister's working visit to the UK, Ms. Nguyen Thi Phuong Thao, Chairwoman of the Board of Directors of Sovico Group, signed a memorandum of understanding on cooperation with Linacre University, University of Oxford. Photo: tapchidoanhnhan.

3. Tran Dinh Long - $1.6 billion

Tran Dinh Long, chairman of the Hoa Phat Group, also re-entered the Forbes list after his first appearance in 2018. Tran Dinh Long founded Hoa Phat Corp., an equipment and parts distributor, in Hanoi in 1992. He is worth is $2.2 billion and ranked 1,444th in the world.

Hoa Phat is now the biggest steelmaker in Vietnam, making office equipment, steel pipes and construction steel. Hoa Phat's new $3 billion steel factory in Dung Quat, Vietnam has an annual capacity of five million tons. He's planning a further $3 billion expansion to meet the country's rising demand for steel.

4. Tran Ba Duong - $1.6 billion

Tran Ba Duong got his start working at an auto repair factory in the 1980s and eventually worked his way up to management.

Tran Ba Duong, chairman and founder of the Truong Hai Auto Company (Thaco), has been in the Forbes list since 2018. His current net worth is $1.6 billion and he is ranked 1,931st in the world. Thaco initially sold only automobiles, but gradually expanded to car assembly for foreign brands like Kia, Mazda and Peugeot, as well as manufacturing Vietnamese branded buses and trucks.

5. Ho Hung Anh - $1.6 billion

Techcombank chairman Ho Hung Anh is on the list for the third time. His net worth is the same as that of Duong. Techcombank is a large commercial bank in Vietnam that went public in June 2018. Ho and fellow billionaire Nguyen Dang Quang, whom he met while studying in Russia, are two close business partners whose interests are intertwined.

Ho started investing in Techcombank, in which Nguyen was already an investor, in 1995. They took control in 2006. Together they control two big listed companies, Masan Group and Techcombank, a commercial bank, through Masan JSC, a holding company that they co-own.

6. Nguyen Dang Quang - $1.2 billion

Nguyen Dang Quang invested in commercial bank Techcombank in 1993 and later founded Masan Group with business partner, Ho Hung Anh, in 2004.

Nguyen Dang Quang belongs to the wave of Vietnamese students who studied in Russia and Eastern Europe in the 1980s, after the Vietnam War. He returned to Vietnam and worked for Vietnam's Academy of Sciences before joining the private sector in the 1990s.

Masan Group has interests in a wide range of consumer and food product businesses, ranging from animal feeds to food processing. While Ho Hung Anh, who is chairman of Techcombank, is in charge of the bank, Nguyen is focused on building Masan Group as its chairman.

7. Bui Thanh Nhon - $1.4 billion

The Vietnam Stock Exchange also recognized 3 more billionaires. The first one is Bui Thanh Nhon, Chairman of the Board of Directors of NoVa Real Estate Investment Group (NovaLand, code NVL). According to statistics, Mr. Nhon owns more than 317.3 million shares of NVL. With the current market price of NVL shares, Mr. Nhon owns assets worth more than 32,900 billion VND, equivalent to $1.4 billion.

8. Do Anh Tuan - $1.38 billion

Also owning billions of dollars in assets is Do Anh Tuan, Deputy General Director of KienLongBank. According to statistics, he owns a large number of shares of KienLongBank (code KLB), KSFinance (code KSF), Construction SCG (code SCG) and Sunshine Homes (code SSH). According to the closing price of the stock trading session on October 27, he owns assets of more than 31,900 billion VND, equivalent to $1.38 billion.

9. Nguyen Van Dat - $1.25 billion

The rise of PDR shares also brought Nguyen Van Dat, Chairman of Phat Dat Real Estate Development Joint Stock Company (code PDR), into the list of billionaires of Vietnam stock exchange. Accumulated from the beginning of 2021 to the end of the session on October 27, PDR shares have increased by more than 131%. With nearly 298 million PDR shares that Mr. Dat owns, his assets are estimated at 28,900 billion VND, equivalent to $1.25 billion.

An VinFast car is tested in a factory in the northern Hai Phong City. Photo by VnExpress/Minh Tuan.

Who Will Be The 10th Billionaire In Vietnam?

Besides the current 9 USD billionaires, the Vietnamese stock market also gradually reveals some potential ones whose assets have approached USD billion.

The first one is Nguyen Duc Thuy, Vice Chairman of the Board of Directors of LienVietPostBank (code LPB). He is also a founding shareholder of Thaiholdings Joint Stock Company (code THD). He left the position of Chairman of the Board of Directors of Thaiholdings at the end of February 2020 and became the Vice Chairman of the Board of Directors of LienVietPostBank from May 2021.

For the time being, with a large amount of TDH and LPB shares, he owns a fortune of more than VND 20,300 billion, equivalent to $900 million.

Besides, Vu Thi Hien, the wife of Tran Dinh Long, and Ho Xuan Nang, Chairman of the Board of Directors of Vicostone (code VCS), also own assets that almost meet requirements.

In the coming time, who will be the 10th billionaire of Vietnam's stock market? It can be seen that most of Vietnam's billionaires take decades to get the first 1 billion USD. Besides, many entrepreneurs have entered the billionaire's list with the springboard from real estate. In fact, according to the statistics of the 20 richest people on the Vietnam stock exchange, there are 7 entrepreneurs from the real estate sector, accounting for 35%. However, Vietnam's billionaires are expanding their activities into many fields.

Accordingly, Nguyen Thi Phuong Thao succeeded in the aviation industry, Tran Dinh Long became "the king of steel" in the construction industry, Ho Hung Anh gave Techcombank a market capitalization that could be even higher than the 20 billion USD figure if it maintained a growth rate of 25% per year, Tran Ba ​​Duong is turning Thaco Truong Hai and Thaco Chu Lai into the largest centralized logistics and auto industry center in the country and one of the top in Southeast Asia, Nguyen Dang Quang is making Masan become Vietnam's leading enterprise in the field of fast-moving consumer goods, changing the lifestyles of millions of consumers.

Sky Mavis team. Photo: tapchidoanhnhan.

The success of these billionaires reflects Vietnam's private economy after 30 years of successful renovation in the manufacturing and service industries. From the very beginning, Vietnam's billionaires are expanding into many other fields to maintain high growth and increase their wealth.

The Vietnamese government has put a lot of determination in promoting institutional improvement, cutting administrative procedures, and fighting corruption and negativity. This effort will help Vietnam's billionaires step onto the economic stage more properly and confidently with their own competitiveness and creativity.

Vietnam is expecting more billionaires from technology with the breakthrough in intelligence and brainpower of Vietnamese people. Up to now, two businesses called technology unicorns in Vietnam are VNG and VNPay, have owned the value of $1 billion or more and operate in the field of technology. Vietnam needs more new tech unicorns to pave the way for new billionaires from the technology sector. Especially in the context that Vietnam has set many goals for the digital economy by 2030. Notably, the growth of technology wealth has taken place rapidly around the world, creating a great inspiration for the world's startups.

For example, people are focusing on a Vietnamese startup named Sky Mavis, when this company reached a market capitalization of $2.4 billion after 3 years of establishment. This startup, whose blockchain game Axie Infinity has set a record in the Asian tech world. As one of the founders, Sky Mavis CEO Nguyen Thanh Trung can become Vietnam's first tech billionaire at the age of 29.

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