With over US$1 billion, a new Vietnamese billionaire is revealed
The assets of the richest people in Vietnam have risen sharply in recent times. Many tycoons have earned huge recently.
In over a month, NVL shares of Novaland Group jumped 70% from VND80,000 to nearly VND136,000 per share. The sharp increase in stocks increased assets attributed to NVL shares of Mr. Bui Thanh Nhon by over VND12 trillion (over $500 million) to VND29.5 trillion (nearly $1.3 billion).
With this strong breakthrough, Novaland Chairman Bui Thanh Nhon is now among the top three richest people on the Vietnamese stock market, just behind billionaire Pham Nhat Vuong, Vingroup chairman and billionaire Tran Dinh Long, chairman of Hoa Phat Group.
This is only the value of the shares directly owned by Nhon. This tycoon also holds a large amount of shares through other companies. In total, Nhon's family owns about 65% of NVL shares, worth roughly $4 billion.
Although his assets have reached billions of US dollars, Nhon has not been named on the list of the world’s billionaires of the Forbes magazine yet. Nhon, the boss of one of the largest real estate corporates in Vietnam, is quite a secretive person.
Tycoon Nguyen Duc Thuy, the boss of Thaigroup, recently revealed a large fortune after his Thaiholdings was listed and he became a key leader of LienVietPostBank.
Many Vietnamese businesspeople got rich quickly during the pandemic.
After recent great deals and his investment in the financial sector, it is likely that Thuy will become the next USD billionaire in Vietnam.
Currently, with nearly 86 million shares of Thaiholdings (THD) and more than 31.3 million shares of LienVietPostBank (LPB), Thuy's assets are worth VND16.9 trillion.
Thuy is known as the most famous businessman in Ninh Binh. Born in 1976, he used to be very famous in the football field, as the owner of Xuan Thanh Saigon FC. Thuy is also known for successfully acquiring Kim Lien Hotel, which is located on a “golden land plot” in Hanoi’s center.
With the current assets, Thuy is rated after the six USD billionaires of Vietnam, ranked by Forbes - Mr. Pham Nhat Vuong, Mr. Tran Dinh Long, Mrs. Nguyen Thi Phuong Thao (Vietjet Chairwoman), Tran Ba Duong (Truong Hai Group’s Chairman) Mr. Ho Hung Anh (Chairman of Techcombank), Mr. Nguyen Dang Quang (Chairman of Masan Group) and three others - Mr. Bui Thanh Nhon (Novaland Chairman), Ms. Pham Thu Huong (Pham Nhat Vuong’s wife) and Mr. Nguyen Van Dat (Chairman of Phat Dat Real Estate Group).
Chairman of Phat Dat Real Estate Group Nguyen Phat Dat also witnessed a breakthrough in assets recently and is considered a potential name in the future list of USD billionaires of Vietnam. Dat holds more than 266 million shares of Phat Dat Real Estate Group, worth nearly VND18.9 trillion. The share increased sharply from VND30,000 six months ago to VND70,000 per share at present.
Many super rich people have not been revealed yet
In fact, the number of super-rich in Vietnam is still quite a lot and if they had appeared early, they would have become the first billionaires of Vietnam. Many entrepreneurs have not put all businesses on the stock market. Therefore, asset valuations have not occurred.
In 2018, the book “Competing with Giants” published by Fobesbook, wrote about a Vietnamese billionaire who had never been named on any list of billionaires. According to this book, Mr. Tran Quy Thanh (chairman of Tan Hiep Phat Group) once rejected a $2.5 billion offered by Coca Cola to buy his shares in 2011. If Thanh had accepted that historic M&A deal, he would have been the first USD billionare of Vietnam, before Pham Nhat Vuong.
Mr. Tran Quy Thanh - Chairman of Tan Hiep Phat group.
In 2017, Mr. Trinh Van Quyet, Chairman of FLC Group, and Mr. Bui Thanh Nhon of Novaland were also considered the third billionaires on Vietnam's stock market, but had not yet been ranked by foreign organizations.
Quyet currently holds more than 215 million FLC shares, more than 23 million ROS shares, more than 7 million GAB shares and more than 3.1 million ART shares. His total assets used to be estimated to VND40-50 trillion (about $2 billion).
Previously, Mr. Dao Hong Tuyen, Chairman of Tuan Chau Group, once revealed that he had assets of about $1 -2 billion. Many other names such as Chairman of T&T Group Do Quang Hien, Chairwoman of Van Thinh Phat Group Truong My Lan, Nguyen Xuan Truong and Vu Van Tien of Geleximco are among the richest Vietnamese.
With the breakthrough growth of many large corporations, Vietnam is expected to have more USD billionaires.
Currently, Vingroup Chairman Pham Nhat Vuong is still the richest person on the stock market with assets equivalent to shares worth VND253 trillion ($10.8 billion). According to Forbes, by the end of May 10, Vuong had assets worth $9.1 billion. He will have additional assets of tens of billions of USD if VinFast’s IPO is successful in the US.
Chairman of Hoa Phat Group Tran Dinh Long owns 864 million HPG shares, worth VND52.5 trillion ($2.25 billion). According to Forbes, by the end of May 10, Long had $3.1 billion. HPG shares recently set a record high in a row thanks to large profits and record hikes in steel prices.
The owner of Xuan Thanh Group is likely to be a powerful boss at LienVietPostBank. After being involved in cement and real estate, the most powerful tycoon in Ninh Binh province has entered the financial sector.
The real estate firm of Dang Thanh Tam has attracted $1.2 billion worth of investments into its IZs within a short time, projecting a profit increase of 6-7 times in 2021 amid continued foreign capital inflow.