Many of the richest people on the Vietnamese stock market receive 'money rain'

Stock prices soared, and the assets of many of the richest billionaire families on the stock market increased by thousands of billions of dong on God of Wealth Day (the 10th day of the first lunar month).

The stock market continued to move positively in the first session of the week - Photo: QUANG DINH

In the first days of the Year of the Dragon 2024, the stock market has been positive. VN-Index continued its upward trend from last week and opened in green in today's session (February 19), which is also the God of Wealth's day. The bright spot in the session was still the trio of Vingroup stocks (VIC, VRE and VHM) which all hit the ceiling, with extraordinary liquidity. Cash flow spread strongly to steel stocks, HPG was also flooded with green. Stock prices soared, and the assets of the families of the richest and second richest people on the stock market, Mr. Pham Nhat Vuong and Mr. Tran Dinh Long, increased by thousands of billions of VND.

The richest man in Vietnam just got a few hundred million dollars more

According to data on Forbes on February 19, billionaire Pham Nhat Vuong's assets have just increased by 214 million USD. Compared to the end of 2023, the assets of the richest person in Vietnam have increased by half a billion USD. On the Vietnamese stock market, based on the number of shares he personally owns and those held by his representative, Mr. Vuong's assets were estimated by a financial website to be nearly 98,000 billion VND, an increase of nearly 5,000 billion VND compared to the end of 2023. From the beginning of the year to February 19, VIC has increased by about 5.4%, with the closing price reaching 47,000 VND/share. Of which, today alone, VIC has increased by 6.94%. Mr. Vuong is directly holding more than 691 million VIC shares, equivalent to more than 32,480 billion VND, an increase of about 2,000 billion VND compared to the previous session.

Mr. Vuong's wife - Ms. Pham Thu Huong, who holds more than 169.9 million VIC shares - also recorded total assets of more than VND8,000 billion, an increase of about VND500 billion on God of Wealth Day. The increase in the price of Vingroup shares appeared after positive information about VinFast from foreign markets.

According to Indian media, VinFast has been allocated about 400 acres (nearly 160 hectares) of land in an industrial park owned by the State Industrial Promotion Corporation of Tamil Nadu (SIPCOT) in Thoothukudi city. This land area will be used to build VinFast's first factory in India. Previously, within the framework of the Indonesia International Motor Show (IIMS) 2024, VinFast also officially signed a letter of intent to cooperate with the first 5 dealers in Indonesia. The signing ceremony is an important step in expanding the distribution network in the Indonesian market...

Billionaire Tran Dinh Long's son just received a big profit from the "transfer" of shares

The positive stock market also caused the net worth of another USD billionaire to increase sharply. Forbes reported that Mr. Tran Dinh Long - Chairman of the Board of Directors of Hoa Phat Group - also increased by 58 million USD on February 19. Mr. Long's total assets after this update have reached 2.5 billion USD, an increase of 700 million USD compared to the end of 2023 and 200 million USD compared to February 9, 2024. Mr. Long holds 1.51 billion HPG shares, equivalent to 44,000 billion VND, an increase of about 800 billion VND on the day of God of Wealth. Mr. Long is in the top 2 in the ranking of the richest people on the stock market. The continuous increase in the billionaire's assets is thanks to the increase in HPG shares. At the end of today's session, HPG reached 29,200 VND/share, up 2.1% compared to the previous session and up 4.5% compared to the beginning of the year. But if calculated after one year, HPG has increased by more than 39%. Billionaire Tran Dinh Long's wife and son also own a significant number of shares in Hoa Phat. In particular, Ms. Vu Thi Hien - Mr. Long's wife - has just risen to 7th place in the list of richest people on the stock exchange, with total assets estimated at about 11,680 billion VND, an increase of 240 billion VND today. Mr. Tran Vu Minh - Mr. Long's son - also owns assets of more than 3,900 billion VND, just increased by nearly 800 billion VND, ranking 35th in the top rich people on the stock exchange. Previously, in November 2023, Mr. Minh was sold by his parents nearly 43 million HPG shares. Up to now, Mr. Minh owns 133.63 million HPG shares, equivalent to 2.3%. According to information provided at the 2023 General Meeting of Shareholders, Hoa Phat Group is and will focus resources on implementing the Hoa Phat Dung Quat 2 Iron and Steel Complex project. This project is expected to be completed in the first quarter of 2025, increasing Hoa Phat's crude steel capacity to more than 14 million tons/year. According to the group's leaders, when Dung Quat 2 is completed, Hoa Phat's revenue will increase by VND80,000 - 100,000 billion per year compared to present./.

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