Five richest families have seen their wealth swell in early 2018 thanks to the boom of Viet Nam’s stock market.

Assets of the 5 richest families totalled $12.2 billion based on the value of their stock holdings on the stock market on January 2, 2018. — Photo cafef.vn

The benchmark VN-Index surpassed the 1,000-point landmark on 3 January after rising 48% in 2017 and is heading to beat the record of 1,027 points in November 2007.

The rankings of the richest people on the stock market have also changed, especially the list of wealthy families, if one includes assets of family members and their related investment companies.

According to data on Cafef.vn, the 5 richest families have total assets worth over 1 billion US$ each, namely Pham Nhat Vuong family (VinGroup), Nguyen Thi Phuong Thao family (Vietjet, HDBank), Trinh Van Quyet family (FLC Group, FLC Faros), Tran Dinh Long family (Hoa Phat Group) and Bui Thanh Nhon family (Novaland Investment Group).

Assets of these five families totalled 12.2 billion$ based on the value of their stock holdings on the stock market on 2 January, 2018.

The 5 richest families on the Vietnamese stock market. — Photo cafef.vn

By the end of 2017, total assets of the top 10 richest people on the stock market had climbed to 270.8 trillion VND (some 12 billion$), a significant rise compared with the 96 trillion VND recorded in 2016-end.

Almost 50 people have wealth of over 1 trillion VND.

Except for the Tran Dinh Long and Trinh Van Quyet families whose family members directly hold stocks in their companies, the remaining three families own a number of private investment firms that have stake in their main businesses.

The Nguyen Thi Phuong Thao family established Huong Duong Sunny Investment Co and Sovico Holdings to invest capital in Vietjet Air and HDBank.  Similarly, Bui Thanh Nhon owns Novagroup Holdings and Diamon Properties, while Pham Nhat Vuong founded Viet Nam Investment Group.

(Source: VNS)