Top 10 Richest Persons in Vietnam by Stock Exchange and Forbes (Update)

How Many Billionaires Are There in Vietnam 2023 - Top 6 Richest Vietnamese

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After an extremely difficult 2022, the Vietnamese stock market has recovered in 2023.

The VN-Index ended the last trading session of 2023 at 1,130 points, up 12.2% from the end of 2022.

However, according to statistics from the Vietnamese press, the total assets of the 10 richest people on the stock exchange in 2023 will fall from around 290 trillion VND (about 12 billion USD) to 259 thousand billion VND (about 10.6 billion USD).

When compared to 2022, the top ten richest people in 2023 have two changes: Ms. Pham Thu Huong and Mr. Ho Xuan Nang have given up their positions to Mr. Truong Gia Binh and Mr. Nguyen Van Dat.

Top 10 Richest Persons in the Vietnam Stock Exchange

The following are the top ten richest people on the Vietnam stock exchange in 2023/2024:

The Richest People in Vietnam 2023/2024

1. Pham Nhat Vuong (Vin Group, Vinfast): $3.8 Billion

Pham Nhat Vuong, the richest person on the Vietnam stock exchange, maintains his position. Mr. Vuong, on the other hand, was the person who lost the most money for the second year in a row. In the context of falling VIC stock prices, the Chairman of Vingroup's assets have decreased by approximately 21,900 billion VND over the past year, down to 92,800 billion VND ($3,8 Billion).

Pham Nhat Vuong - the Richest People In Vietnam

Furthermore, Mr. Vuong's holdings of VIC shares decreased by nearly 51 million units after he used these shares to contribute capital to the establishment of the GSM electric taxi company. The implementation of GSM has solved many problems for VinFast, including promoting electric vehicles to people, generating revenue, and contributing to the transformation of the taxi market.

Mr. Vuong's VinFast was officially successfully listed on the US Nasdaq exchange last year, with a current valuation of approximately $20 billion.

2. Tran Dinh Long (Hoa Phat Steel): $1.72 billion

Hoa Phat's HPG stock price increased 1.5 times last year, propelling billionaire Tran Dinh Long back to the top of the rich list with assets worth nearly 42,000 billion VND ($1.72 billion).

Although the real estate market has not improved significantly in the last year, Hoa Phat's steel consumption began to rise toward the end of the year. After 11 months, the company had sold 6 million tons of crude steel and 5.96 million tons of steel products.

Tran Dinh Long (Hoa Phat Steel)

Mr. Long's Hoa Phat is currently focused on building the Hoa Phat Dung Quat 2 Iron and Steel Production Complex in Quang Ngai, which has a design capacity of 5.6 million tons of hot rolled steel per year. Hoa Phat's annual crude steel production capacity is expected to exceed 14 million tons when the project is completed in early 2025, equivalent to the top 30 largest steel enterprises in the world.

3. Nguyen Thi Phuong Thao (VietJet Air): $1.15 billion

Nguyen Thi Phuong Thao (VietJet Air)

Nguyen Thi Phuong Thao's assets remain nearly unchanged in 2023, at nearly VND 28,000 billion ($1.15 billion).

The aviation industry has recovered significantly in the last year, particularly the international market. According to statistics, Vietnam received 23.7 million international visitors after 9 months, an increase of nearly 267%. Vietnamese airlines transported 11.5 million passengers, with Vietjet accounting for more than 51% of the total with 5.9 million passengers.

During the US President's official visit to Vietnam, Vietjet signed an agreement with Boeing to deliver 200 737 MAX aircraft worth $25 billion USD over the next five years, as well as an agreement with Carlyle Group to sponsor aircraft worth 550 million USD.

4. Do Anh Tuan (Sunshine): Nearly $1 billion

Mr. Do Anh Tuan's assets have dropped from second place last year to fourth place this year, totaling 23,207 billion VND (nearly $1 billion). Mr. Tuan's assets decreased primarily because the KSF stock price dropped by 42% last year and the SSH stock price dropped by nearly 10%.

5 and 6. Ho Hung Anh (Techcombank) and Do Dang Quang (Masan)

Ho Hung Anh's (Techcombank) and Nguyen Dang Quang's (Masan) assets fell by VND 7,600 billion and VND 7,900 billion, respectively, in 2023.

Although Techcombank's TCB shares increased in value last year, Masan's MSN shares dropped by up to 28%. Mr. Nguyen Dang Quang's assets have decreased, and he is no longer on Forbes' list of dollar billionaires, whereas Mr. Ho Hung Anh is still listed as owning approximately 1.3 billion USD.

According to Masan's report, WinCommerce reached a break-even EBIT margin in Q3/2023 and is on track to generate profits soon, for the first time since the Covid-19 period. Masan continues to build mini supermarkets (WinMart+) and supermarkets (WinMart), and is renovating stores to boost sales.

7. Bui Thanh Nhon (Novaland)

Mr. Bui Thanh Nhon's assets increased by about 2,000 billion VND in 2023, keeping him as Vietnam's seventh richest person.

Novaland will receive significant assistance from ministries, departments, and branches in 2023 to address project challenges. The company also made numerous financial restructuring efforts, such as buying back bonds before maturity, extending bond debt, and locating strategic investors to issue shares...

In terms of financial results, Novaland only lost nearly 1,100 billion VND in the first half of 2023. However, the company returned to profitability in the third quarter.

8. Vu Thi Hien (Hoa Phat Steel)

Ms. Vu Thi Hien's assets increased by 3,500 billion VND in 2023, matching the increase of her husband, billionaire Tran Dinh Long, moving her up one place in the rankings. Mr. Long and Ms. Hien transferred approximately 43 million 'odd' shares to their son, Tran Vu Minh, during the year in order to keep the 'round' shares. As a result, Mr. Long currently owns 1.5 billion HPG shares, while Ms. Hien owns 400 million.

9. Truong Gia Binh (FPT)

Mr. Truong Gia Binh was once the richest person on the Vietnamese stock exchange when FPT Corporation was listed, and he remained in the top ten until 2008. In the years since, FPT has slightly declined, and Binh's assets have grown more slowly than those of other billionaires.

After 14 years, the Chairman of FPT Group has re-entered the top ten with assets worth more than VND 8,500 billion at the end of 2023.

Truong Gia Binh - FPT

FPT stock price has risen as a result of the company's recent return to the 'core' of technology, which has resulted in continuous double-digit growth in both revenue and profit. FPT recently announced that it had reached the 1 billion USD revenue milestone from foreign markets in 2023. After 11 months, the group's after-tax profit was nearly 7,300 billion VND, an increase of more than 18% over the previous period.

10. Nguyen Van Dat (Phat Dat Land)

Mr. Nguyen Van Dat, Chairman of Phat Dat, has the highest asset fluctuation rate among the top 10, with an increase of more than 100%. PDR shares recovered strongly in 2023 after a series of sell-offs at the end of 2022.

Stocks were continuously sold off when the company was in debt, but after only one year, Phat Dat announced that it had paid off all bond debt. This is impressive because most real estate companies in the market are incapable of doing so.

Top 5 Richest Vietnamese Billionaires in Forbes List

The five richest Vietnamese people are Pham Nhat Vuong, Nguyen Thi Phuong Thao, Tran Dinh Long, Ho Hung Anh, and Tran Ba Duong, according to the Forbes World's Billionaires list for 2023.

The 54-year-old Pham Nhat Vuong is the proprietor of Vingroup, the biggest private corporation in Vietnam. With a net worth of US$4.4 billion, he is still the richest man in the country and the first billionaire of the nation, ranking 628 in the world.

Nguyen Thi Phuong Thao, 52, who is the CEO of VietJet Air and the co-founder and chairperson of Sovico Holdings, one of the nation's top investment groups, comes after Vuong.

Her estimated net worth puts her at the 1385th richest person in the world, with US$2.1 billion.

With a net worth of US$1.9 billion, 62-year-old Tran Dinh Long, the founder and chairman of the steel company Hoa Phat Corp, was placed 1565th on the list.

The 52-year-old chairman of Techcombank, Ho Hung Anh, is ranked 2281st on the list with a net worth of US$1.2 billion.

With a US$1.4 billion net worth, Tran Ba Duong, 63, is rated 1943rd in the exclusive group of billionaires. In 1997, Duong established Truong Hai (Thaco), a car dealership that eventually began producing vehicles for international manufacturers like Kia, Mazda, and Peugeot.

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