Focusing on VinFast, Mr. Pham Nhat Vuong wins big

Along with continuously using personal money to finance VinFast's operations, Vingroup Chairman Pham Nhat Vuong's assets have continuously increased, now reaching the 15 billion USD mark.

VIC shares have increased "skyrocketingly" since the beginning of 2025, helping billionaire Pham Nhat Vuong enter the top 200 richest people in the world . Photo: Bloomberg .

In the middle of a packed auditorium of shareholders at the 2024 annual meeting of Vingroup Corporation (HoSE: VIC), Mr. Pham Nhat Vuong, Chairman of the Board of Directors of Vingroup, then boldly affirmed that VinFast is not just a business project, but the "mission and future" of the entire Vingroup Corporation and that he personally will "never let go of VinFast".

In an interview with Bloomberg in mid-June 2024, Vietnam's richest billionaire once again affirmed that he would definitely "invest in VinFast until he runs out of money."

Reality proves that the above commitments of Mr. Pham Nhat Vuong are not empty words. Accordingly, since declaring "all for VinFast", Mr. Vuong has spent tens of thousands of billions of VND from his personal assets to finance the operations of the first and only Vietnamese electric vehicle manufacturer to date.

Nearly 2 billion USD of his own money for VinFast

From the very beginning of its operation, VinFast has continuously received large-scale support from Vingroup and Mr. Vuong personally. In April 2023, Mr. Vuong announced a support package including 1 billion USD from his personal assets, plus 500 million USD from Vingroup as a non-refundable grant and 1 billion USD in loans with a maximum term of 5 years.

This is also a rare occasion when a Vietnamese billionaire directly uses his personal money to finance such a large-scale enterprise.

Not stopping there, in November 2024, Mr. Vuong and Vingroup continued to commit to investing in VinFast. In particular, the businessman Pham pledged to finance this electric car company with an additional 50,000 billion VND (equivalent to 1.9 billion USD) from his personal money, to ensure that VinFast has enough resources to maintain production and expand the market.

Vingroup also committed to providing new loans of up to VND35,000 billion by 2026, and converting about VND80,000 billion of existing debt into dividend-entitled preferred shares.

These moves help VinFast both improve its balance sheet and maintain its ability to expand production, especially in international markets such as the US, Canada and Europe.

Vingroup's 2025 semi-annual financial report said that Mr. Pham Nhat Vuong poured 23,000 billion VND into VinFast, of which about 18,000 billion VND was disbursed in the second quarter alone.

From 2023 to the end of the second quarter of 2025, the total amount of personal money that Mr. Vuong has disbursed to VinFast is more than 50,000 billion VND, equivalent to nearly 2 billion USD. Also from November 2024 to the middle of this year, VinFast has received an additional loan of more than 30,500 billion VND (about more than 1 billion USD) from its parent company Vingroup as committed.

From 2023 to the end of the second quarter of 2025, the total personal capital that Mr. Vuong has disbursed to VinFast will reach nearly 2 billion USD. Photo: Linh Pham/Bloomberg .

The above "huge" scale of funding has made VinFast one of the largest single investment projects in Southeast Asia in the manufacturing industry.

In a global context, Mr. Vuong’s investment in VinFast is comparable to the strategies of many large automobile corporations. With VinFast, after nearly 8 years of establishment, this electric car manufacturer is still receiving strong support from both the parent corporation and the founder.

The more money he spends on VinFast, the more Mr. Vuong's assets increase.

Notably, while continuously spending billions of dollars to finance VinFast, Mr. Pham Nhat Vuong's personal assets (according to Forbes statistics ) are constantly increasing.

Forbes ' 2025 World Billionaires Ranking published in April said that Mr. Pham Nhat Vuong is the richest person in Vietnam with assets of about 6.5 billion USD, an increase of 2.1 billion USD compared to a year earlier. However, up to now, that is, after only about 6 months, the personal assets of this Vietnamese businessman have reached 15 billion USD, an increase of nearly 3 times.

With the above assets, Mr. Vuong is currently ranked 176th in the list of the richest billionaires in the world, and is the first Vietnamese person to be in the group of 200 richest people on the planet.

In particular, the above assets also help the Vietnamese billionaire rank above a series of famous Asian businessmen and billionaires such as Samsung Group Chairman Lee Jae-yong (12.9 billion USD); Malaysia's richest man Robert Kuok (13 billion USD); Philippines' richest man Enrique Razon Jr. (12.8 billion USD)... Compared to other USD billionaires in the country, Mr. Vuong's assets are currently one and a half times higher than the total assets of the remaining 4 USD billionaires.

The strong increase in assets of the Vingroup Corporation's owner mainly benefits from the meteoric rise of VIC shares since the beginning of 2025.

VIC stock price has nearly quadrupled since the beginning of 2025. Source: FireAnt.

Accordingly, Vingroup's VIC stock has recorded a net increase of nearly 280% since the beginning of this year, currently trading at around VND153,200/share, also the highest level since listing. Vingroup's capitalization is also approaching the VND600,000 billion mark, the largest on the Vietnamese stock exchange.

In addition to VIC shares, a series of shares in the business ecosystem related to Mr. Pham Nhat Vuong have also increased sharply this year. In particular, VHM shares of Vinhomes have increased by more than 150%, while VRE shares of Vincom Retail have increased by more than 70% in the same period. Also this year, Vinpearl JSC - a member of Vingroup Corporation - listed VPL shares on HoSE, currently with a capitalization of over 143,000 billion VND.

More broadly, the increase in Mr. Vuong’s personal assets reflects the shift of the economy in the new context. The fact that a Vietnamese businessman can increase his assets by billions of dollars in just a few months shows the positive growth rate of the domestic stock market, in the context of the macro economy being flexibly managed to achieve the growth target of over 8% this year and over 10% from 2026.

The growth in the assets of Mr. Pham Nhat Vuong in particular and the increase in the price of "Vin family" stocks in general also reflects investors' expectations for the largest private enterprise, which is also the only electric vehicle manufacturer in Vietnam competing in the international market.

Source: https://znews.vn/don-luc-cho-vinfast-ong-pham-nhat-vuong-thang-lon-post1587152.html