Vietnam’s richest man Pham Nhat Vuong increases energy firm stake with $400M worth of Vingroup shares

By Trong Hieu October 6, 2025 | 12:12 am PT

Vietnam’s richest man Pham Nhat Vuong plans to increase his stake in his closely held company VinEnergo Energy in the form of 60 million Vingroup shares valued at around VND10.6 trillion (US$402 million).

The acquisition transaction, scheduled to be completed between Oct. 9 and Nov. 7, will decrease his ownership in Vietnam’s largest private company, Vingroup, from 11.59% to 10.04%, while VinEnergo's ownership will increase to 4.27%.

Vuong owned 51% of VinEnergo as of July. It is unclear how the figure will change after the transaction. Vuong’s sons Pham Nhat Quan Anh and Pham Nhat Minh Hoang each owns a 5% stake in VinEnergo.

An artist's impression of Hai Phong LNG Power Plant, developed by Vingroup and VinEnergo. Photo courtesy of Vingroup

Vuong had earlier contributed 105.7 million Vingroup shares to VinEnergo as capital. The billionaire and his family own more than 65% of Vingroup. Its shares closed last week at VND176,500 after gains of 335% this year.

VinEnergo was established in March this year to operate mainly in electricity generation and electrical equipment manufacturing as Vingroup expanded into energy and infrastructure.

Speaking at Vingroup’s annual general meeting, Vuong said the company entered the energy sector to build a green ecosystem where electric vehicles use environment-friendly electricity.

On Sep. 26 a Vingroup–VinEnergo venture began work on the Hai Phong LNG thermal power plant at a cost of VND178 trillion.