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Huong, 57, vice chairwoman of Vingroup, saw her net worth rise by US$162 million to $4 billion Wednesday, according to U.S. magazine Forbes.

She now shares the second spot with Nguyen Thi Phuong Thao, chairwoman of low-cost airline Vietjet Air, who also has a net worth of $4 billion.

Huong, who has a master’s degree in international law from Ukraine, is one of the founders of Vingroup, the largest listed private company in the country. She owns a 4.4% stake in the company.

In early February Forbes recognized her as a billionaire, along with her sister, Pham Thuy Hang, 51, who is now the third-richest in the country with a fortune of $2.8 billion.

Vingroup chairman Vuong, 58, remains the richest person in Southeast Asia with $35.6 billion after a $1.3-billion rise on Wednesday.

Vietnam’s four other billionaires gained between $10 million and $111 million in net worth on Wednesday.

They are Tran Dinh Long, chairman of steelmaker Hoa Phat Group ($2.5 billion), Ho Hung Anh, chairman of Techcombank ($2.3 billion), Ngo Chi Dung, chairman of VPBank ($1.1 billion), and Nguyen Dang Quang, chairman of consumer giant Masan Group ($1 billion).

Vietnam’s benchmark VN-Index rose by 1.67% Wednesday, its fifth straight day of gains, driven by shares of Vingroup, which have jumped 12% since it being included in the FTSE Global Equity Index Series last week.

A total of 27 stocks were added by the London-based index provider, making Vietnamese stocks more accessible to international investors.

Vietnam is scheduled to move from frontier market to secondary emerging market in the FTSE Russell indices on Sep. 21, 2026.