The number of billionaires in Vietnam has fallen to four in Forbes’ latest list of the world’s richest people.
The four who have remained in the list are Pham Nhat Vuong, owner of Vietnam’s biggest real estate conglomerate Vingroup; Nguyen Thi Phuong Thao, CEO of budget carrier Vietjet Air; Tran Ba Duong, chairman of Truong Hai Auto Corporation (Thaco) and Ho Hung Anh, chairman of Techcombank.
By late Monday, Pham Nhat Vuong’s asset value decreased to USD5.8 billion, standing at the 299th in the Forbes list against USD10 billion and at the 239th by the end of last year.
Nguyen Thi Phuong Thao’s asset value has declined by USD200 million to USD2.1 billion. Tran Ba Duong and Ho Hung Anh now owns just USD1.5 billion and USD1 billion respectively.
Meanwhile, Nguyen Dang Quang, Chairman of Masan Group has dropped out of the Forbes list as Masan shares has decreased by roughly 40% over the past year to just VND41,800 per share.
The Vietnamese stock market has been hard hit by Covid-19 epidemic.
Shares in the local market have suffered more steep falls particularly since the World Health Organisation declared COVID-19 as a pandemic.