Mr. Pham Nhat Vuong joins the group of 300 richest people in the world for the first time
With his assets increasing to 6.1 billion USD, Mr. Pham Nhat Vuong, Chairman of the Board of Directors of Vingroup Corporation, became the first Vietnamese billionaire to join the list of 300 richest people in the world.
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| With converted assets reaching over 138,000 billion VND, Mr. Pham Nhat Vuong, Chairman of the Board of Directors of Vingroup Corporation, has entered the list of 300 richest billionaires in the world. |
According to the latest update from Forbes Magazine, the net worth of Mr. Pham Nhat Vuong, Chairman of the Board of Directors of Vingroup Corporation (VIC), has reached 6.1 billion USD, an increase of 1.8 billion USD compared to the ranking that this magazine announced in early 2018.
With a converted asset of over 138,000 billion VND, Mr. Vuong has now entered the list of 300 richest billionaires in the world. He ranked 298th, after Chinese billionaire Yao Liangsong with a slightly higher asset.
This is the first time a Vietnamese billionaire has entered the top 300 richest people in the world.
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| For the first time, a Vietnamese billionaire has joined the group of 300 richest people in the world. Source:Forbes. |
The recent increase in Mr. Vuong's net worth mainly comes from the strong increase in Vingroup Corporation (VIC) shares as this stock continuously breaks historical peaks. Currently, VIC shares are traded at 113,600 VND/share, a 45% increase in market price compared to the beginning of 2018.
The market value of the VIC shares that Mr. Vuong holds alone is more than VND82,000 billion, approximately USD3.62 billion, equivalent to 60% of total net assets according to Forbes statistics.
In just a short time, other Vietnamese billionaires have also earned hundreds of millions of dollars from stock price fluctuations. Specifically, compared to the valuation at the beginning of 2018, the net worth of Ms. Nguyen Thi Phuong Thao, CEO of Vietjet Air, has increased by 400 million USD to 3.5 billion USD and ranked 766th in the world.
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| Current net worth of 4 Vietnamese USD billionaires. Source:Forbes. |
The two remaining Vietnamese manufacturing billionaires are Mr. Tran Ba Duong, Chairman of Thaco Truong Hai, and Mr. Tran Dinh Long, Chairman of Hoa Phat Group, with net assets of 1.8 billion USD and 1.3 billion USD, respectively.
During today's trading session (March 27), Vingroup's capitalization surpassed Vinamilk's at one point when the corporation's shares reached over VND117,000/share, pushing the company's capitalization to nearly VND309,000 billion, approximately USD13.6 billion.
However, at the end of the trading session, VIC shares decreased slightly by 0.7% to VND 113,000/share, equivalent to a company capitalization of VND 300,171 billion, ranking second after Vinamilk in terms of capitalization on the stock market.
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