Southeast Asia’s 5 richest billionaires, led by Vietnam’s Pham Nhat Vuong, worth $110.7B
Southeast Asia’s five richest billionaires have a combined net worth of about US$110.7 billion, with Vingroup chairman Pham Nhat Vuong accounting for nearly a third of it.
Southeast Asia is home to five billionaires with a combined net worth of $110.7 billion, according to Forbes' real-time billionaire rankings released on Monday. Vietnam's Pham Nhat Vuong leads the list with a staggering $36.5 billion fortune, positioning him as the region's wealthiest individual and ranking 60th globally. This wealth surge is primarily driven by the rising value of Vingroup shares, which soared to a record VND236,000 ($9.05) on August 27, marking Vuong's fourth-largest gain among billionaires worldwide and outpacing even Meta CEO Mark Zuckerberg's increase.
Vuong's wife, Pham Thu Huong, also made Forbes' list as Vietnam's second-richest person, sharing the $4.1 billion fortune with chairwoman Nguyen Thi Phuong Thao of Vietjet Air.
Philippine ports tycoon Enrique Razon Jr. occupies the second spot with a net worth of $20 billion. The 66-year-old chairperson of International Container Terminal Services Inc. (ICTSI) saw his wealth grow by over $10 billion year-on-year, as ICTSI shares more than doubled due to the company's international expansion. Meanwhile, Indonesia's coal magnate Low Tuck Kwong, aged 78, holds the third position with a net worth of approximately $19.3 billion.
Low's wealth increased by about $4 billion in August as Bayan Resources, his flagship company, experienced a 27% surge in shares. The tycoon is reportedly in discussions to potentially sell a majority stake in the coal miner to a consortium led by Indonesian tycoon Haji Isam.
Thai tycoons Dhanin Chearavanont and Sarath Ratanavadi occupy the fourth and fifth spots, respectively, with net worths of $17.6 billion and $17.3 billion. Dhanin, 87, is the senior chairman of Charoen Pokphand Group, a conglomerate with diverse businesses in sectors such as agriculture, food production, retail, telecommunications, real estate, finance, and e-commerce.
CP Group, a major arm of the conglomerate, plans to invest an additional $600 million in Vietnam to expand poultry and pork processing facilities. Thai energy tycoon Sarath Ratanavadi, the founder and CEO of Gulf Development, rounds out the top five after adding $5.6 billion to his wealth, fueled by the transformation of Gulf Development from a conventional power producer into a broader infrastructure conglomerate.
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