In the morning trading session on April 21, shares tied to the Vingroup ecosystem surged sharply, becoming the focal point of the stock market. Notably, Vingroup (VIC) and Vinhomes (VHM) both reached new all-time highs, significantly boosting Vuong’s net worth.

According to the latest updates, his fortune climbed to US$31.7 billion during the morning session, placing him 70th globally and firmly at the top in Southeast Asia. By the end of the day, his wealth edged up further to US$31.9 billion, marking a new milestone in his financial ascent.

Over the past month, the increase has been particularly striking. Between March 20 and April 21, Vuong’s assets grew by approximately US$10 billion - a pace rarely seen even among global billionaires. This surge has been driven largely by the strong performance of VIC shares and growing market optimism surrounding Vingroup’s expanding ecosystem.

However, when viewed over a longer period, the growth appears more moderate. At the end of 2025, Vuong’s wealth stood at around US$30 billion, ranking him 72nd globally. After nearly four months, his total assets have increased by roughly US$1.9 billion.

Compared to Vuong, other Vietnamese billionaires have seen relatively modest changes. Tran Dinh Long, chairman of Hoa Phat Group, recorded an increase of about US$200 million, bringing his net worth to US$2.9 billion. Meanwhile, Ho Hung Anh and Nguyen Dang Quang remained largely unchanged at US$2.3 billion and US$1.1 billion, respectively.

In contrast, Nguyen Thi Phuong Thao saw her wealth decline from US$4.9 billion to US$4.1 billion, resulting in a drop in her global ranking.

The most notable development, however, is the emergence of three new Vietnamese billionaires.

For the first time, two female executives within the Vingroup ecosystem - Pham Thu Huong and Pham Thuy Hang - alongside Ngo Chi Dung, have been recognized by Forbes as US-dollar billionaires. Their inclusion marks a significant milestone, underscoring both the expanding influence of major conglomerates and the increasingly prominent role of women in Vietnam’s business community.

As of April 21, Pham Thu Huong holds an estimated US$3.4 billion in assets. Pham Thuy Hang follows with US$2.4 billion, while Ngo Chi Dung has reached US$1.1 billion. All three have seen substantial gains compared to March, when the global billionaire list was last published.

Their addition brings Vietnam’s total number of US-dollar billionaires to eight, including Pham Nhat Vuong, Nguyen Thi Phuong Thao, Tran Dinh Long, Ho Hung Anh, Nguyen Dang Quang, Pham Thu Huong, Pham Thuy Hang and Ngo Chi Dung. The figure reflects the growing strength of the country’s private sector.

Behind the surge in wealth among Vuong and his associates is the remarkable performance of Vingroup shares. Over the past year, VIC stock has increased roughly tenfold, rising from around VND40,000 per share (US$1.60) to nearly VND400,000 (US$16.00), before adjustments. This has been a key driver of the rapid expansion in the fortunes of major shareholders.

Market expectations surrounding a series of large-scale projects have also played an important role.

Beyond corporate factors, policy developments have contributed to the momentum. Resolution 68-NQ/TW, issued by the Politburo in May 2025, identifies the private sector as one of the most important drivers of the national economy. Supportive mechanisms in credit, land access and the broader business environment have created more favorable conditions for large enterprises to expand.

In this context, the rising wealth of Vietnam’s billionaires not only reflects individual success but also signals a broader transformation of the private sector - an increasingly vital pillar of the country’s economic growth.

Manh Ha