Tran Dinh Long, chairman of Hoa Phat Group, pictured during an interview in March 2018. Photo by VnExpress/Anh Tu.
Tran Dinh Long, chairman of steelmaker Hoa Phat Group, has moved up a position to become the third richest person in Vietnam.
His net worth rose 5.15 percent since Friday to $1.8 billion on Monday as Hoa Phat’s HPG stock recorded the largest gain among Vietnam’s blue chip stocks at 5 percent, closing at VND37,500 ($1.62) per share.
Long is now the third richest individual in the country behind Pham Nhat Vuong, chairman of the largest private conglomerate Vingroup with a net worth of $6.5 billion, and Nguyen Thi Phuong Thao, CEO of budget airline Vietjet at $2.4 billion, according to data from U.S. magazine Forbes.
Ho Hung Anh, chairman of largest private bank Techcombank, is fourth with a net worth of $1.5 billion.
The value of HPG shares has been rising since early last month as the largest producer of construction steel in the country posted its highest quarterly post-tax profit ever at VND3.78 trillion in the third quarter.