Vingroup Chairman Pham Nhat Vuong Claims Top Spot as Southeast Asia’s Wealthiest Individual

Vingroup chairman Pham Nhat Vuong overtakes Prajogo Pangestu to claim the top regional spot with a US$24.5 billion net worth, despite market fluctuations.

By: AXL Media

Published: Apr 5, 2026, 7:52 AM EDT

Source: Information for this report was sourced from VnExpress

A Shift in Regional Financial Dominance

Pham Nhat Vuong, the chairman of Vingroup, has officially ascended to the position of Southeast Asia’s wealthiest person, surpassing Indonesia’s Prajogo Pangestu. According to the latest Forbes real time data, Vuong now holds a net worth of US$24.5 billion, placing him 100th on the global rich list. This transition occurs despite a challenging start to the year for Vuong, whose personal wealth decreased by nearly $4 billion due to a decline in Vingroup shares from their previous record peaks.

The Dramatic Decline of a Former Leader

The shift in ranking was accelerated by a massive erosion of wealth for the former top billionaire, Prajogo Pangestu. In just three months, Pangestu’s net worth plummeted from over $44 billion to $18.6 billion, resulting in a drop to 138th place globally. This decline was primarily driven by a 60% collapse in the stock value of his company, Barito Pacific. The volatility followed moves by Indonesian authorities in January to scrutinize the transparency of the local stock market and the valuation of major corporate shares.

A Decade of Rapid Wealth Accumulation

Vuong’s rise to the regional summit marks the culmination of a twelve year trajectory since he was first recognized as Vietnam’s first billionaire in 2013. At that time, his net worth stood at $1.5 billion, ranking him 974th in the world. Since then, his fortune has expanded more than 16 fold. Currently, the businessman and his family maintain a controlling interest in Vingroup, representing approximately 65% of the company, with Vuong personally holding about 10.05% of the charter capital.