Vietnamese billionaire Pham Nhat Vuong, Chairman of Vingroup and CEO of VinFast, has seen his fortune surge to $7.5 billion as of March 29, according to the latest Forbes update.

This places him at 414th on the global billionaire list, a dramatic rise of 425 spots since the end of January.

By comparison, former U.S. President Donald Trump’s net worth has dropped to $4.8 billion, ranking him 722nd in the world. This marks a significant gap between the two billionaires, as Vuong’s wealth continues to rise while Trump’s declines.

Rapid increase in wealth

Vuong’s fortune has grown significantly amid a strong performance by Vingroup (VIC) and Vinhomes (VHM) stocks. Since early March, VIC shares have risen by about 38%, from VND 42,000 per share to VND 58,000 per share. Meanwhile, VHM shares have increased by 31.3%, from below VND 39,000 per share in mid-February to VND 51,200 per share as of March 28.

The surge in VIC’s stock price has pushed Vingroup’s market capitalization to nearly VND 222 trillion (about $8.6 billion). Vuong, along with his affiliated companies - Vietnam Investment Group and VMI Real Estate Investment and Management JSC - holds a majority stake in Vingroup, with a combined value of approximately $4.7 billion.

Vinpearl IPO and expansion projects

Vinpearl (VPL), a Vingroup subsidiary, recently filed to list over 1.79 billion shares on the Ho Chi Minh City Stock Exchange (HOSE) on March 6. Before filing, Vinpearl offered more than 70 million shares to the public at VND 71,350 per share, raising over VND 5 trillion ($213 million).

Vinpearl is a leading tourism and resort service brand in Vietnam, with dozens of properties under the Vinpearl, VinWonders, and Vinpearl Golf brands in popular destinations such as Phu Quoc, Nha Trang, Hoi An, and Quang Ninh.

VinFast and new investment projects

Vuong’s wealth is also tied to VinFast (VFS), which is listed on the Nasdaq Stock Exchange in the U.S., with a market capitalization of around $8 billion. Additionally, several large-scale projects under the “Vin” brand have recently gained traction, including Vin Vu Yen Hai Phong, Vin Co Loa, and Vin Dan Phuong.

In Ho Chi Minh City, the local government has approved the reclamation and development of the Can Gio Coastal Tourism Urban Area, led by Can Gio Tourism Urban JSC, a member of Vingroup.

Decline in Trump’s wealth

In contrast to Vuong’s financial gains, Donald Trump’s wealth has fallen from $6.2 billion in November 2024 to $4.8 billion in March 2025. Stocks related to Trump, including Trump Media & Technology Group, which owns Truth Social, have recently plummeted.

Trump’s wealth primarily comes from the Trump Organization, founded in 1927, which initially focused on construction and real estate in New York. Since taking over in 1971, Trump expanded into hotels, golf courses, entertainment, asset management, brokerage, and marketing.

Other Vietnamese billionaires

Aside from Pham Nhat Vuong, Vietnam currently has four other billionaires. As of March 29:

Nguyen Thi Phuong Thao, Chairwoman of Vietjet, holds a fortune of $2.7 billion.

Tran Dinh Long, Chairman of Hoa Phat Group, has a net worth of $2.3 billion.

Ho Hung Anh, Chairman of Techcombank, has assets worth $1.9 billion.

Nguyen Dang Quang, Chairman of Masan Group, holds $1 billion.

Truong Ba Duong, Chairman of Thaco Group, is no longer listed as a billionaire after his net worth dropped below $1 billion.

Manh Ha