Forbes has stopped updating the billionaire status of Ms. Nguyen Thi Phuong Thao.

The Vietnamese stock market has recovered quite impressively in the last few sessions with several positive developments such as: the government issuing Decree 08 amending and supplementing Decree 65 on corporate bonds; the Fubon fund of Taiwan (China) being licensed to raise an additional 4,000 billion VND to invest in Vietnamese stocks; and most recently, the news that China has resumed tourism with Vietnam.

Many tourism and airline stocks surged, including VietJet (VJC), owned by Ms. Nguyen Thi Phuong Thao. VietJet's VJC shares rose by 3,500 VND on March 9th to 101,800 VND per share.

As of March 9th, Forbes has stopped updating the real-time net worth of Ms. Nguyen Thi Phuong Thao. (Photo: FB)

However, according to Forbes' real-time rankings, the CEO of VietJet is no longer consistently updated on the list of USD billionaires.

As of the morning of March 9, 2023, Forbes no longer directly updates the changes in Ms. Nguyen Thi Phuong Thao's net worth. Her real-time net worth calculator reverts to April 4, 2022, based on the previous year's ranking. At that time, Ms. Thao's net worth was $3.1 billion.

Recently, in late February and early March 2023, Ms. Thao's net worth was $2.1 billion.

Previously, from mid-November 2022, Forbes also stopped calculating the assets of two Vietnamese billionaires, including Mr. Tran Dinh Long (Chairman of Hoa Phat Group) and Mr. Bui Thanh Nhon (Chairman of Novaland).

After a series of consecutive days of declining assets, on the morning of November 14, 2022, Forbes stopped directly updating the changes in Mr. Bui Thanh Nhon's net worth.

Previously, on November 11, 2022, Mr. Bui Thanh Nhon officially ceased to be a US dollar billionaire according to Forbes' list, as his net worth had dropped to only $946 million that same afternoon. As of March 9, 2023, Mr. Nhon was still not on Forbes' real-time list of US dollar billionaires.

Also on the morning of November 14, 2022, Forbes stopped directly updating the changes in the net worth of Mr. Tran Dinh Long, Chairman of Hoa Phat Group. In the trading session on November 10, 2022, Mr. Tran Dinh Long officially dropped out of Forbes' list of USD billionaires, with his net worth now only at $985.9 million.

However, in early 2023, the sharp rise in HPG shares brought Mr. Tran Dinh Long back onto this list.

Vietnamese billionaire loses billions of USD.

Net worth of 5 Vietnamese USD billionaires as of March 9, 2023. Chart: M. Ha

After a sharp increase in January 2023, many Vietnamese billionaires saw their assets decline in February and quiet down in early March, as investors had not yet seen signs of recovery from the real estate stock group.

Many other blue-chip stocks have also yet to recover.

According to Forbes, as of March 9, 2023, Vietnam has 5 USD billionaires, compared to 7 in the ranking from March 2022 (published in early April 2022).

Currently, the Vietnamese USD billionaires, according to Forbes' list, are: Mr. Pham Nhat Vuong (Chairman of Vingroup), Mr. Tran Dinh Long, Mr. Ho Hung Anh (Chairman of Techcombank), Mr. Tran Ba ​​Duong and his family (owner of Thaco, the automobile assembly and manufacturing company), and Mr. Nguyen Dang Quang (Chairman of Masan).

Mr. Tran Dinh Long surpassed Mr. Ho Hung Anh thanks to the strong recovery of Hoa Phat (HPG) shares earlier and the recent minimal downward correction. Large institutions continue to invest in HPG shares.

Statistics show that, as of March 9th, the combined net worth of all five Vietnamese USD billionaires is approximately $9.9 billion, lower than the $15.3 billion recorded in the ranking in March 2022.

Mr. Pham Nhat Vuong tops the list with $3.9 billion. Mr. Nguyen Dang Quang is at the bottom with $1.2 billion.

For the first time, VietJet, owned by billionaire Nguyen Thi Phuong Thao, reported a loss. For the entire year of 2022, VietJet recorded a net loss of over 2,171 billion VND, compared to a profit of nearly 122 billion VND in 2021.