Pham Nhat Vuong, chairman of Vingroup, has become the richest person in Southeast Asia, with a net worth of $24.5 billion, according to Forbes’ real time billionaire rankings.
The milestone marks a significant shift in the region’s wealth landscape, as Vietnam’s most prominent business figure overtakes Indonesia’s Prajogo Pangestu to claim the top spot.
What Changed: A Rapid Shift in Regional Wealth
The ranking change is driven largely by market movements:
- Prajogo Pangestu’s wealth dropped sharply from over $44 billion to $18.6 billion
- The decline is linked to a steep fall in shares of Barito Pacific
- Meanwhile, Vuong’s net worth remained relatively stable despite some decline
Vuong is now ranked 100th globally, reinforcing Vietnam’s growing presence in global wealth rankings.
The Vingroup Factor
Vuong’s wealth is closely tied to his controlling stake in Vingroup, one of Vietnam’s largest conglomerates.
- He and his family control around 65 percent of the company
- He directly owns nearly 390 million shares, equivalent to about 10 percent
- His net worth is largely influenced by fluctuations in Vingroup stock
Despite a recent drop of nearly $4 billion in his personal wealth this year, he has still risen to the top regionally.
A 12-Year Wealth Surge
Vuong’s rise has been rapid by global standards.
- Became Vietnam’s first billionaire in 2013 with $1.5 billion
- His wealth has grown more than 16 times over 12 years
This trajectory mirrors Vietnam’s broader economic expansion and the scaling of its private sector.
A Billionaire Family
Vuong is not the only billionaire in his family.
- His wife and sister in law have also joined global billionaire rankings
- Each holds an estimated $1.5 billion in assets
- Both play senior leadership roles within Vingroup
This positions the family as one of the most influential business dynasties in Vietnam.
What It Means for Investors
For international investors, Vuong’s rise highlights several key trends:
- Vietnam’s corporate sector is producing globally significant wealth
- Market volatility can rapidly reshape regional rankings
- Conglomerates like Vingroup remain central to Vietnam’s growth story
Vingroup itself is targeting strong expansion, with ambitious revenue and profit goals for 2026, signaling continued momentum.
Bottom Line
Pham Nhat Vuong’s ascent to Southeast Asia’s richest individual is more than a personal milestone.
It reflects Vietnam’s increasing economic weight in the region and signals that the country’s leading corporations are now competing at a global scale.
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Source: Vietnam Insider