Vietnam has its second female USD billionaire.

Vietnam has just welcomed its seventh US dollar billionaire, who is also the country's second female billionaire, with her wealth increasing dramatically in a short period of time.

Ms. Pham Thu Huong - wife of Mr. Pham Nhat Vuong. (Photo: VIC)

The surge in wealth among Vietnamese entrepreneurs promises a brighter economic outlook. Several large businesses are about to launch public offerings, and some major corporations are gradually transitioning to the second generation, potentially bringing new USD billionaires to Vietnam.

The stock market just witnessed a rather impressive upward trading session, with capital flowing into real estate, construction, and public investment stocks, including Vingroup (VIC), chaired by Mr. Pham Nhat Vuong.

In the trading session on September 25th, Vingroup shares surged by 9,000 VND (+6%) to a new historical high of 158,000 VND/share, thereby increasing Vingroup's market capitalization by nearly four times compared to the beginning of the year, exceeding 608,000 billion VND. Vingroup's market capitalization far surpasses that of major banks such as Vietcombank, BIDV , VietinBank, etc., and holds the number one position on the stock market.

Vinhomes (VHM) shares rose by 1,500 VND to 99,500 VND/share. Vincom Retail (VRE) shares increased by 400 VND to 29,400 VND/share.

With the strong surge in VIC shares, billionaire Pham Nhat Vuong's assets, derived from shares listed on the Vietnamese stock market, have reached over 290 trillion VND (equivalent to nearly 11 billion USD).

According to Forbes' calculations, Pham Nhat Vuong's net worth increased by nearly 4.8% (equivalent to an increase of $703 million) to $15.4 billion, ranking him 168th in the world. Forbes included the value of Mr. Vuong's assets in VinFast (VFS), an electric vehicle company listed on Nasdaq with a market capitalization of over $7 billion.

With Vingroup's stock price increasing nearly fourfold since the beginning of the year, Pham Thu Huong, wife of Pham Nhat Vuong, has a net worth derived from VIC shares of nearly 27 trillion VND (equivalent to nearly 1.02 billion USD).

Thus, Ms. Pham Thu Huong has become the 7th USD billionaire on the Vietnamese stock market and the 2nd female USD billionaire, alongside Mr. Pham Nhat Vuong (Vingroup), Mr. Tran Dinh Long (Chairman of Hoa Phat Group), Mr. Do Anh Tuan (Sunshine), Ms. Nguyen Thi Phuong Thao (Chairman of VietJet, Vice Chairman of HDBank), Mr. Ho Hung Anh (Chairman of Techcombank) and Mr. Nguyen Dang Quang (Chairman of Masan).

Forbes has not yet ranked Ms. Pham Thu Huong on its list of USD billionaires. However, given the rate of increase in her wealth and Mr. Vuong's transparency with Forbes, it is highly likely that the organization will soon include Ms. Huong on its list of the world's richest people.

PV (compiled)

Source: https://baohaiphong.vn/viet-nam-co-nu-ty-phu-usd-thu-2-521845.html