'Sustainably' rich billionaires on the Vietnamese stock market

2022 ended with a sharp decline in the stock market, causing the assets of many billionaires around the world to plummet. Similarly, Vietnam's VN-Index also closed the year down nearly 33% and many companies' stocks fell sharply compared to before. This is the main reason why the assets of many billionaires in USD fell sharply. However, the billionaires below are still famous for being rich on the stock market. As of December 30, Vingroup Chairman Pham Nhat Vuong still led the list of richest people in Vietnam with a net worth of 4.1 billion USD. However, compared to the estimated net worth at the beginning of the year of about 6.2 billion USD, this billionaire lost up to 2.1 billion USD, equivalent to a net loss of nearly 34% of his assets this year.

Billionaire Pham Nhat Vuong

Next is Ms. Nguyen Thi Phuong Thao - General Director of VietJet Air - currently has assets of 2.3 billion USD. Like other billionaires, in 2022, the stocks that Ms. Thao owns such as VJC and HDB also decreased sharply, so her assets lost 800 million USD.

Billionaire Nguyen Thi Phuong Thao - General Director of VietJet Air

However, the CEO of Vietjet Air is one of those whose assets have decreased the least, thanks to the aviation industry's strong recovery over the past year, after a long period of stagnation due to the pandemic. Domestic flights have been fully restored and most international flights have also resumed, contributing to the positive impact on Vietjet Air's business results. It is forecasted that in 2023, Vietjet Air's business situation will be even brighter after China opens up. Statistics show that the number of international visitors to the Chinese market accounts for 35% of the total number of international visitors to Vietnam before the pandemic, so China's opening up will strongly support the recovery prospects of Vietnam's international aviation. In the next position are Mr. Ho Hung Anh - Chairman of Techcombank and Mr. Nguyen Dang Quang - Chairman of Masan . Mr. Ho Hung Anh's current assets are recorded at 1.6 billion USD, a loss of 700 million USD compared to 2.3 billion USD at the beginning of 2022. Meanwhile, Mr. Nguyen Dang Quang currently holds 1.4 billion USD, a decrease of 500 million USD (down 26%). Thanks to the recovery of HPG shares, by the end of 2022, Chairman Tran Dinh Long owned assets of 1.5 billion USD, equivalent to a net decrease of 1.7 billion USD (down more than 53% compared to the beginning of the year).

Mr. Tran Dinh Long

This year, Mr. Tran Dinh Long's assets have decreased by half as the steel industry faces "unprecedented difficulties" - according to his own prediction at the Annual General Meeting of Shareholders. The difficulties include: the conflict between Russia and Ukraine, the COVID-19 situation in China, escalating raw material prices, skyrocketing USD exchange rates and fluctuating domestic interest rates, which are factors that have strongly impacted the steel industry in general and Hoa Phat in particular. Meanwhile, the assets of billionaire Tran Ba ​​Duong and his family have had the lowest fluctuations. Thaco Chairman currently holds 1.5 billion USD, down 100 million USD (down 7%) compared to the estimated 1.6 billion USD at the beginning of the year.

According to VTC