Which Vietnamese tycoon has lost the most money since the beginning of the year?

The recent fluctuations in the stock market and corporate stock prices have negatively impacted the assets of Vietnamese tycoons on the stock market. Many tycoons have lost tens of billions of dong in a short period of time.

After losing the position of richest person on the Vietnamese stock market to tycoon Trinh Van Quyet at the end of 2017, since the beginning of 2018, the increase in Vingroup Corporation (VIC) shares has quickly helped Mr. Pham Nhat Vuong regain this position.

More than 876 million shares (27.45% of capital) held by billionaire Vuong at Vingroup currently have a market value of more than VND94,000 billion. This asset has increased by nearly VND38,000 billion compared to the beginning of the year.

In fact, at the current price of approximately VND107,000/share (the new price adjusted for dividends), VIC shares have also decreased by more than 21% compared to the peak in April, but still increased by more than 36% compared to the beginning of the year. This price increase not only helps the company's capitalization increase rapidly but also helps Mr. Vuong's assets on the stock market add tens of thousands of billions of VND.

This asset is 3 times higher than that of billionaire Nguyen Thi Phuong Thao. Ms. Thao currently has assets on the stock market of more than 30,000 billion VND and is ranked 2nd in the list of richest people on the Vietnamese stock market. In April, when VIC was at its highest price, Mr. Vuong's assets exceeded 110,000 billion VND.

According to statistics ofForbes Magazine,Billionaire Pham Nhat Vuong currently owns a net worth of up to 6.8 billion USD, an increase of more than 2.5 billion USD compared to the ranking announced by this magazine at the beginning of the year. He is ranked 499th in the world's super-rich group.

Two "female generals" at Vingroup, Ms. Pham Thu Huong (Mr. Vuong's wife) and Ms. Pham Thuy Hang (Mr. Vuong's sister-in-law), also increased their assets by thousands of billions of VND and improved their position on the list of rich people.

Specifically, Ms. Huong's assets increased by nearly 6,000 billion VND compared to the beginning of the year, up to 16,000 billion VND and ranked 5th. Ms. Hang ranked 6th with assets of nearly 10,500 billion VND.

The tycoon who has lost the most money since the beginning of the year is Mr. Trinh Van Quyet, Chairman of the Board of Directors of FLC Group Joint Stock Company (FLC). From the position of the richest person on the Vietnamese stock market, with assets of more than 58,000 billion VND at the end of 2017, the tycoon Trinh has fallen to 4th place, with assets "shrinking" to only more than 17,000 billion VND today.

The reason for the "money loss" of the FLC boss was due to the sharp decline in the shares of FLC Faros Construction Joint Stock Company (ROS), which contributed up to 98% of the total assets on the stock exchange of this tycoon.

Over the past 6 months, ROS has plummeted from a price range of nearly VND150,000/share (adjusted) to more than VND40,000/share currently, a decrease of nearly 3.5 times.

In fact, in the last 10 trading sessions, ROS has decreased in price 9 sessions, with 3 sessions having the largest decrease and losing 34% of its market value.

As both chairman and largest shareholder of Faros, Mr. Quyet currently holds more than 382.2 million shares (67.34% of capital). The sharp decline in ROS has caused this tycoon to lose nearly 41,000 billion VND in just half a year, equivalent to 1.8 billion USD.

Although he did not lose billions of dollars like Mr. Quyet, billionaire Tran Dinh Long, Chairman of the Board of Directors of Hoa Phat Group Joint Stock Company (HPG), who was recentlyForbeshonored at the beginning of the year, also lost thousands of billions of dong due to HPG shares falling in price in the past few months.

Specifically, the recent decline of nearly 20% in HPG's market value has caused Mr. Long's assets to lose nearly 10,000 billion VND compared to February. Compared to the beginning of the year, Mr. Long's assets still increased by 3,000 billion VND. This billionaire is currently ranked 3rd in the group of richest people on the stock market with more than 21,000 billion VND in assets.

Similar is the case of tycoon Bui Thanh Nhon, Chairman of the Board of Directors of Novaland Group. Mr. Nhon has dropped one place to 7th place, with assets of nearly 9,600 billion VND.

The last 3 positions in the group of 10 richest people on the stock market currently belong to Ms. Vu Thi Hien (Mr. Long's wife) with 6,100 billion VND; Ms. Nguyen Thi Thanh Thuy (Mr. Ho Hung Anh's wife, Chairman of Techcombank) with 5,900 billion VND and Mr. Nguyen Duc Tai, Chairman of the Board of Directors of Mobile World Investment Joint Stock Company (MWG), with 5,500 billion VND in assets.