How much of Vietnam's USD billionaires' assets 'evaporated' in 2022?

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 was the main reason for the sharp decline in the assets of many USD billionaires.

According to statistics from Forbes magazine (USA), Pham Nhat Vuong' target="_blank" rel="noopener noreferrer">Pham Nhat Vuong signed a cooperation agreement with the world's number 1 battery company">Mr. Pham Nhat Vuong - Chairman of Vingroup Corporation (VIC) - ended the year with assets of 4.1 billion USD and ranked 669th in the list of USD billionaires in the world. Compared to the beginning of 2022 when Forbes announced the list of USD billionaires, Mr. Pham Nhat Vuong's assets have lost 2 billion USD and his ranking has also dropped sharply.

Assets of Vietnam's USD billionaires decreased sharply in 2022

Ngoc Thang

Similarly, the assets of billionaire Tran Dinh Long - Chairman of Hoa Phat Group - also decreased to 1.5 billion USD, down 1.7 billion USD compared to the beginning of the year. In 2022, Hoa Phat's HPG shares recorded a sharp decline to nearly 12,000 VND/share. At the end of 2022, HPG code recovered from the bottom and traded at 18,000 VND/share but still lost more than 60% compared to the beginning of the year.

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

Another billionaire, Mr. Ho Hung Anh - Chairman of Techcombank - is recorded by Forbes as having assets of 1.6 billion USD, a loss of 700 million USD compared to the figure of 2.3 billion USD at the beginning of 2022. Meanwhile, billionaire Nguyen Dang Quang - Chairman of Masan Group - owns assets worth 1.4 billion USD, a decrease of 500 million USD. Billionaire Tran Ba Duong - head of Truong Hai Auto Corporation - is the one whose assets have decreased the least with 1.5 billion USD, only 100 million USD lower than at the beginning of this year.

In particular, Mr. Bui Thanh Nhon - Chairman of the Board of Directors of Nova Group - was also recognized for the first time in the list of world USD billionaires in early 2022 with assets reaching 2.9 billion USD. However, the sharp decline in the fourth quarter of 2022 of NVL shares caused this billionaire's assets to evaporate sharply to below 1 billion USD and he is no longer on the list of the richest people on the planet. Currently, NVL shares are only 14,000 VND, down nearly 85% compared to the beginning of 2022.

Thus, the list of USD billionaires in Vietnam has now returned to only 5 people like in 2021 instead of 6 people like in early 2022. The assets of the 5 USD billionaires on the current list alone have 'evaporated' nearly 6 billion USD in 2022. If we add the decreased assets of Mr. Bui Thanh Nhon, the number has increased to more than 8 billion USD.

Source: https://thanhnien.vn/tai-san-cac-ti-phu-usd-viet-nam-boc-hoi-bao-nhieu-trong-2022-1851538018.htm