Vietnamese billionaire Pham Nhat Vuong. Photo: VGP
Vuong, chairman of Vingroup, ranked 100th globally and overtook Indonesian tycoon Prajogo Pangestu, whose wealth was estimated at $18.6 billion, placing him 138th on the list.
Pangestu, founder of Barito Pacific Group, has seen his fortune decline after shares in his businesses fell about 60 percent since the start of the year.
Forbes data also showed rising wealth among Vuong's family members, with his wife Pham Thu Huong holding an estimated $2.5 billion and his sister-in-law Pham Thuy Hang about $1.8 billion, supported by gains in Vingroup shares, which rose around seven percent over the past week.
Forbes compiles its billionaire rankings using a combination of interviews, regulatory filings, financial disclosures, and other public records, assessing assets ranging from company stakes and real estate to luxury holdings while accounting for known debts.
