Forbes stated that it was able to compile the list by fully evaluating an individual's assets based on stock prices and exchange rates as of March.

According to this year’s World’s Billionaires list, the seven richest local people are Pham Nhat Vuong, Bui Thanh Nhon, Nguyen Thi Phuong Thao, Tran Dinh Long, Ho Hung Anh, Tran Ba Duong, and Nguyen Dang Quang.

Pham Nhat Vuong, 53, owner of Vingroup, the largest Vietnamese private conglomerate, and the country's first billionaire, is on the list for the 10th consecutive year.

He also remains the nation’s richest man with a net worth of US$6.2 billion, ranking 411th in the world. His total asset value dropped by US$1 billion, resulting in him dropping 67 places in this year’s list.

Vuong first made the list back in 2013 when he was ranked 974th with a net worth of US$1.5 billion.

He is followed by 61-year-old Tran Dinh Long, founder and chairman of steelmaker Hoa Phat Corp, with a net worth of US$3.2 billion, an increase of US$1 billion from last year. Long stands 951st in this year's list, which marks the second time that he has made it into the ranking.

According to the list compiled by Fobres, Nguyen Thi Phuong Thao, 51, has made the list for the sixth time with a net worth of US$3.1 billion, ranking 984th. She is currently CEO of VietJet Air and is also president of Sovico Group, a leading investment group in the country.

Specifically, this marks the first time that Bui Thanh Nhon, chairman of Nova Group, has appeared in the list. Nhon debuts in 1,053th place with a net worth of US$2.9 billion.

Elsewhere, Ho Hung Anh, the 51-year-old chairman of Techcombank, makes the list for the fourth time. His net worth is estimated to be US$2.3 billion, up from US$1.6 billion last year.

Meanwhile, Nguyen Dang Quang, chairman of Masan, 58, appears on the list for the third time with a net worth of US$1.9 billion, while Tran Ba Duong, 62, chairman and founder of Truong Hai Auto Company (Thaco), has a net worth of US$1.6 billion.

Source: VOV