In 2006, the names of the richest stock millionaires for the first time appeared in the media when a newspaper exposed the names and stock assets they were holding.
Truong Gia Binh, president of FPT, the largest Vietnamese IT Group, became the richest stock millionaire on the 2006 list. At that time, Binh held 5.12 million FPT shares, worth VND2.4 trillion (FPT shares were traded at VND460,000 per share on December 29, 2006).
However, by the end of 2016, with stock assets falling to VND1.438 trillion, Binh had fallen to the 17th position on the list of the richest stock millionaires.
The first position in the 2007 list belonged to Dang Thang Tam, who owned two real estate development firms – Tan Tao Investment & Industry JSC (ITA) and Kinh Bac Urban Development (KBC), with the total assets of VND6.3 trillion.
However, Tam’s assets had decreased to VND1.226 trillion by the end of 2016, when he ranked 20th.
In 2008, HAGL shares of Hoang Anh Gia Lai Group entered the bourse, which led to Doan Nguyen Duc, president of the group, becoming the richest stock millionaire of the year.
However, by 2016, Duc had fallen to the 12th position, while his Hoang Anh Gia Lai Group had unsatisfactory business performance with debt of VND33 trillion by the end of 2015.
While other businesses have experienced ups and downs for many years, Pham Nhat Vuong, president of Vingroup, a real estate developer, has been standing firmly at the No 1 position since 2009.
Vuong’s stock assets have been increasing in the last two years partially thanks to the good business performance of Vingroup. The VIC shares he is holding have value of VND31.851 trillion.
The other names in the top 10 are also well-known and influential businessmen, but their positions change regularly.
These include Trinh Van Quyet, president of FLC with stock assets worth VND30 trillion; Pham Dinh Long, president of Hoa Phat (VND9.14 trillion); Pham Thu Huong, vice president of VIngroup (VND5.243 trillion); and Nguyen Duc Tai, president of The Gioi Di Dong (VND3.588 trillion.
However, Forbes’ latest report about billionaires named only two Vietnamese billionaires – Pham Nhat Vuong and Nguyen Thi Phuong Thao, CEO of Vietjet, while Trinh Van Quyet was not on the list.
In 2013, after many years in the top 10 and top 20, Dang Van Thanh, president of Sacombank, and his son, Dang Hong Anh, disappeared from the list. The fall of Thanh remains a mystery.