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Assets of Vietnam’s only billionaire rise to $2.2 billion

Securities assets of billionaire Pham Nhat Vuong have exceeded VND30,400 billion ($1.36 billion), as he turns 48 years old.


Assets of Vietnam’s only billionaire rise to $2.2 billion

Billionaire Pham Nhat Vuong


So far this year, the price for Vingroup shares (VIC) has added VND10,300/share or 25% to VND51,500/share, the highest since Vingroup’s listing.

The price for VIC has gradually increased since the early 2016. Even in the Brexit crisis, VIC price has still been maintained. Currently foreign investors are holding more than 12% of Vingroup’s shares.

Vingroup’s market capitalization is estimated at VND109,000 billion ($4.9 billion). At this level, Vingroup is among the four largest listed companies on the stock market of Vietnam, after the Vietnam Dairy Products JSC or Vinamilk (VNM), Bank for Foreign Trade of Vietnam (Vietcombank) and the Vietnam Gas Corporation (GAS).

Also, assets from shares of Vuong’s family have reached a record. Vuong alone holds 591 million VIC shares, worth VND30,436 billion (over $1.36 billion), an increase of over VND6,105 billion ($277.5 million) since early 2016. Compared to early 2015, his property rose by over VND10,000 ($454.5 million).

Meanwhile, Vuong’s wife - Pham Thu Huong - holds 102 million shares, equivalent to VND5,248 billion ($238 million), an increase of VND1,053 billion compared with a year earlier. The assets of Pham Thuy Hang, Huong’s sister, has increased by VND700 billion ($35 million) to VND 3,500 billion ($159 million).

Generally, the assets of three family members of billionaire Vuong reached nearly VND39,200 billion ($1.78 billion), an increase of over VND7,800 billion from earlier in the year.

In the list of 100 richest people in Vietnam's stock market 2015, Vuong was in the number one position with total assets of more than VND24,300 billion ($1.1 billion). Pham Thu Huong and Pham Thuy Hang ranked 3rd and 5th.

Vingroup’s Chairman is the only Vietnamese in the top richest men in the world 2016 by Forbes, which was announced last March. Accordingly, Vuong ranked 1,011th with assets of $1.76 billion, $ 0.1 billion more than 2015.

In 2013, Forbes for the first time added his name on the list of world's billionaires with assets of $1.5 billion, ranking 974th.

According to the latest updates by Forbes, with assets of $2.2 billion, Vuong has risen by 108 places in the list of world billionaires.

At the end of the first quarter 2016, the turnover of Vingroup was VND15,159 billion, profit of VND1,038 billion. The group’s total assets were approximately VND150,700 billion, of which VND107,000 were liabilities. Inventories decreased to over VND25,000 billion.

US$1 = VND22,300

Le Ha

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