Hyperdrive
Tycoon’s Fortune Soars $39 Billion on Eyebrow-Raising SPAC
- Pham Nhat Vuong is now worth $44.3 billion after VinFast debut
- Automaker more than triples after blank-check company merger
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Its electric cars have been dogged by poor reviews and it’s on pace to make fewer sales this year than General Motors Co. does in a week.
Yet that hasn’t stopped VinFast Auto Ltd. from becoming the latest beneficiary of speculative fervor around newly minted SPAC deals — many of which end up tumbling over the long-term.