Southeast Asia’s richest man Pham Nhat Vuong surpasses Samsung, Alibaba billionaires in wealth
The wealth surge of Southeast Asia’s richest man Pham Nhat Vuong this year has pushed him up in the global billionaire ranking, surpassing many major entrepreneurs including Samsung chairman Jay Y. Lee and Alibaba co-founder Jack Ma.
Pham Nhat Vuong, 58, the chairman of Vietnam's largest listed company Vingroup, has become the world's 55th richest person, surpassing billionaires from Samsung, Alibaba, and other major tech firms, according to Forbes' real-time data. Vuong's wealth has surged by 35% so far this year, primarily due to the rally in Vingroup shares as the company expands its investments in major property and high-speed rail projects.
His shares have climbed by 47% since the beginning of the year, reaching a historic peak. This wealth increase has propelled Vuong's position up almost 40 places in the global billionaire ranking, elevating him to a net worth of $38.4 billion.
Vuong's rise to wealth eclipses that of Jay Y. Lee, the 58-year-old executive chairman of Samsung Electronics, who was the world's 64th wealthiest person with a fortune of $34.6 billion at the time of publishing. Lee, grandson of Samsung's founder and third-generation leader of the family business, joined Samsung in 1991 and gradually rose through its ranks, becoming vice chairman of Samsung Electronics in 2012.
Vuong's net worth also surpasses that of Jack Ma, the 61-year-old Chinese tech mogul who co-founded Alibaba Group Holding in 1999 and helped build it into one of the world's largest e-commerce businesses. Ma stepped down as Alibaba's executive chairman in 2019 but remains a mentor to the company. Vuong's wealth surpasses that of Lei Jun, the 56-year-old founder and CEO of Xiaomi, who is the 127th richest person globally with a fortune of $21.7 billion.
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