Phạm Nhật Vượng is a Vietnamese property developer and Vietnam’s first billionaire. He is the founder and chairman of Vingroup.
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Vietnam’s richest man, Pham Nhat Vuong, saw a huge boost in his wealth as his electric car company, VinFast Auto, saw its shares skyrocket by a whopping 255 per cent in one day!
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This surge added a staggering $39 billion to Vuong’s net worth, making his total fortune now stand at $44.3 billion. VinFast’s market value even surpassed that of well-known car giants like General Motors and Mercedes-Benz.
Vuong’s firm control over 99 per cent of the company’s shares means the stock’s availability for trading by other investors is limited, which can lead to significant price swings.
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