According to Vingroup (VIC), Pham Nhat Vuong, Chairman of Vingroup and VinEnergo JSC, has announced a major share transaction.

From October 9 to November 7, Vuong will transfer over 60 million VIC shares, worth approximately USD 415 million, to VinEnergo.

After the deal, his holdings will drop from 449.9 million shares (11.59% ownership) to 389.9 million shares (10.04%).

VinEnergo will then own 165.7 million VIC shares, equivalent to a 4.27% stake.

Earlier in June, Vuong contributed 70.6 million VIC shares to VinEnergo.

In July, he added another 78.5 million shares - worth around USD 328 million - to VinSpeed, the company established to invest in the North-South high-speed railway project.

Before that, he transferred more than 48 million VIC shares to VinSpeed, bringing the company’s total holdings to over 135.6 million shares, equivalent to 3.5% of Vingroup’s charter capital. VinSpeed is currently recruiting staff for the Ho Chi Minh City–Can Gio and Hanoi–Quang Ninh high-speed rail projects.

VinEnergo is the investor behind the Hai Phong LNG Thermal Power Plant Project.

Pham Nhat Vuong’s net worth has soared recently, climbing from USD 4.1 billion earlier this year to USD 16.8 billion as of October 4, according to Forbes. The surge is fueled by Vingroup’s share price jumping fourfold - from VND 40,000 to VND 176,500 (USD 1.56 to USD 6.90) per share.

On September 26, Vingroup officially broke ground on the Tan Trao Industrial Park Infrastructure Development Project (Phase 1), covering nearly 227 hectares in Nghi Duong, Hai Phong, with an investment of over USD 156 million. The group also commenced construction on Vietnam’s largest LNG thermal power plant, the Hai Phong LNG Power Plant, with a capacity of 4,800 MW - one of the largest in the world.

The Hai Phong LNG Thermal Power Plant, located within the Tan Trao Industrial Park, is jointly invested by Vingroup and VinEnergo. The project spans nearly 100 hectares with a total investment exceeding USD 6.7 billion. Once operational by the end of 2030, it will generate about 9.6 billion kWh annually in Phase 1 and 19.2 billion kWh in Phase 2.

Pham Nhat Vuong remains Vietnam’s richest businessman, ranking 145th globally with a net worth of USD 16.8 billion. He now surpasses Thai tycoon Dhanin Chearavanont (Chairman of CP Group), former U.S. President Donald Trump, and Samsung Chairman Lee Jae-Yong.

Vingroup’s market capitalization has soared past VND 680 trillion (USD 26.6 billion), making it Vietnam’s most valuable listed company, far ahead of Vietcombank, BIDV, and VietinBank.

The surge also made Vuong’s wife, Pham Thu Huong, Vietnam’s second female billionaire. Her stake in VIC is now worth more than VND 30.1 trillion (USD 1.14 billion) as of October 4.

With this, she becomes the seventh U.S. dollar billionaire in Vietnam’s stock market and the country’s second female billionaire, alongside Tran Dinh Long (Hoa Phat Group), Do Anh Tuan (Sunshine Group), Nguyen Thi Phuong Thao (VietJet and HDBank), Ho Hung Anh (Techcombank), and Nguyen Dang Quang (Masan).

Forbes has not yet included Pham Thu Huong in its global billionaire rankings.

Manh Ha