Billionaire Pham Nhat Vuong, founder and chairman of Vietnam’s largest private conglomerate Vingroup, has become the richest person in Southeast Asia, with an estimated net worth of more than USD 24.5 billion, according to the latest Forbes update.
Vuong is now ranked 100th globally, marking a sharp rise in wealth and placing him ahead of other leading billionaires in the region.
The shift follows a decline in the fortune of Indonesian tycoon Prajogo Pangestu, founder of Barito Pacific, whose wealth fell from more than USD 44 billion to around USD 18.6 billion, largely due to a steep drop in his company’s share price since the start of the year.
Trailing Vuong in regional rankings are several Indonesian billionaires, including Prajogo Pangestu, Budi Hartono and Low Tuck Kwong. Filipino businessman Enrique Razon Jr. also remains among Southeast Asia’s wealthiest individuals, reflecting the region’s diverse economic landscape.
Although Indonesia continues to have the largest number of billionaires in Southeast Asia, Vuong’s rise signals a shift in regional wealth dynamics, highlighting the growing prominence of Vietnamese enterprises.
Analysts said fluctuations in billionaire rankings are likely to continue, driven by movements in financial markets, energy prices and key industrial sectors. Amid ongoing global economic uncertainty, wealth positions may change rapidly.
Vuong’s ascent reflects not only his personal financial growth but also the expanding role of Vietnamese corporations in the regional economy.
He currently holds nearly 390 million VIC shares, equivalent to about 10.05 per cent ownership.
In addition to Vuong, two other members of his family have also entered Forbes’ global billionaire list. His wife, Pham Thu Huong, and his sister-in-law, Pham Thuy Hang, each have an estimated net worth of USD 1.5 billion.
Pham Thu Huong serves as vice chairwoman of Vingroup and chairwoman of GSM, the operator of the Xanh SM electric taxi and ride-hailing service, while Pham Thuy Hang is also a vice chairwoman of the group.