Vietnam has nearly 5,500 dollar millionaires with net worth of over $10mn each

The global population of HNWIs expanded 4.4 percent to more than 2.3 million people in 2024, Knight Frank reported.

America’s position as the world’s primary hub for wealth creation remains unchallenged. Some 38.7 percent of the world’s HNWI population, or 905,400 people, live in the U.S.. 

China ranks second with more than 471,600 HNWIs and is followed by Japan with over 122,000 people.

Compared to other countries in Southeast Asia, Vietnam ranks behind Singapore, Thailand, Indonesia, and Malaysia in terms of the number of individuals with a net worth of over $10 million.

According to Knight Frank, ultra-high-net-worth individuals are those with a net worth of $30 million or more each. 

The firm forecast that Vietnam will have 978 ultra-high-net-worth individuals by 2028, up 30 percent compared to 2023.

A report published in 2024 by South Africa’s New World Wealth and Switzerland's Henley & Partners showed that Vietnam had 19,400 millionaires with a net worth of over $1 million each and 58 centi-millionaires with assets exceeding $100 million each.

Between 2013 and 2023, the number of dollar millionaires in Vietnam surged 98 percent, nearly doubling over the decade.

According to Forbes’ list of the world’s richest people, Vietnam currently has five billionaires. Pham Nhat Vuong, chairman of the leading private conglomerate Vingroup, is the wealthiest individual in Vietnam with a net worth of over $8 billion.

He is followed by Nguyen Thi Phuong Thao, chairwoman of air carrier Vietjet; Tran Dinh Long, chairman of steelmaker Hoa Phat; Ho Hung Anh, chairman of lender Techcombank; and Nguyen Dang Quang, chairman of consumer goods producer Masan.