Vingroup retains top spots on 2015 rich list

According to a survey by VnExpress – Vietnam’s most widely-read online newspaper – and securities brokerage VNDirect, as the final bell tolled on the 2015 stock exchanges, the top 500 richest people (Top 500) owned more than VND102.9 trillion ($4.7 billion) in stocks, a 13 per cent jump on-year.

Thanks to the warming of the property market, the stock value of this sector rose sharply, with 97 of the top 500 coming from real estate companies.

The list of the top 20 richest people also included many property tycoons whose asset value reaches into the dozens of millions in US dollars. This list included Pham Nhat Vuong, chairman of Vietnam’s largest real estate developer Vingroup; Doan Nguyen Duc, chairman of multi-sector group Hoang Anh Gia Lai; Nguyen Van Dat, chairman of Phat Dat Real Estate Corporation; Dang Thanh Tam, chairman of HoSE blue-chip Kinh Bac Urban Development Corporation; and Trinh Van Quyet, chairman of property group FLC.

Heading the Top 500 in 2015 was Vingroup chairman Pham Nhat Vuong, whose total stock asset value is VND24.3 trillion ($1.1 billion). This is Vuong’s sixth consecutive year retaining the pole position.

Tran Dinh Long, chairman of leading steel maker Hoa Phat Group, came second with VND5.38 trillion ($246 million) worth of assets, whereas Pham Thu Huong, deputy chairwoman of Vingroup, ranked third with VND4.19 trillion ($192 million).

Doan Nguyen Duc, chairman of Hoang Anh Gia Lai, was eliminated from the top three for the first time in eight years, standing at fourth place on the 2015 list with assets dropping to VND3.61 trillion ($165 million) from some VND7.57 trillion ($347 million) in early 2015.

Another Vingroup deputy chairwoman, Pham Thuy Hang, completed the top five with assets worth VND2.8 trillion ($125 million).

One-fifth of Vietnam’s richest stock-holders are real estate developers - Photo: Le Toan

The economic rebound last year spring-boarded the stock value of many tech, auto, and real estate giants.

Outside of the real estate sector, the top 500 also included 30 businessmen from steel firms, 36 from the food sector, 12 from auto companies, 40 from civil engineering and construction firms, 29 bank moguls, and 20 stakeholders in agricultural and seafood firms.

Some businessmen operating in the pharmaceutical, computer, and hardware services sectors also elbowed their way on to the illustrious list.

In terms of locality, Ho Chi Minh City was home to the highest number of honoured businessmen with 119 representatives, while Hanoi was lagging somewhat behind it with 78 successful entrepreneurs.

To be named in 2015’s Top 500, individuals must have a stock asset value of at least VND18.65 billion ($855,500), much higher than 2014’s requirement of VND15.4 billion ($706,400). Dang Quang Hanh, the younger brother of Dang Thanh Tam, chairman of Kinh Bac Corp, occupied the final spot in the 500th position.

The richest shareholders in Vietnam mainly hold management positions at listed companies. However, some were members of particularly wealthy families or were individual investors. Also included in the Top 500 list were foreign business people from countries and territories like South Korea, Taiwan, and Australia.

The findings also showed that by the end of 2015, Vietnam reported a total of 431 US dollar millionaires, who have a stock value of at least $1 million.

2015 was the tenth consecutive year that VnExpress and stock brokerage VNDirect issued the list of Vietnam’s richest shareholders. The information was gathered from disclosures by nearly 700 listed firms in both the Hanoi and Ho Chi Minh City stock exchanges.

Based on the data provided, VnExpress contacted shareholder management sections of the listed firms to ensure the information posted was entirely accurate.