Vietnamese billionaire Pham Nhat Vuong net worth could potentially jump to $16 billion from around $5.2 billion
It appears that the fortune of Pham Nhat Vuong, who currently holds the title of the wealthiest man in Vietnam, is on the verge of experiencing a significant boost. This boost could potentially amount to an impressive $11 billion, at least for a certain period of time.
The reason for this imminent rise in fortune is the fact that Pham Nhat Vuong has made arrangements to take his company, VinFast (a Vingroup subsidiary that specialises in the design and production of electric vehicles) public through a SPAC listing with a blank-check company founded by casino mogul Lawrence Ho.
As a result of this deal, Vietnamese EV automaker VinFast would be granted an equity value worth $23 billion. The vote on whether or not to proceed with the deal will take place on Thursday, with shareholders of Black Spade Acquisition Co. making the final decision.
If the deal goes through, it would become the third-largest special purpose acquisition company transaction in history. In terms of Vuong’s wealth, if the transaction is approved, it could potentially increase from its current value of $5.2 billion to as much as $16 billion, a truly remarkable feat.
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