Billionaire Pham Nhat Vuong's assets increased by 39 billion USD

Billionaire Pham Nhat Vuong donated 1 billion USD to VinFast , taken from his personal assets - Photo: NAM LONG

Billionaire Pham Nhat Vuong's fortune skyrockets after VinFast shares debut in the US

Closing the first trading session on the US Nasdaq stock exchange early this morning, August 16 (Vietnam time), the stock code VFS of VinFast electric car company officially reached the price of 37.06 USD/share (+68.45%). Trading volume reached 6.8 million shares.

The soaring stock price has pushed VinFast’s market capitalization to $85.2 billion. This market capitalization is as much as all the US electric vehicle startups combined, and is higher than many other famous car companies in the world such as Ford, General Motors, Stellantis, BMW, Volkswagen, Mercedes-Benz, etc.

In the structure, billionaire Pham Nhat Vuong is holding about 45% of VinFast's shares. Therefore, after VinFast finished its first trading session on the US stock exchange, this billionaire's assets also increased by about 39 billion USD, bringing his total assets to more than 44 billion USD. This is also the largest asset level ever of a Vietnamese billionaire.

Based on the net worth updated by Bloomberg News, it can be seen that billionaire Pham Nhat Vuong is temporarily in the top 30 richest people on the planet.

Mr. Vuong's assets also temporarily surpass a series of other famous billionaires in the world: billionaire Zhang Yiming (42.3 billion USD, founder of TikTok's parent company), billionaire Jensen Huang (39.3 billion USD, CEO of chip giant Nvidia), billionaire Ma Huateng (38.4 billion USD, the most secretive and powerful billionaire in China's technology industry, owner of technology giant Tencent)...

In the Bloomberg Billionaires Index, Mr. Pham Nhat Vuong is the only representative of Southeast Asia, in the top 5 richest people in Asia.

Listing on the US stock exchange is one of the important strategies in the process of bringing VinFast to the global market. In order for the electric car company to develop, earlier this year Mr. Pham Nhat Vuong shared his plan to donate 1 billion USD to VinFast, taken from his personal assets. Vingroup Corporation alone will provide a non-refundable 500 million USD, as well as a loan of 1 billion USD for VinFast for a maximum period of 5 years.

"Vin family" stocks surge

Holding 51% of VinFast shares, Vingroup Corporation also "benefits" when VFS shares increase in price. Vingroup's capitalization value has just been added more than 44 billion USD.

Note that, like other stocks listed on the stock exchange, VinFast's capitalization value may continue to increase or decrease depending on market developments. At the same time, the amount of VFS shares released for investors to freely buy and sell on the stock exchange (free-float) in the first session is at a low level.

In the Vietnamese stock market, as soon as the trading session opened today, investors also witnessed a massive cash flow into Vingroup's VIC stock, helping this code jump to the ceiling price of VND75,600/share, leading the top 10 stocks that have a positive impact on the Ho Chi Minh City Stock Exchange index. Over the past month, VIC stock has had a price increase of up to 47%.

Two other stocks in the "Vin family" including VHM (Vinhomes) and VRE (Vincom Retail) are also receiving quite good buying power.

According to tuoitre.vn

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