Waiting for the new USD billionaire, just behind Mr. Pham Nhat Vuong

- Mr. Bui Thanh Nhon is about to become the second real USD billionaire on the stock market, only behind Mr. Pham Nhat Vuong, chairman of Vingroup real estate.

Vietnam's 2nd USD Billionaire: Quiet and proud

Information from the Ho Chi Minh City Stock Exchange (HOSE) said that on January 28, NVL shares of Novaland Group will list nearly 590 million common shares with a reference price of VND50,000/share, lower than the price of VND60,000 currently traded on the free market.

With this reference price, Novaland will have a capitalization of nearly 30 trillion VND, equivalent to 1.3 billion USD. This capitalization is also nearly equivalent to the 1.2 billion USD that foreign investors have determined. Previously, according to Bloomberg, Novaland sold more than 10% of its shares, worth 120 million USD to 18 foreign investors, earning 120 million USD.

Mr. Pham Nhat Vuong and Mr. Bui Thanh Nhon.

Before going public, Mr. Nhon and his son (Mr. Bui Cao Nhat Quan) and his wife directly and indirectly held more than 65% of Novaland shares. If NVL shares increase in price by 20% in the first session within the allowed range to 60,000 VND/share as on the OTC market, then Mr. Nhon's family's assets calculated by this stock will be up to 23.4 trillion VND, equivalent to more than 1 billion USD.

If counted separately, Mr. Nhon ranks 4th on the stock exchange in terms of wealth, after Mr. Pham Nhat Vuong, Mr. Trinh Van Quyet (chairman of Faros ROS) and Mr. Tran Dinh Long (chairman of Hoa Phat Group HPG). If counting the stocks owned by Mr. Nhon and his family, Mr. Nhon ranks 2nd.

Novaland is also the second largest real estate company on the stock market, just after Vingroup of Mr. Pham Nhat Vuong.

Mr. Vuong currently owns more than 724 million VIC (Vingroup) shares, worth about 1.3 billion USD. According to Forbes, Mr. Vuong is also the only billionaire in Vietnam with a net worth of 2.2 billion USD.

Previously, the Vietnamese stock market also recorded the second USD billionaire, Mr. Trinh Van Quyet, who at one point surpassed Mr. Pham Nhat Vuong with assets reaching a peak of more than 35 trillion VND (more than 1.5 billion USD) in November. However, Mr. Quyet's ROS shares (a construction company) fell sharply and by December, Mr. Quyet had lost his position as the number 1 USD billionaire.

Like Mr. Vuong, Mr. Nhon is the owner of a company that owns a lot of prime land and famous real estate projects. Mr. Nhon is a rather secretive businessman and is a person who has risen in the field of veterinary medicine business.

Mr. Nhon has a bachelor's degree in veterinary medicine and a bachelor's degree in advanced business administration from HSB Tuck School of Business in Germany. Mr. Nhon, 57 years old, used to work at the Department of Agriculture of Nha Be District People's Committee and the Level 1 Veterinary Supplies Company, Ho Chi Minh City. Mr. Nhon then started a business in veterinary medicine. He entered the real estate market in 2007.

According to Vietnamnet