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More USD billionaire candidates emerge in Vietnam

After the last trading session in 2016, the second dollar billionaire, Trinh Van Quyet, 42, president of FLC Group, emerged.

VietNamNet Bridge – Vietnam added two more US dollar billionaires in the last several months. Nearly 10 other dollar billionaires are awaiting recognition.

Quyet is well known in Vietnam as president of FLC, a real estate developer, and the biggest shareholder of a construction firm with a high growth rate in Vietnam – FLC Faros.

The two companies have been well known for the chain of large-scale resort projects and golf courses developed in many cities and provinces in Vietnam, including FLC Sam Son, FLC Quy Nhon and FLC Ha Long.

By the end of 2016, Quyet owned shares worth VND33 trillion, or $1.5 billion, higher than 2015’s richest billionaire Pham Nhat Vuong, president of Vingroup, also a real estate developer.

Vietnam added two more US dollar billionaires in the last several months. Nearly 10 other dollar billionaires are awaiting recognition.

The third dollar billionaire appeared in the last days of 2016. He is Bui Thanh Nhon, chair of Novaland, a real estate firm, who is in the fourth position on the list of the richest Vietnamese stock billionaires.

Nhon and his family members hold 380 million NVL shares worth VND23.4 trillion, or over $1 billion.

The debut of two dollar billionaires within a short time stirred up the stock market. However, analysts said Vietnam has more than two or three dollar billionaires. Nearly 10 other billionaires are queuing up to be recognized, once their shares are listed on the bourse.

The HCMC Stock Exchange confirmed it has received the application for listing 216 million shares of Banacab, a cable car company, worth VND2.160 trillion if considering the face value.

Analysts commented that with Banacab’s potentials, its share price may increase by 5-7 times if compared with the face value. And if this happens, the total capitalization value of Banacab would be $1 billion.

Meanwhile, Nguyen Thi Phuong Thao, the owner of private air carrier Vietjet Air, is likely to become the first female billionaire and the 4th or 5th dollar billionaire in Vietnam after the air carrier launches its IPO.

Thao’s assets include more than Vietjet Air’s shares. The businesswoman also owns a series of resort projects throughout the country, including Furama Resort in Da Nang, Ana Mandara in Nha Trang, and An Lam Ninh Van Bay Villas. She also owns HD Bank shares.

The other possible dollar billionaires include Tran Ba Duong, the owner of the biggest Vietnamese automobile manufacturer, Truong Hai Thaco, valued at $2 billion, and Nguyen Thi Nga, president of BRG, SeABank and a series of valuable properties, including Hilton Hotel, Thang Loi Hotels, Song Nhue Hotel, Intimex and golf courses.

Vu Van Tien, chair of Geleximco, and Nguyen Van Truong, who kicked off the project in Ho Nui Coc National Park in early 2016 with capital of VND15 trillion, are also names for the dollar billionaire title.

V. Chung

The article "More USD billionaire candidates emerge in Vietnam" was originally published on