In early September 2016, the stock market was stirred up by the news that Trinh Van Quyet, 41, unexpectedly became the second richest stock millionaire.

Quyet’s assets soared from several trillions of dong to VND15 trillion after ROS, a construction firm, which implements most of the real estate projects developed by FLC Group, put 430 million shares into transactions on the bourse.

Quyet, chair of FLC, is the businessman who takes over ROS and turns ROS from an unknown company into a well-known one. 

With 180 million ROS shares and the ROS share price increases in a succession of days, from VND10,500 per share to VND50,000 per share,

Quyet has outstripped Tran Dinh Long, president of Hoa Phat Group, to become the second richest stock millionaire.

New names have appeared on the list of the 10 richest Vietnamese billionaires, and most of them are young, while veterans have fallen out of the list.

Quyet is a lawyer, who started his business when he was a university student. His prosperity is associated with the real estate market boom and stock market development.

Like Quyet, Do Huu Ha, chair of Hoang Huy Investment & Service JSC, has made an impressive jump to the sixth position from the 30th after putting more Hoang Huy shares into transactions on the bourse. Holding 42 percent of the company’s capital, Ha has seen his stock assets increase by trillions of dong.

In 2014, the Vietnamese stock market saw many veteran billionaires dislodged from their positions by emerging businessmen. 

Just some months after listing shares on the bourse, Nguyen Duc Tai, 47, is one of top 10 stock millionaires, staying above famous names such as Truong Gia Binh (president of FPT, a technology firm), Ho Hung Anh, Tran Kim Thanh and Dang Thanh Tam.

MWG shares held by the businessman have seen prices skyrocketing to VND180,000 per share.

The continued price increase of MWG shares has helped the founders of The Gioi Di Dong, a mobile phone distribution chain, be added onto the list of the richest stock millionaires. 

While Tai stands in the seventh position, Tran Le Quan, another shareholder, has jumped to the 10th position.

The explosive growth of Vinh Hoan Seafood has put its president Truong Le Khanh into the eighth position with stock assets worth VND2.6 trillion.

Meanwhile, famous names have fallen out of the top 10 stock millionaires. Doan Nguyen Duc, president of Hoang Anh Gia Lai Group, who topped the 2008 and 2009 lists of richest stock millionaires, has fallen to the 12th position. Dang Thanh Tam, who topped the 2007 list, is now 18th.

H.Tu