The list, which is published by the U.S. magazine annually by around April, has conglomerate Vingroup’s chairman Pham Nhat Vuong as the richest man in Vietnam with a net worth of $6.5 billion, up $2.1 billion from last year.

This is his 13th appearance on the annual list.

Vietnam's 5 Billionaires. Top, from L: Pham Nhat Vuong, Vingroup Chairman, Masan Chairman Nguyen Dang Quang, Techcombank Chairman Ho Hung Anh. Bottom: Hoa Chairman Tran Dinh Long, Vietjet Air Chairwoman Nguyen Thi Phuong Thao. Graphics by VnExpress/Hoang Chuong

He is followed by chairwoman of budget carrier Vietjet Air, Nguyen Thi Phuong Thao, who saw her wealth remain unchanged at $2.8 billion.

Steel tycoon Tran Dinh Long, chairman of Hoa Phat Group, comes third with a $2.4-billion net worth, down $200 million from last year.

For a seventh time Ho Hung Anh, chairman of private lender Techcombank, features in the list, this time with a wealth of $2 billion, up $300 million.

Nguyen Dang Quang, chairman of retailer and food producer Masan Group, rounds off the list with a net worth of $1 billion, a $200-million decline.

Tran Ba Duong, chairman of automaker Thaco, did not make it in this year’s list. Last year he had a net worth of $1.2 billion.

Forbes made the list based on stock prices and exchange rates as of March 7.

This year the world has a record 3,028 billionaires, 247 more than last year and the first time the count has exceeded 3,000.

Their combined wealth is also the highest ever at $16.1 trillion and the average has risen by $200 million to $5.3 billion per person.

The richest person on the planet is Tesla CEO Elon Musk with $342 billion. He is followed by Meta Platforms’ Mark Zuckerberg ($216 billion), Amazon founder Jeff Bezos ($215 billion), and Oracle founder Larry Ellison ($192 billion), all of the U.S., and French luxury goods magnate Bernard Arnault ($178 billion).

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