A 200% EV IPO bonanza has boosted the wealth of Vietnam’s wealthiest person eightfold to over $44 billion

• Vietnam EV maker VinFast’s shares jumped over 200% on its Tuesday debut on Nasdaq.
• The share surge boosted the fortune of major shareholder Pham Nhat Vuong.
• Vuong is now worth $44.3 billion — that’s $39 billion more than what he was worth just a day prior.

Vietnam’s richest person, Pham Nhat Vuong, got eightfold richer on Tuesday after shares of his electric vehicle company soared on its Nasdaq debut.

The 55-year-old is now worth $44.3 billion — that’s $39 billion more than his net worth just a day prior, according to the Bloomberg Billionaires Index. The billionaire was worth $5.3 billion before the bonanza.