Billionaire Pham Nhat Vuong is set to contribute more than 78.5 million Vingroup shares, valued at over $307 million, to VinSpeed – a company established to pursue investment in the North-South high-speed railway project.

As Chairman of Vingroup (VIC), Vuong has filed a registration for the transfer of ownership of more than 87.5 million VIC shares, equivalent to 2.26% of Vingroup’s charter capital, to VinSpeed. The transfer is scheduled to be carried out through the Vietnam Securities Depository and Clearing Corporation (VSDC) between June 24 and July 23.

Following this transaction, Vuong will retain over 449.9 million VIC shares, representing 11.6% of Vingroup’s charter capital. On June 19, VIC shares closed at 89,400 VND per share, putting the value of the 87.5 million shares at approximately 7.8 trillion VND (around $307 million).

Earlier, Vuong transferred more than 48 million VIC shares to VinSpeed. He currently serves as Chairman and CEO of VinSpeed.

Additionally, on June 18, Vuong completed the transfer of more than 70.6 million VIC shares to another of his ventures, VinEnergo, bringing his total holding in VinEnergo to 105.6 million VIC shares, or 2.72% of Vingroup’s capital.

VIC stock has surged recently, rising over 54% from 58,000 VND per share to the current 89,400 VND. Vingroup now has a market capitalization of nearly 342 trillion VND (approximately $13 billion).

According to Forbes, as of June 19, Vuong has a net worth of $10 billion, ranking him 285th globally.

VinSpeed, founded in May 2025, is the corporate vehicle registered to invest in Vietnam’s ambitious North-South high-speed railway project, which is estimated to cost around $61 billion, excluding land clearance and resettlement expenses. VinSpeed has committed to securing 20% of the required capital, or about $12 billion, and has proposed borrowing the remaining 80% from the state at zero interest.

Manh Ha