Pham Nhat Vuong, owner of real estate conglomerate Vingroup and Vietnam's first billionaire, has earned a place on the list of the world's richest people as compiled by Forbes magazine.

The magazine ranks him in 296th place with a net worth of US$6.1 billion.

Vuong is placed behind three foreign billionaires, including Acharya Balkrishna (India), Wei Jianjun (China), and Yao Liangsong (China), who are all of equal wealth to him.

According to Forbes, Pham Nhat Vuong studied in Russia and started a popular instant noodle business in Ukraine in the 1990s before moving back to his home country.

“He turned some investments into non-profit ventures, including some in healthcare, education and sports. He also built a center of contemporary art,” says the magazine.

Vuong is the chairman of Vingroup, one of Vietnam's largest conglomerates with interests in real estate, retail, and healthcare, among others.

VOV