The four Vietnamese billionaires on the list are Pham Nhat Vuong, president of Vingroup, Nguyen Thi Phuong Thao, CEO of Vietjet, and Tran Ba Duong, president of Thaco.

Ho Hung Anh, president of Techcombank

Meanwhile, Nguyen Dang Quang, president of Masan Group (MSN), was excluded from the list because of the sharp MSN price reduction from VND80,000 per share to VND48,300.

Ho Hung Anh, president of Techcombank, has also left the group of billionaires as his assets have dropped to $967 million.

The list of the world’s dollar billionaires announced recently by Forbes shows that the number of Vietnamese billionaires has fallen from five to three.

Vuong saw his assets decrease most sharply, roughly $2 billion over the last year. As of March 15, 2020, Vuong’s assets had dropped to $5.8 billion.

Enterprises have suffered heavily from Covid-19 and have seen their share prices sliding.

However, it is a big surprise that the prices of shares related to businessman Trinh Van Quyet have soared in the epidemic. FLC, for example, has increased by VND180 to VND3,930 per share, AMD to VND5,200, ROS to VND5,270.

Meanwhile, the price of HAI has increased to VND4,880 per share, KLF to VND2,000 and ART of BOS Securities to VND3,400. All these are the shares belonging to ‘FLC family’.

FLC has appointed Bui Hai Huyen, deputy CEO, to the post of CEO since March 19, 2020.

Huong Tran Kieu Dung, former CEO, is still at the post of vice president of FLC. She resigned from the post of CEO in order to focus on the group’s general planning and governance in core business fields, especially real estate.

Dung is still president of BOS and president of FLCHomes, the company with charter capital of VND4.16 trillion.

Quoc Cuong Gia Lai is another example showing that businesses can do well during the epidemic. While investors are fleeing from stocks, QCG of Quoc Cuong Gia Lai has seen the price increase by three times. The price of the share rose to VND10,900 per share by the end of March 19.

Since February 25, QCG price has soared by 205 percent from VND3,570 per share.

Meanwhile, Johnathan Hanh Nguyen, dubbed the ‘Branded goods King’, has received special attention from the public for his donation activities.

After spending VND10 billion, as estimated by the public, to hire a private jet for his daughter in the UK to return to Vietnam to avoid Covid-19, Nguyen spent VND10 billion to help the government combat the epidemic.

The businessman promised he would donate another VND30 billion, including VND25 billion to combat Covid-19 and VND5 billion to help Mekong Delta’s farmers struggling with drought and saline intrusion. 

Kim Chi

How much is needed to be listed among the top stock billionaires in Vietnam?

In 2009, when the VN Index soared from 324 points to the year's peak of 630 points, the richest stock billionaire had total assets worth over VND9 trillion. 

Vietnam's richest billionaire reports huge profits

More large corporations have released 2019 finance reports. The 2019 business season witnessed a boom of enterprises with the profit of over VND10 trillion.