How did the wealth of Vietnam's 6 billionaires change in 2024?

The group, whose fortune totaled $13.4 billion as of Dec. 30, comprises conglomerate Vingroup chairman Pham Nhat Vuong, VietJet Air chairwoman Nguyen Thi Phuong Thao, steelmaker Hoa Phat chairman Tran Dinh Long, Techcombank chairman Ho Hung Anh, automaker Thaco chairman Tran Ba Duong, and retailer Masan chairman Nguyen Dang Quang.

Vuong, the country’s wealthiest person, saw his net worth drop from $4.3 billion last year to $4.1 billion, a seven-year low. He owns more than 691 million shares of Vingroup, whose price fell by 9% in 2024. He ranks 832nd globally.

The assets of Duong and Quang fell by $200 million each to $1.2 billion and $1 billion. They rank 2432nd and 2697th globally, respectively.

Quang, in particular, has been frequently entering and exiting Forbes' rankings since 2019, when he was first featured. He exited the list last October and returned earlier this year.

But the other three increased their wealth this year, with Thao’s seeing the highest growth of $700 million to $2.9 billion. Thao currently ranks as the 1,187th richest billionaire in the world.

Hoa Phat and Techombank stocks performed well in 2024, boosting Long and Anh’s wealth by $600 million and $300 million to $2.4 billion and $1.8 billion. Their global rankings are 1,401st and 1,834th, respectively.