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Vietnam's first billionaire on Forbes list
Publication Date : 06-03-2013
Pham Nhat Vuong has become the first Vietnamese billionaire to enter the Forbes' list of world’s richest individuals.
Vuong, who ranks 974th, boasts total assets of US$1.5 billion due in large part to the 53 per cent stake he owns (both indirectly and directly) in Vingroup, his real estate development firm.
Born in Hanoi in 1968, Vuong started his career in Ukraine by producing noodles, eventually styling himself as Ukraine’s processed-food king. His noodle company, Technocom, had revenues of $100 million by 2010, when he sold the company for an estimated $150 million to Nestle.
The 2013 Forbes billionaires list now boasts 1,426 names, with an aggregate net worth of $5.4 trillion, up from $4.6 trillion. It found 210 new 10-figure fortunes. Once again the United States leads the list with 442 billionaires, followed by the Asia-Pacific region (386), Europe (366), the Americas (129) and the Middle East and Africa (103).