Vietnam still has 4 USD billionaires, assets lost greatly overnight

billionaire - Photo 1.

At the beginning of this year, Vietnam still had 6 USD billionaires - Photo: QUANG DINH

The four USD billionaires according to Forbes data on April 4 include: Mr. Pham Nhat Vuong - Chairman of Vingroup, Ms. Nguyen Thi Phuong Thao - Chairman of VietJet, Mr. Tran Dinh Long - Chairman of Hoa Phat and Mr. Ho Hung Anh - Chairman of Techcombank.

The person who has just left the list of billionaires with billion-dollar assets is Mr. Nguyen Dang Quang - Chairman of Masan Group - the largest retail enterprise in Vietnam. Before Mr. Quang, Mr. Tran Ba Duong - Chairman of Thaco Group, also left this list.

The number of USD billionaires in Vietnam is increasingly decreasing in the context of volatile stock market.

After yesterday's record-breaking stock market drop, all four billionaires remaining on Forbes ' rich list saw their fortunes decline significantly.

Of which, Mr. Pham Nhat Vuong's assets decreased by 280 million USD to 7.4 billion USD and ranked 422nd in the ranking. A few days ago, Mr. Vuong with a net asset size of 7.5 billion USD, ranked 414th, surpassing both Mr. Donald Trump and "investment legend" George Soros, both in the US.

Similarly, Mr. Ho Hung Anh's assets also "evaporated" 211 million USD, remaining 1.7 billion USD, ranking 2,024th on the list.

Ms. Nguyen Thi Phuong Thao's assets also decreased, losing nearly 200 million USD, to 2.5 billion USD. Meanwhile, Mr. Tran Dinh Long's assets "evaporated" 240 million USD, to 2.1 billion USD.

Thus, the assets of 4 Vietnamese billionaires have decreased by about 930 million USD after the world's sharpest stock market decline.

However, this decline may not stop immediately, as the group of stocks that some investors are holding continues to be under adjustment pressure this morning.

For example, by nearly 11am this morning, Techcombank's TCB continued to decrease by 2.3%, Viejet Air's VJC decreased by 1.7%, and Hoa Phat's HPG decreased by 35%.

Only VIC of Vingroup has a strong price increase trend (+3.2%).

Previously, at the close of yesterday's session, 440 stocks fell by the full limit, something that had never happened before, including stocks of Vingroup, Masan, Techcombank, and Vietjet.

Large-cap stocks fell sharply, causing the VN-Index to drop 88 points, falling to 1,229 points, losing all of its gains since the beginning of the year. The sharp decline in the stock market occurred right after Mr. Trump announced that he would impose a 46% reciprocal tax on Vietnam.

Experts say higher US tariffs will challenge both Vietnamese manufacturers and policymakers, especially since tariffs on Vietnam’s main competitors are lower than ours.