Vingroup chief Vietnam’s only billionaire
  • By Bich Diep | | January 04, 2017 04:14 PM

Chairman of Vingroup Pham Nhat Vuong is still Vietnam's only dollar billionaire and has moved up on Forbes' billionaires list of the world's richest people as of January 3.


Chairman of Vingroup Pham Nhat Vuong

With a net worth of USD2.2bn, Vuong's rank has moved up from 1,011 to 914. His net worth has increased considerably compared to USD1.8bn from three months ago. Vuong's net worth listed on Forbes is also much higher than his total value of Vingroup JSC share which is estimated at USD1.3bn.

However, Vuong is not the richest person in terms of the Vietnam stock exchange. That title rests with Trinh Van Quyet, chairman of the FLC Group. Quyet's total assets on the Vietnam stock exchange on November 14 were valued at over USD1.4bn.

Quyet is the new name on the list of the riches in Vietnam and hasn't been added to the Forbes' list. His rise started only four months ago when FLC Faros Construction JSC was listed on the stock exchange.

FLC Faros Construction JSC share value has increased from VND12,600 (55 US cents) to VND115,800 as of January 3 and is likely to increase.

One of the reasons that cause FLC Faros' share value to rise is because during this time, Quyet has bought a large number of shares in FLC Group and FLC Faros Construction JSC.

Quyet is holding 289.6 million shares of FLC Faros, accounting for 67.34% of the company's charter capital, and 114.2 million shares of FLC Group, accounting for 17.9% of its charter capital.

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