Vietnamese billionaires add $2B to their wealth in August

By Trong Hieu August 31, 2025 | 05:00 am PT

The 5 Vietnamese billionaires in the global list by Forbes: (Top, from L) Techcombank chairman Ho Hung Anh, Masan chairman Nguyen Dang Quang, Vingroup chairman Pham Nhat Vuong, and (Bottom, from L) Hoa Phat chairman Tran Dinh Long, VietJet Air chairwoman Nguyen Thi Phuong Thao. Graphics by VnExpress/Khanh Hoang

The total assets of Vietnamese billionaires grew by more than US$2 billion in August, with Pham Nhat Vuong maintaining his position as the richest person in the country.

According to Forbes, Vietnam now has five billionaires whose combined assets reach $23.3 billion, marking an increase of over $2 billion since the beginning of July.

The list includes Vingroup founder and chairman Pham Nhat Vuong, Vietjet chairwoman Nguyen Thi Phuong Thao, Hoa Phat chairman Tran Dinh Long, Techcombank chairman Ho Hung Anh and Masan chairman Nguyen Dang Quang.

Lender Vietcombank, which currently has the largest market capitalization on Vietnam's stock market at VND573,200 billion ($21.76 billion), is now smaller than the combined assets of these five billionaires.

Pham Nhat Vuong remains Vietnam’s wealthiest individual with assets worth $13 billion, a rise of $1.1 billion since the start of August. His net worth is nearly three times what it was at the end of last year, making him the 210th wealthiest in the world.

Vuong, 57, is the founder and chairman of Vietnam's largest private conglomerate Vingroup and the general director of EV maker VinFast. His wealth increased due to the strong performance of VIC shares, which saw a 22.5% rise in August, closing at VND128,300 per share on Aug. 29. Vuong owns 450 million VIC shares, or 11.6% of Vingroup's charter capital, though he and his family control about 65% of the company. He also owns nearly half of VinFast's capital through two private companies.

Nguyen Thi Phuong Thao, the second wealthiest person on the list, saw her wealth rise by $500 million, bringing her total assets to $3.7 billion and placing her at 1,061st globally. Thao's net worth grew thanks to strong performances by Vietjet's VJC and HDBank's HDB stocks, which increased by 19.2% and 26%, respectively.

Thao, 55, is the Chairwoman of Vietjet, Sovico Group and Vice Chairwoman of HDBank. She directly owns 47.7 million VJC shares and also holds substantial shares in these companies through private firms.

Hoa Phat chairman Tran Dinh Long and Techcombank chairman Ho Hung Anh both saw their assets rise by $200 million, with Long now having $2.8 billion and Hung Anh $2.6 billion. Masan chairman Nguyen Quang Dang added $100 million, bringing his wealth to $1.1 billion.

Forbes calculates billionaire assets based on the number and value of stocks held at a specific point in time and also ownership in private companies, real estate, art, yachts and other assets.

Vietnam's stock market had a strong performance in August, boosting the wealth of many business leaders. VN-Index rose by 12%, ending Aug. 29 at 1,682 points, up 180 points. Data from the Ho Chi Minh City Stock Exchange (HoSE), which represents 75% of market capitalization, revealed an average liquidity of more than VND47,600 billion.

Dragon Capital reports that investor cash flow is focused on the VN30 group, which includes the 30 most capitalized and liquid stocks on the HoSE. Stocks held by the billionaires, such as VIC, VHM, VJC, HDB, HPG, MSN and TCB, are all part of this group.

Experts predict that the VN-Index will continue to rise in the coming months, which could further increase the fortunes of Vietnam’s billionaires.

La Giang Trung, CEO of Passion Investment, noted that market growth and strong cash flow are key drivers for stock price increases. Additionally, the U.S. Federal Reserve’s potential interest rate cuts in the second half of the year are seen as a positive signal for the market.