Billionaire Pham Nhat Vuong 'competes' with Southeast Asian tycoons with assets of over 10 billion USD

Mr. Pham Nhat Vuong at Vingroup General Meeting of Shareholders - Photo: VIC

Billionaire Pham Nhat Vuong joins the 10 billion USD club

According to Forbes, as of November 8, billionaire Pham Nhat Vuong owns assets of about 18.7 billion USD. Vingroup Chairman is ranked 5th on the list. Compared to last year's announcement, Mr. Vuong's assets increased by 325%.

Forbes even ranked billionaire Vuong above two Thai billionaires: Mr. Dhanin Chearavanont - Senior Chairman of Charoen Pokphand Group (CP Group) and the family of Mr. Charoen Sirivadhanabhakdi - owner of ThaiBev, Fraser & Neave.

The two richest people in Southeast Asia are from Indonesia: billionaire Prajogo Pangestu with 44.1 billion USD and billionaire Low Tuck Kwong with 25.1 billion USD. Compared to last year, Mr. Prajogo Pangestu's assets increased slightly by 2%.

Meanwhile, Mr. Low Tuck Kwong's assets decreased by 8% compared to the 2024 ranking.

Indonesia has 6 out of 14 billionaires with assets of over 10 billion USD. Most of these billionaires come from the traditional industries of resource exploitation, banking, and tobacco. Mr. Prajogo Pangestu got rich from the petrochemical and energy business; and Mr. Low Tuck Kwong from the coal business.

Two other billionaires are the Hartono brothers, who have billion-dollar fortunes thanks to the banking and tobacco industries.

Billionaires from other countries such as Thailand, Malaysia, Vietnam, and the Philippines operate in multiple industries or focus primarily on real estate. For example, billionaire Pham Nhat Vuong started in real estate but later expanded to industry, technology, and energy.

In addition to its main business of animal feed production, CP Group of billionaire Dhanin Chearavanont also has insurance, telecommunications, and real estate. Similarly, billionaire Charoen Sirivadhanabhakdi's assets come from the beverage, retail, and real estate sectors.

List of USD billionaires in Southeast Asia according to Forbes - Chart: NGUYEN NGUYEN

Malaysian billionaire Quek Leng Chan's $10.3 billion fortune comes from real estate and banking. Philippine billionaire Manuel Villar's $10.5 billion fortune comes from real estate.

The list shows that billionaires from new economic sectors are still quite rare. Specifically, Indonesian billionaire Otto Toto Sugiri has assets of 11.4 billion USD in the data center sector. Singaporean billionaire Li Xiting, who is in the medical equipment business, has assets of 11.7 billion USD.

Rising Stars

Three people on this list entered the $10 billion club for the first time, including Otto Toto Sugiri, Pham Nhat Vuong, and Tahir. Their assets increased by 418%, 325%, and 136%, respectively, compared to Forbes ' 2024 announcement.

Otto Toto Sugiri is the co-founder and CEO of DCI Indonesia. The company was founded in 2011 and is one of the largest data center operators in Indonesia.

DCI Indonesia was listed in 2021. Before DCI, Sugiri founded Sigma Cipta Caraka in 1989, which was later acquired by Telkom Indonesia and is now known as Telkomsigma.

In February 2025, DCI Indonesia's DCII shares suddenly made waves when they increased from about 45,000 rupiah to a peak of nearly 360,000 rupiah in August 2025. The sharp increase in stock prices also caused the technology billionaire's assets to increase rapidly.

DCI Indonesia's shares have soared since early 2025 - Photo: TRADING VIEW

Similarly, VIC shares of Vingroup Corporation also made waves, causing billionaire Pham Nhat Vuong's assets to skyrocket. In February 2025, VIC shares were at 41,000 VND and quickly set a record of about 220,000 VND on October 28.

VIC's growth momentum took place in the context of Vingroup continuously implementing a series of large-scale strategic projects from real estate, industry and energy, infrastructure to materials industry.

Vingroup's VIC stock increased 4 times compared to the beginning of the year - Photo: TRADING VIEW

Tahir is the founder of the Mayapada Group, which operates in banking, healthcare , media and real estate. His family owns shares in Mayapada Bank and Maha Properti Indonesia.

He also owns real estate in Singapore, including through listed real estate company MYP.

Since the end of July, shares of Maha Properti Indonesia have increased 3.3 times in price. Shares of Mayapada Bank have also increased sharply, sometimes up to 81%. Therefore, billionaire Tahir's assets have increased rapidly compared to Forbes ' 2024 announcement .

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Source: https://tuoitre.vn/ti-phu-pham-nhat-vuong-so-gang-voi-cac-dai-gia-dong-nam-a-co-tai-san-tren-10-ti-usd-20251110212241608.htm#content-1