How much money did billionaire Tran Dinh Long's family lose after Donald Trump's statement?

(NLDO)- After Mr. Donald Trump's announcement, in the first session of the week, Mr. Tran Dinh Long's family lost nearly 2,800 billion VND in asset value.

After US President Donald Trump announced a 25% tax on all steel and aluminum imported from countries including Vietnam, the stock prices of steel companies fluctuated strongly last week, becoming the focus of the market.

Of which, HPG shares of Hoa Phat Group fell sharply by 4.7% - the strongest adjustment in the past 6 months, down to 25,400 VND. Trading liquidity of this stock ranked first in the market, with more than 61 million units.

Accordingly, the asset value of Hoa Phat Chairman Tran Dinh Long, who owns 1.65 billion HPG shares, "evaporated" more than 2,000 billion VND, down to nearly 42,000 billion VND.

Similarly, the asset value of Ms. Vu Thi Hien, Mr. Long’s wife, also decreased by more than 550 billion VND. Mr. Long’s son also decreased by more than 184 billion VND. In total, Mr. Tran Dinh Long’s family lost nearly 2,800 billion VND in asset value.

In the following sessions, the assets of this steel billionaire family increased again thanks to HPG shares gradually recovering but not significantly.

The value of billionaire Tran Dinh Long's family's assets 'evaporated' nearly 1,300 billion VND last week.

Specifically, at the end of the trading session on February 14, HPG shares reached VND26,100/share, up 0.7% compared to the reference price, more than 2.7% compared to the sharp decline at the beginning of the week but still down 2.06% compared to the end of last week.

Accordingly, the asset value of Mr. Tran Dinh Long increased to 43,000 billion VND, 1,000 billion VND higher than the first session of the week but still decreased by more than 970 billion VND compared to the last session of last week.

Similarly, the asset value of Mr. Long's wife increased by more than 300 billion VND compared to the first session of the week, at 11,484 billion VND but decreased by 242 billion VND compared to the end of last week.

The value of Mr. Long's son's assets increased by more than 103 billion VND compared to the session on February 10 and decreased by more than 80 billion VND compared to the weekend, down to 3,836 billion VND.

Thus, in the past week, Mr. Tran Dinh Long's family lost nearly 1,300 billion VND in asset value.

Regarding business results, in 2024, Hoa Phat recorded revenue of VND 140,560 billion, an increase of 17% over the previous year, achieving the 2024 plan. Profit after tax reached VND 12,020 billion, an increase of 77% over 2023 and exceeding the annual plan by 20%.

In 2024, Hoa Phat produced 8.7 million tons of crude steel, an increase of 30% compared to 2023. Sales of HRC steel products, construction steel, high-quality steel and steel billets reached 8.1 million tons, an increase of 20%.

Of which, construction steel and high-quality steel reached 4.48 million tons, up 18% over the previous year. HRC hot-rolled steel produced more than 3 million tons, up 5% over 2023.

At the Government Standing Committee meeting with businesses on tasks and solutions for private businesses to accelerate, make breakthroughs, and contribute to the country's rapid and sustainable development in the new era held on the morning of February 10, the Chairman of Hoa Phat Group proposed the need to deploy the exploitation of Thach Khe mine to fundamentally solve the annual source of raw materials and save foreign currency.

In the 2025 - 2030 plan, public investment capital is very large, especially the Hanoi and Ho Chi Minh City urban railway projects, the Lao Cai - Hanoi - Hai Phong railway project. This is a great opportunity for businesses.

Mr. Tran Dinh Long said that in the near future, Hoa Phat may invest in a rail manufacturing factory, investing 10,000 billion VND. This is a very special product, if it is not used for the project, it will not know who to sell it to.

Hoa Phat hopes to have a document like a resolution so that businesses can confidently invest and produce products to serve the project.

Hoa Phat promised to ensure the supply of steel for the Railway Corporation to carry out the project. It is expected that about 10 million tons of steel will be needed, Hoa Phat committed to ensuring the quantity of 10 million tons, quality, delivery schedule and price lower than import price.

Source: https://nld.com.vn/gia-dinh-ti-phu-tran-dinh-long-mat-bao-nhieu-tien-sau-tuyen-bo-tu-ong-donald-trump-196250216190535763.htm