Vietnam’s richest man Pham Nhat Vuong tops $32B net worth, overtaking Xiaomi’s Lei Jun

By Hien Nguyen January 7, 2026 | 09:39 pm PT

Pham Nhat Vuong, chairman of Vingroup, attends Vingroup’s annual meeting in Hanoi, Vietnam, April 25, 2024. Photo by Reuters

Pham Nhat Vuong, Vietnam’s richest and Southeast Asia’s second-wealthiest billionaire, now has a net worth of US$32.3 billion, surpassing tech giant Xiaomi’s founder Lei Jun on Forbes’ real-time rankings.

Vuong’s net worth rose $1.8 billion on Wednesday, according to the U.S. magazine, after shares of his conglomerate Vingroup (VIC) climbed 3.4%.

Two listed units of the group also posted strong gains, with property developer Vinhomes rising 5.4% and retail arm Vincom Retail up by 1.31%.

Vuong, who is the group’s chairman, now ranks 65th globally while Lei sits at 73rd with $30.2 billion.

Pham Nhat Vuong's net worth and global ranking on Forbes' real-time list as of Jan. 7, 2025.

The Vietnamese tycoon earlier surpassed another high-profile tech billionaire, Jack Ma, toward the end of last year.

Forbes estimates net worth based on an individual’s shareholdings and assets such as property, art and yachts.

Vuong, 57, owns 10.05% of Vingroup and, together with family members, controls about 65% of the conglomerate. He also holds close to a 50% stake in electric vehicle maker VinFast through two private companies.

The magazine first listed Vuong as a billionaire in 2013, ranking him 974th with a fortune of $1.5 billion. His wealth has since expanded more than twentyfold, trailing only that of Indonesian tycoon Prajogo Pangestu in Southeast Asia. Vuong added $23.9 billion to his net worth in 2025 alone.

Lei, 56, is currently the chairman and chief executive of Hong Kong-listed Xiaomi, a global smartphone giant that has also been pushing into the electric vehicle sector.