VinFast down to 80 billion USD, Mr. Pham Nhat Vuong waiting for new ranking

At the end of the trading session on August 31 on the Nasdaq floor (early morning of September 1, Vietnam time), VinFast Auto shares decreased by 15.9% to 34.71 USD/share.

Trading decreased compared to previous sessions, down to nearly 6.5 million units.

VinFast shares recorded the most active session on August 22 with more than 19.4 million shares transferred.

At this price, VinFast's capitalization drops to 80 billion USD and ranks 5th among the world's car manufacturers.

At the opening of the session on August 31 (US time), VinFast Auto shares of billionaire Pham Nhat Vuong continued to fall sharply, down 10-12% to $36/share. Trading was quieter than in previous sessions. The matched volume by 11:30 pm on August 31 (Vietnam time) reached more than 4 million units.

VinFast's capitalization dropped to 84 billion USD.

Billionaire Pham Nhat Vuong's assets also decreased accordingly. Previously, on August 30, Forbes unexpectedly adjusted billionaire Pham Nhat Vuong's assets to decrease sharply, not following the developments of VinFast shares like in previous sessions, causing many conflicting opinions.

*VinFast shares continue to fall sharply.*

Earlier, on the morning of August 30 (Vietnam time), Forbes reported that Mr. Pham Nhat Vuong's assets reached 39 billion USD, ranking him 30th on the list of the richest people on the planet. At that time, Mr. Pham Nhat Vuong was the 4th richest person in Asia and number 1 in Southeast Asia. However, Forbes later adjusted the calculation and sharply lowered Mr. Vuong's assets and ranking.

With a capitalization of 84 billion USD, VinFast ranks 4th among car manufacturers in the world, after Tesla (817 billion USD) of billionaire Elon Musk, Toyota (233 billion USD), German supercar manufacturer Porsche (101 billion USD) and China's largest electric car manufacturer BYD (96 billion USD).

VinFast still has a higher capitalization than the industry giants with a very long history of development such as: General Motors, Ford, Honda, Ferrari, Volkswagen, BMW, Mercedes-Benz...

*VinFast's capitalization is still 84 billion USD.*

VinFast forecasts sales of 45,000 to 50,000 units in 2023. Tesla estimates it could sell 2 million units this year, while BYD could reach 2.5 million units.

Domestically, as of August 31, Vietnam still had 6 USD billionaires according to the Forbes list. Following Mr. Vuong is Mr. Tran Dinh Long (Chairman of Hoa Phat Group) with assets of 2.3 billion USD.

VietJet Chairman Nguyen Thi Phuong Thao currently owns assets of 2.1 billion USD. Techcombank Chairman Ho Hung Anh has 1.6 billion USD. Mr. Tran Ba Duong Thaco and his family own assets of 1.5 billion USD. Masan CEO Nguyen Dang Quang has 1.2 billion USD.

VinFast 96 billion USD, how much assets does Mr. Pham Nhat Vuong have? At the end of the trading session on August 30 on the US Nasdaq stock exchange (early morning of August 31, Vietnam time), billionaire Pham Nhat Vuong's VinFast shares fell nearly 10.8% from the opening price of 46.25 USD to 41.27 USD/share.

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