Billionaire Pham Nhat Vuong goes up on Forbes' list

Wednesday, Mar 02, 2016 17:55

Pham Nhat Vuong (left) and New Zealand PM John Key visit Vinmart supermarket in ha Noi in 2015. — Photo QDND

HA NOI (Biz Hub) —Pham Nhat Vuong, billionaire founder and chairman of Vingroup, rose 107 steps in Forbes Magazine's updated list of the richest people in the world.

The list names 1,612 billionaires around the world.

Vuong, Viet Nam's only representative on the list, rose from 1,118 last year to 1,011. Forbes estimated his current assets at US$1.76 billion, as much as $100 million more than last year.

Real estate developer Vingroup has expanded its business rapidly into retails, logistics, agriculture, education and healthcare.

In 2015, it opened the first safari on Phu Quoc island and opened another 7 new shopping malls across the country. — VNS

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