Hanoi, Vietnam – Vietnam’s billionaire class is riding a powerful wave of market momentum. According to Forbes, the combined wealth of the country’s five richest individuals surged by more than US$2 billion in August, reaching a total of $23.3 billion. The growth reflects a bullish period for Vietnam’s stock market, where robust gains across key sectors significantly boosted the fortunes of the nation’s top business leaders.
Leading the pack is Pham Nhat Vuong, the founder and chairman of Vingroup and general director of electric vehicle manufacturer VinFast. Vuong’s net worth climbed by $1.1 billion in August to $13 billion, consolidating his position as Vietnam’s wealthiest person and ranking him 210th globally. His wealth increase was fueled by a 22.5% jump in VIC shares, which closed the month at VND128,300. Vuong and his family control roughly 65% of Vingroup and nearly half of VinFast’s capital through private entities.
Nguyen Thi Phuong Thao, chairwoman of Vietjet and Sovico Group and vice chairwoman of HDBank, maintained her position as Vietnam’s second-richest individual. Her fortune rose by $500 million to $3.7 billion, thanks to strong performances by Vietjet and HDBank stocks, which soared by 19.2% and 26%, respectively. Thao’s holdings include 47.7 million VJC shares along with significant stakes in her companies through private firms.
Other prominent names also saw substantial gains. Tran Dinh Long, chairman of Hoa Phat, and Ho Hung Anh, chairman of Techcombank, each added $200 million to their net worth, bringing their totals to $2.8 billion and $2.6 billion, respectively. Meanwhile, Nguyen Dang Quang, chairman of Masan Group, grew his wealth by $100 million to $1.1 billion.
Vietnam’s stock market played a pivotal role in driving these gains. The VN-Index rose by 12% in August to close at 1,682 points, supported by strong investor liquidity averaging VND47,600 billion. The VN30 group — which includes high-cap stocks such as VIC, VHM, VJC, HDB, HPG, MSN, and TCB — attracted substantial capital inflows, contributing to the billionaires’ rising fortunes.
Analysts believe the upward trajectory could continue in the months ahead. La Giang Trung, CEO of Passion Investment, noted that robust cash flow and the potential for U.S. Federal Reserve interest rate cuts in the second half of the year are likely to sustain market momentum. If these factors persist, Vietnam’s billionaire class may see their wealth rise even further, cementing the country’s status as one of Southeast Asia’s most dynamic investment destinations.
