Pham Nhat Vuong Reaches Billionaire Status, Joining the Global Elite

After seeing the stocks of his company, VinFast, firmly listed on the US stock exchange, Billionaire Pham Nhat Vuong shot up into the top 50 richest people in the world. Yet, as volatility in VFS stock continues to shake up the markets, Vuong's position amongst the elite has gone through a series of drastic changes.

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The assets and position of Vietnamese billionaire, Pham Nhat Vuong, are constantly fluctuating compared to other billionaires, according to Forbes. Vuong, who is among the top 50 richest people in the world, experienced a significant decrease in his fortune, down 300 million USD. With his current wealth, Vuong ranks 35th on the Forbes list of the richest people globally, dropping three places from his previous ranking of 33rd. Despite this, he remains the richest man in Southeast Asia and is ranked fifth in Asia overall. On August 16, Vuong briefly secured the 16th position on the world’s wealthiest individuals list following the success of VinFast shares on the US stock market. However, his assets declined to 74 billion USD after a dip in VinFast’s stock. Vuong’s wealth is expected to continue fluctuating due to VinFast’s stock volatility.

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

Vuong’s assets are still higher than those of MacKenzie Scott, who was ranked the most powerful woman in the world by Forbes. He remains the richest man in Southeast Asia, with 11 people in the region having a fortune of 10 billion USD or more. In Asia, Vuong ranks fifth, behind Indian billionaires Mukesh Ambani and Gautam Adani, as well as China’s richest individuals, Zhong Shanshan and Zhang Yiming. The valuation of Vuong’s assets varies between Forbes and Bloomberg, with Bloomberg placing him in the top 30 richest people with more than 44 billion USD in assets. However, with the fluctuating stock price of VinFast, Vuong’s assets are currently on a downward trend.

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

Charlotte Pho