Vingroup chairman Pham Nhat Vuong’s net worth has surpassed US$14.2 billion, making him the 188th richest person in the world. Photo: VIC

At the close of trading on Wednesday, Vingroup’s stock VIC rose six percent, reaching VND143,100 (US$5.4) per share.

This surge pushed Vingroup’s total market capitalization to over VND555.3 trillion ($21 billion), an increase of VND31.5 trillion ($1.2 billion) from the previous trading day.

With this valuation, Vingroup has overtaken Vietcombank (VCB), which currently holds a market capitalization of VND541.447 trillion ($20.5 billion), becoming the most valuable publicly traded company in Vietnam.

From 2018 to 2020, Vingroup consistently held the top spot in terms of market capitalization, before ceding the position to Vietcombank in 2021.

According to data from the Ho Chi Minh Stock Exchange, as of the end of August, there were 52 companies on the bourse with market capitalizations exceeding $1 billion.

Among them, seven companies had valuations of over $10 billion, with the majority coming from the banking sector.

Previously, Vietcombank led the list, followed by Vingroup (VIC), real estate developer Vinhomes (VHM), and lenders BIDV (BID), Techcombank (TCB), VPBank (VPB), and Vietinbank (CTG).

Since the beginning of 2025, VIC shares have seen a remarkable increase of over 250 percent, propelling the group’s market capitalization significantly.

This rapid price growth has also made VIC the best-performing stock in the VN30 basket, which groups the 30-largest cap stocks, far outpacing its peers and other blue-chip stocks.

As a result, the net worth of Vingroup chairman Pham Nhat Vuong has risen substantially.

As of Wednesday, Forbes reported his total wealth at $14.2 billion, a jump of more than $400 million from the previous day.

He now ranks as the 188th richest person in the world.