Vietnam’s richest man off top 300 billionaires list

By Dat Nguyen   March 16, 2020 | 10:09 am GMT+7
Vietnam’s richest man off top 300 billionaires list
Pham Nhat Vuong, chairman of Vingroup. Photo acquired by VnExpress.

Pham Nhat Vuong is out of Forbes’ list of 300 richest people in the world as share values plummet amidst the coronavirus epidemic.

Vuong, chairman of Vietnam’s biggest listed company Vingroup, was ranked 301st on Forbes’ billionaire list Sunday, down from 239th place in March last year.

Although Vuong remains the richest man in Vietnam, his net worth has dropped 12 percent in the same period to $5.8 billion, Forbes estimates.

The 51-year old self-made billionaire directly owns 26 percent of Vingroup, according to Bloomberg data. Vietnam Investment Group JSC, in which Vuong has about a 92 percent stake, holds 31.6 percent of Vingroup.

Its VIC shares on Monday fell to VND92,500 ($3.97), lowest since November 16 last year, with major drops recorded since February when Vietnam declared the novel coronavirus outbreak an epidemic.

Three other Vietnamese billionaires have also seen their net worth fall.

Nguyen Thi Phuong Thao, CEO of budget carrier Vietjet, saw her net worth fall by 9 percent to $2.1 billion.

The net worth of Tran Ba Duong, chairman of Truong Hai Auto Corporation (Thaco), fell 12 percent to $1.5 billion, while that of Techcombank chairman Ho Hung Anh plunged 41 percent to $1 billion.

 
 
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