The average wealth of people in the top 5% of the richest population in 2021 is USD 316,658 (equivalent to VND 7.8 billion).
According to data collected from the World Inequality Database, the top 5% of the richest people in Vietnam will account for 46.9% of the country’s wealth in 2021, while the top 10% of the richest people in Vietnam will account for 59% takes. In contrast, the poorest 50% own only 5.6% of the wealth.
World Inequality Database
The average wealth of people in the top 5% of the richest population in 2021 is USD 316,658 (equivalent to VND 7.8 billion), the top 10% richest is USD 181,132 (equivalent to VND 4.1 billion). Meanwhile, the average wealth of the poorest 50% of the population is only USD 3,429 (nearly VND 78 million).
World Inequality Database
To be in the top 5% of the population with the largest assets in Vietnam, you need a minimum wealth of USD 112,343 (almost 2.8 billion VND), and to be in the top 10%, you must have a minimum wealth of 61,313 USD (almost 1.4 billion VND).
However, these figures may not fully cover all aspects, as the wealth of many Vietnamese mainly exists in the form of real estate.
In developed countries, such as the US or Australia, a database of property values by market value will be included in the statistics because they tax the market value of the property. Therefore, when evaluating total assets, statistical firms will readily calculate asset values that are very close to market prices. In other countries, the increase in house prices will be attributed to irregular income and tax will have to be paid on that part of the irregular income. In Vietnam, no department has been quick to update information on house price increases.
Net worth is the value of all financial and non-financial assets owned less all outstanding liabilities. Where assets consist of cash and investments, real estate, cars or anything else of value that you own.
The rich in Vietnam are expected to increase rapidly
According to Knight Frank’s 16th Prosperity Report, the number of super-rich population (UHNWI) – those with USD 30 million or more – in Vietnam in 2021 is 1,234, 1% lower than in 2020, and the number of dollar millionaires is 72,135.
The number of super-rich in Vietnam is expected to increase by about 26% per year to 1,551 between now and 2026. While the number of millionaires in 2026 is expected to reach 114,807 people. So in just 4 years there will be 1 million USD for every 850 people in Vietnam.
Another report, Centi-Millionaire, recently published by investment consultancy Henley & Partners, states that Vietnam, with an astonishing 95% growth rate, is expected to be the fastest growing market in the world. The world of millionaires will own USD 100 million or more in the next ten years.
According to the report, the number of people with assets in excess of USD 100 million will grow strongly in the real estate, technology and financial services sectors.
@ Vietnam net
