Vietnam's 3rd USD billionaire officially appeared

Mr. Bui Thanh Nhon is considered the third USD billionaire in Vietnam, after Mr. Pham Nhat Vuong, chairman of Vingroup real estate and Mr. Trinh Van Quyet, chairman of FLC Group.

Yesterday (December 28), Ho Chi Minh City Stock Exchange (HOSE) officially listed nearly 590 million NVL shares of Novaland Group with a reference price of VND50,000/share.

This stock quickly hit the ceiling price of 60,000 VND/share (+20%), equal to the previous trading price on the free market. On the morning of December 29, NVL reached 61,500 VND/share.

With this price, Novaland has a capitalization of more than 35 trillion VND, equivalent to nearly 1.6 billion USD, higher than the 1.2 billion USD that foreign investors had previously determined and bought.

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. The number of shares held by Mr. Nhon's family was worth more than 23.4 trillion VND, equivalent to more than 1 billion USD.

Mr. Pham Nhat Vuong and Mr. Bui Thanh Nhon, 2 real estate tycoons in Vietnam.

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 HPG Group).

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.

Mr. Trinh Van Quyet is currently the richest person on the Vietnamese stock market. As of the end of 2016, Mr. Quyet owned nearly 290 million ROS shares, more than 114 million FLC shares... worth a total of more than 33 trillion VND (equivalent to 1.5 billion USD).

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 I Veterinary Supplies Company, Ho Chi Minh City. Mr. Nhon then started a veterinary medicine business. He entered the real estate market in 2007.

According to Vietnamnet