Pham Nhat Vuong remains Vietnam’s wealthiest person: Forbes
Vietnam has six billionaires on the Forbes list with five men and one woman
Following the swings when VinFast launched shares on the US stock exchange, both Forbes and Bloomberg accurately evaluated billionaire Pham Nhat Vuong's holdings.
On the morning of August 17, Forbes changed the number of assets of the richest billionaire in Vietnam, Pham Nhat Vuong.
Accordingly, instead of the figure of $ 84 billion and ranked 16th in the world last night (Vietnam time), Forbes adjusted billionaire Pham Nhat Vuong's fortune to more than $ 44 billion.
This number is quite similar to the previous assessment of Bloomberg.
In particular, according to Bloomberg, Mr. Pham Nhat Vuong has more than 39 billion USD to 44.3 billion USD and has risen to the top 30 richest people in the world after VinFast electric car company was listed on the US stock market on August 15 with a closing price of more than 37 USD/cp and a market capitalization of more than 85 billion USD.
Thus, the figure of more than $44 billion given by the two most prestigious organizations today is quite close to each other.
In the trading session of August 16, VinFast shares dropped sharply under the pressure of profit-taking when this stock reached a very high price in the first trading session. At the end of the trading session on August 16 on the US stock exchange (in the morning of August 17, Vietnam time), VFS shares still fell by nearly 19% compared to the closing price of the first session at Nasdaq to 30.1 USD/cp. At this level, the market capitalization of VinFast is more than 69 billion USD, down 16 billion USD compared to the listing session.
Forbes reports that Pham Nhat Vuong's assets have dropped from their prior estimation (more than 44 billion USD) to 37.5 billion USD, a fall of more than 15.8%. With this level, Vuong surpasses MacKenzie Scott, the ex-wife of billionaire Jeff Bezos, who is currently ranked 36th on the list of the world's wealthiest people. Scott once outranked German Chancellor Angela Merkel to become the first woman to appear on Forbes' list of the world's most powerful women.
And also, with 33rd place, Mr. Pham Nhat Vuong has the same fortune as billionaire Li Ka-Shing (Ly Gia Thanh), a famous businessman from Hong Kong and one of the richest billionaires in Asia with assets as of August 17 were the same at $37.5 billion.
Pham Nhat Vuong also outperformed Tadashi Yanai, the founder of Uniqlo, and Ma Hoa Dang, the CEO of Tencent.
Richest in Southeast Asia
This is the highest spot a Vietnamese billionaire has ever attained on Forbes' list of the world's billionaires. Additionally, millionaire Vuong surpassed Mukesh Ambani ($91 billion), Zhong Shanshan ($62 billion), Gautam Adani ($53 billion), and Zhang Yiming ($45 billion) to become the richest person in Southeast Asia and the fifth-richest person in all of Asia.
Before that, R.Budi Hartono, an Indonesian billionaire with a net worth of $26 billion, was the wealthiest individual in Southeast Asia.
Mr. Pham Nhat Vuong first entered the Forbes Billionaires list in 2013, with a fortune of 1.5 billion USD, ranked 974th. From 2021 to 2022, the highest level of assets he recorded was nearly 8 billion USD.
Last night, August 16 (Vietnam time), at about 19-22 hours, Forbes Forbes updated Mr. Pham Nhat Vuong's assets at $74-84 billion, much higher than $5.9 billion half a day earlier. With this level of wealth, Mr. Pham Nhat Vuong ranks 16th in Forbes' list of the richest people on the planet and 2nd richest in Asia. At that point, Pham Nhat Vuong, the heir of Walmart, officially overtook Jim Walton as the richest person in the world.
Billionaire Vuong's fortune increased sharply, mainly thanks to VinFast. Le Thi Thu Thuy, the CEO of VinFast, stated that the company's $85 billion valuation on the US stock market is unfathomable, although she and other top VinFast executives think the $23 billion valuation is reasonable and that VinFast's worth will continue to rise.
According to published data, VinFast forecasts sales will reach 45,000 to 50,000 units in 2023 and said it could produce electric pickup trucks, mini electric cars and other models if the market has demand. With an investment of $2 billion, VinFast has begun construction on the first phase of an electric vehicle manufacturing in Chatham County, North Carolina, marking a major development in the company's market expansion strategy.
Mr. Vuong recently pledged money to VinFast from a source that will add $1 billion. VinFast delivered 11,143 electric vehicles to clients in Vietnam during the first half of 2023. Besides VinFast, Vingroup is still the number 1 enterprise in Vietnam's real estate segment, with the Vinhomes brand. According to market capitalization, Vinhomes (VHM) is now the biggest company listed on the Vietnamese stock market.
The second richest person in Vietnam is billionaire Tran Dinh Long with a fortune of 2.4 billion USD.
Nguyen Thi Phuong Thao, a billionaire, has a net worth of $2.2 billion as of August 16. Thaco Chairman Tran Ba Duong and his family own a fortune of 1.5 billion USD. Mr. Ho Hung Anh has $ 1.6 billion, and Mr. Nguyen Dang Quang has $ 1.2 billion.
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