Pham Nhat Vuong Joins Elite Club of Billionaires to Become One of the Wealthiest In the World

On Tuesday, the day after VinFast shares were first listed on the US stock exchange, billionaire Pham Nhat Vuong surged into the top 50 richest people in the world. Unfortunately, Vuong's position has been subject to the volatile nature of the VFS stock, resulting in rapid changes.

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The assets and position of the Vietnamese billionaire are subject to frequent fluctuations, unlike those of other billionaires which tend to remain stable and unchanged over time. For further information on this Vietnamese billionaire, please refer to our article here: Vietnamese billionaire.

According to Forbes, the fortune of billionaire Pham Nhat Vuong, who ranks among the top 50 richest people in the world, has experienced a significant decrease. His wealth has dropped by an additional $300 million compared to earlier in the day.

According to Forbes, Pham Nhat Vuong, a billionaire, holds a rank of 35th among the world’s richest individuals due to his substantial assets.

Mr. Vuong was ranked 33rd on August 17, with assets valued at $37.5 billion USD.

According to Forbes, billionaire Pham Nhat Vuong continues to hold a higher position than MacKenzie Scott, who was previously ranked as the most powerful woman in the world, surpassing even German Chancellor Angela Merkel.

Billionaire Pham Nhat Vuong (Briefly) One of the Richest People in the World
Photo: Forbes

However, Vuong has dropped three positions compared to billionaire Li Ka-Shing, a renowned businessman from Hong Kong, whose fortune stands at 37.5 billion USD as of August 17.

Vuong remains the wealthiest individual in Southeast Asia. Forbes reports that the region hosts 11 individuals boasting a net worth of 10 billion USD or above. Thailand and Singapore both boast billionaires with a fortune of 14 billion USD, whereas Malaysia’s richest individual has accumulated 11 billion USD.

Within the Asian region, Vuong holds the fifth position amongst esteemed billionaires. He follows the Indian businessman Mukesh Ambani, who possesses an impressive fortune of $92 billion, and Gautam Adani, who holds a notable wealth of $53 billion. Additionally, he trails behind China’s most affluent individuals, namely Zhong Shanshan, the influential founder and chairperson of Nongfu Spring beverage company, and Zhang Yiming, the visionary founder of the Tiktok platform.

Ranking of Pham Nhat Vuong among World’s Richest at 16th Place

According to Forbes, billionaire Pham Nhat Vuong’s fortune experienced a significant surge on the evening of August 16 in Vietnam, reaching $84 billion. This marked a significant increase from the $5.9 billion recorded earlier in the day. However, due to a subsequent decline in VinFast shares on the US stock market, Vuong’s assets subsequently decreased to $74 billion.

Pham Nhat Vuong, with his immense wealth, holds the 16th spot on Forbes’ prestigious list of the world’s wealthiest individuals, making him the second richest person in Asia. Notably, he has outshined the billionaire heir to Walmart, Jim Walton.

Forbes has bestowed an unexpected rating upon VinFast, following the successful closure of its shares above the $37 threshold during its debut trading session on the US stock market on August 15. With a staggering market capitalization of $85 billion, VinFast has surpassed renowned car manufacturers like Ford and General Motors. This achievement has secured its position as the world’s third-largest electric vehicle manufacturer, trailing behind only Tesla and BYD.

Billionaire Pham Nhat Vuong (Briefly) One of the Richest People in the World
Photo: Bao Thanh Nien

According to Bloomberg’s recent assessment, Pham Nhat Vuong has significantly increased his wealth and now holds an estimated net worth ranging from $39 billion to $44.3 billion. As a result, he has ascended to the ranks of the top 30 wealthiest individuals in the world.

The assets of Vuong are valued at over $44 billion, a consensus reached by both organizations.

Vuong’s assets are experiencing a downward trend as VinFast shares have dropped by 25% in the second session on Nasdaq and are continuing to decline prior to the third session on this particular market.

VinFast’s stock experienced a significant surge followed by a sharp decline in recent hours and this trend may persist in the near future. The discrepancy between the available shares for trading and the total outstanding shares, combined with a high demand, has resulted in a notable increase in price.

Charlotte Pho