'Vin' stocks hit ceiling price, billionaire Pham Nhat Vuong reaches record richness

Billionaire Pham Nhat Vuong was recorded by Forbes as having his assets skyrocket to a record high, ranking 131st in the world after the “Vin” group of stocks continued to break out. This was the driving force behind the strong increase in the VN-Index.

At the end of the trading session on October 10, the VN-Index increased by 22.61 points (+1.32%) to 1,739.08 points. This is the third consecutive increase after FTSE Russell announced on October 8 that it would upgrade Vietnam's stock market to secondary emerging market.

The upgrade will officially take effect from September 21, 2026, following a mid-term review in March 2026. Vietnam's stock market is expected to benefit in the coming decades thanks to strong capital market reforms.

The main contributors to the strong increase on October 10 and helping VN-Index set a new historical peak were the large-cap stocks of the "Vin family", including Vingroup (VIC), Vinhomes (VHM), Vincom Retail (VRE) and Vinpearl (VPL).

The market is forecast to have the potential to rise to new heights while stocks in many other industry groups have not yet exploded.

For the entire week, VN-Index increased by 6.18%. However, liquidity has not exploded as the matched volume is lower than the 20-week average (-16.1%), showing that the breakout momentum is still limited.

CSI Securities maintains positive market expectations with a high probability that the VN-Index will continue its upward momentum in the new week's sessions to conquer the resistance level of 1,780 points.

As of October 10, billionaire Pham Nhat Vuong was recorded by Forbes to have assets of 18.1 billion USD. Photo: VIC

In today's session, Vingroup (VIC) shares hit the ceiling, increasing by 12,500 VND to 192,000 VND/share. This is the record high price of the shares of the corporation chaired by Mr. Pham Nhat Vuong. This price is much higher than the figure of 40,000 VND/share in February.

Vinhomes (VHM) shares - a subsidiary of Vingroup - also increased to the ceiling price, adding VND8,000 to VND123,000/share. Vincom Retail (VRE) increased by VND2,350 (+6%) to VND40,350/share. Vinpearl (VPL) increased by VND1,800 to VND89,000/share.

By the end of the session, Vingroup's market capitalization hit a record of nearly VND740 trillion (about USD28.5 billion) and ranked No. 1 on the stock market. Vinhomes ranked third in the capitalization list with more than VND505 trillion.

In total, the group of 4 "Vin family" enterprises has a total capitalization exceeding 1.5 million billion VND.

The surge of Vin stocks has helped billionaire Pham Nhat Vuong set a new record. According to Forbes, as of October 10, the richest businessman in Vietnam had assets worth 18.1 billion USD, a sharp increase from 4 billion USD at the beginning of the year. Mr. Vuong is currently ranked 131st among the richest people on the planet.

The market also recorded a sharp increase in the shares of Hoa Phat Group (HPG), chaired by Mr. Tran Dinh Long, by 650 VND to 29,600 VND/share. Mr. Long has assets of 3 billion USD. Ms. Nguyen Thi Phuong Thao - Chairwoman of Vietjet Air, Vice Chairwoman of HDBank has assets of 3.5 billion USD.

Masan (MSN) shares, chaired by Nguyen Dang Quang, increased by VND1,000 to VND84,100/share, bringing Quang's assets to USD1.2 billion. Techcombank (TCB) Chairman Ho Hung Anh had USD2.6 billion as of October 10.

Mr. Pham Nhat Vuong's assets increased rapidly in the context of Vingroup Corporation and the group of businesses in this ecosystem rushing to expand their empire.

On October 6, Vingroup announced the establishment of VinMetal Production and Trading Joint Stock Company, officially entering the metallurgical industry, expanding the modern industrial - technological pillar. VinMetal has an investment capital of VND10,000 billion with a capacity of about 5 million tons/year in phase 1, in Vung Ang, Ha Tinh.

VinMetal aims to produce specialized steel for electric vehicles as well as high-speed transport infrastructure, such as steel for car bodies, rails, bridge - port - railway structures... to serve VinFast and Vinhomes.

Previously, billionaire Pham Nhat Vuong established VinEnergo Energy JSC as the investor of the Hai Phong LNG Thermal Power Plant project, which has the largest capacity in Vietnam of 4,800 MW. In July, Mr. Vuong also contributed capital to the company established to register to invest in the VinSpeed ​​North-South high-speed railway project.

Mr. Vuong's VinFast has recently boosted sales in Vietnam and expanded to many countries such as India and the Philippines.

Vingroup shares surge, billionaire Pham Nhat Vuong gets richer Billionaire Pham Nhat Vuong gets richer with assets up to 15.8 billion USD thanks to Vingroup shares continuously increasing in price. Mr. Vuong's wife becomes the second female billionaire in Vietnam. Meanwhile, the stock market is down.

Source: https://vietnamnet.vn/co-phieu-ho-vin-don-dap-tang-tran-ty-phu-pham-nhat-vuong-giau-ky-luc-2451337.html