What Billionaire Pham Nhat Vuong Did During the 140% Increase of Vingroup Shares?

Vingroup’s shares (VIC) surged nearly 140% in just 3 months, boosting the market capitalization to 380 trillion VND. During this period, billionaire Pham Nhat Vuong made significant moves. He transferred over 48 million VIC shares to fund VinSpeed, a high-speed railway construction company with an investment of up to 1.6 trillion VND. Additionally, he used 35 million VIC shares to establish VinEnergo, an electricity production company with a charter capital of 2 trillion VND.

Vingroup also issued bonds worth a total of 15 trillion VND to raise capital. At the annual shareholders’ meeting, Vuong reaffirmed his commitment to invest in promising sectors. Notably, Vinpearl successfully listed on the stock exchange, becoming the first billion-dollar company listed, encouraging a new wave of IPOs in the Vietnamese stock market. Thanks to VIC shares, Vuong’s wealth increased, estimated at 10.7 billion USD, allowing him to surpass numerous well-known billionaires on the Forbes ranking.