Vietnam’s Richest Man Poised for $11 Billion Gain From EV SPAC

The fortune of Vietnam’s wealthiest man is poised to soar by as much as $11 billion, vaulting him to the upper ranks of the world’s richest people — for a while, at least.

Pham Nhat Vuong has the paperwork in place to take his electric-vehicle maker VinFast public through a SPAC listing with a blank-check firm founded by casino mogul Lawrence Ho. The deal would give VinFast, a company little known outside Vietnam, an equity value of $23 billion.

Pham Nhat Vuong

Photographer: Linh Pham/Bloomberg

On Thursday, shareholders of Black Spade Acquisition Co. will vote on whether to complete the deal. If it does, ...