Tuesday, January 23 2018

VietNamNews

Five largest families own assets worth $12.2b

Update: January, 04/2018 - 16:36
Assets of five richest families totalled $12.2 billion based on the value of their stock holdings on the stock market on January 2, 2018. — Photo cafef.vn
Viet Nam News

HÀ NỘI — Five richest families have seen their wealth swell in early 2018 thanks to the boom of Việt Nam’s stock market.

The benchmark VN-Index surpassed the 1,000-point landmark on January 3 after rising 48 per cent in 2017 and is heading to beat the record of 1,027 points in November 2007.

The rankings of the richest people on the stock market have also changed, especially the list of wealthy families, if one includes assets of family members and their related investment companies.

According to data on Cafef.vn, the five richest families have total assets worth over US$1 billion each, namely Phạm Nhật Vượng family (VinGroup), Nguyễn Thị Phương Thảo family (Vietjet, HDBank), Trịnh Văn Quyết family (FLC Group, FLC Faros), Trần Đình Long family (Hòa Phát Group) and Bùi Thành Nhơn family (Novaland Investment Group).

Assets of these five families totalled $12.2 billion based on the value of their stock holdings on the stock market on January 2, 2018.

Five richest families on the Vietnamese stock market. — Photo cafef.vn

Ending 2017, total assets of the top 10 richest people on the stock market climbed to VNĐ270.8 trillion (some $12 billion) by the end of 2017, a significant rise compared with the VNĐ96 trillion recorded in 2016-end.

Almost 50 people have wealth of over VNĐ1 trillion.

Except for the Trần Đinh Long and Trịnh Văn Quyết families whose family members directly hold stocks in their companies, the remaining three families own a number of private investment firms that have stake in their main businesses.

The Nguyễn Thị Phương Thảo family established Hướng Dương Sunny Investment Co and Sovico Holdings to invest capital in Vietjet Air and HDBank. Similarly, Bùi Thành Nhơn owns Novagroup Holdings and Diamon Properties, while Phạm Nhật Vượng founded Việt Nam Investment Group. — VNS

 

 

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