Vietnam’s Pham Nhat Vuong jumps to 69th on Forbes rich list as Vingroup shares rise

Forbes’ real-time billionaires list showed Vuong’s total net worth at $32.4 billion, placing him among the biggest gainers globally during the session.

Other top gainers included Masayoshi Son of SoftBank Group, whose wealth rose by $6.8 billion, Zhong Shanshan, founder of Nongfu Spring, up $3.2 billion, and Larry Ellison of Oracle, whose net worth increased by $2.5 billion.

The wealth of Vuong’s spouse, Pham Thu Huong, vice-chairwoman of Vingroup, rose by about $190 million to $3.5 billion.

Shares of Vingroup-related companies climbed in morning trade, with Vinhomes up 4.6 percent, Vingroup rising 4.14 percent, and Vincom Retail gaining 1.87 percent.

At a shareholder meeting on Tuesday, Vinhomes said it had made progress in project development and sales after the first quarter and raised its targets.

The company now targets revenue of VND285 trillion ($10.83 billion) and an after-tax profit of VND60 trillion ($2.28 billion).

Vingroup is scheduled to hold its annual general meeting of shareholders in Hanoi on Wednesday.

The group has revised its 2026 consolidated revenue target to VND485 trillion ($18.42 billion), up 45.7 percent from 2025, and expects an after-tax profit of VND35 trillion ($1.33 billion), roughly triple the previous year.

The updated targets are higher than those announced earlier this month, reflecting more optimistic expectations for the year.