Friday , June 21 2024

Vietnamese billionaires see net worth rise by 15 pct in 2021

The total net worth of Vietnamese billionaires has increased by nearly $2.6 billion, or 15 percent, since the last Forbes’ Billionaires update in April, to a combined $19.3 billion due to surging stock prices.

Pham Nhat Vuong, chairman of conglomerate Vingroup and the richest person in Vietnam, saw his assets increase by $100 million to $7.4 billion though his company’s stock (VIC) has lost 25 percent from its April peak of VND128,000 ($5.59).

His net worth has risen by 4.9 times since 2013.

Tran Dinh Long, chairman of steelmaker Hoa Phat Group, returns to U.S. magazine Forbes’ Vietnam billionaire list after failing to make it last year.

His net worth has risen by 36 percent to $3 billion, making him the country’s second richest person.

The Hoa Phat stock was bullish in the first 10 months of the year thanks to rising steel prices, but has lost 21 percent since then.

Ho Hung Anh, chairman of Techcombank, the country’s largest private lender, saw his net worth surge 62 percent to $2.6 billion.

Nguyen Thi Phuong Thao, CEO of budget airline Vietjet, was the only one in the list to saw her net worth decline: With the aviation industry still struggling to recover without international flights, she has become nearly 11 percent poorer since April.

The carrier’s share price has lost 1 percent this year though the VN-Index is up 34 percent.

The net worth of Nguyen Dang Quang, chairman of Masan Group, has skyrocketed by 83 percent after the MSN ticker gained 95 percent this year as demand for essential goods rose during the months of social distancing.

The last place in the billionaires’ list is occupied by Tran Ba Duong, chairman of Truong Hai Auto (Thaco), and his family whose net worth of $1.6 billion has remained the same since the beginning of the year.

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