Vietnam tycoon preserves his position in world billionaire list

By Minh Nga, TN News

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Pham Nhat Vuong graces the cover of the Forbes Vietnam in its first issue in Vietnam last year
Pham Nhat Vuong, CEO of Vingroup JSC, Vietnam's largest property developer and mall operator, continues to make his name in the list of world billionaire conducted by Forbes, world famous business magazine.
According to Forbes counting, Vuong, 45, the only and first Vietnamese in the magazine’s list, now owns around US$1.6 billion in his total assets, compared to $1.5 billion of last year when he was named as one billionaire of the world by the magazine.
He ranks 1,092 this year, sliding 118 spots from last year's rank.
In the past year, Vuong has been busy raising funds, netting $1 billion through a mix of asset sales, loans, private equity deals to fund dozens of property projects across the country.
He also completed two major property developments including Vincom Mega Mall Royal City, touted as Asia's largest underground retail and entertainment complex, boosting Vingroup’s shares by 15 percent, said Forbes.
Pham Nhat Vuong studied in Moscow then moved to Ukraine where he started Technocom, a maker of instant noodles. 
He returned to Vietnam in 2001 to plunge into real estate, eventually selling his foods company in 2009 to Nestle. Vingroup's other assets include hotels, education and healthcare.
Top of the billionaire list of of Forbes this year is Bill Gates, owner and founder of US-based Microsoft Corporatin with $76 billion in his assets, followed by Mexican business magnate, investor, and philanthropist Carlos Slim Helu and Spanish fashion executive Amancio Ortega Gaona.
This year, 1,645 billionaires were put in the list with a total assets of $6.4 trillion, up $1 trillion over last year.

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