return icon Vietnamnet.vn

Vietnamese billionaires’ net worth increases after battling headwinds of 2020

2020 was a difficult year for the global economy including Viet Nam, but some Vietnamese billionaires still saw their net asset value increase.

 

Six richest people in Viet Nam as of January 6.

According to Forbes, besides five familiar faces which were included on its World Billionaires list in 2019, there is the return of one businessman – Tran Dinh Long. The recovery of Viet Nam’s stock market at the end of 2020 after tumbling in March contributed to the positive result.

The VN-Index ended the last trading day of 2020 at 1,103.87 points, rising nearly 15 per cent compared to the beginning of the year.

As of January 6, Pham Nhat Vuong, chairman of Vingroup (VIC), is still the richest man in Viet Nam, with a net worth of US$7 billion, an increase of US$139 million compared to the day before. VIC shares traded at VND110,000, up 0.27 per cent in the morning trading session.

The CEO of budget carrier Vietjet Air (VJC), Nguyen Thi Phuong Thao, remains the second richest person in Viet Nam with total assets of US$2.5 billion, down US$33 million from the day before. The airline industry has been hit hard due to COVID-19 with all commercial international flights halted. The price of VJC shares was at VND123,900 in the morning session on Wednesday, down 0.72 per cent.

List of richest people in Viet Nam as of January 6 by Forbes.

 

Tran Dinh Long, chairman of the board of Hoa Phat Group, has returned to the race, ranking 1,455th in the magazine’s list and becoming the third richest man in Viet Nam. As of January 6, his assets value increased US$17 million to US$2.1 billion.

Hoa Phat produced near 5.2 million tonnes of steel in the first eleven months of 2020 and sold more than 3 million tonnes of construction steel to the market, up 23.7 percent year-on-year, according to Hoa Phat’s website.

Ho Hung Anh, chairman of Techcombank, is 1,628th in the current ranking with total assets of US$1.8 billion, increasing US$18 million.

Thanks to the recovery of the stock market, Masan’s share prices increased sharply in the last months of 2020 which helped founder Nguyen Dang Quang’s net worth rise US$33 million to US$1.5 billion.

After a deal to acquire retail system VinCommerce at the end of 2019, the price of Masan shares fell dramatically and hit a bottom last April. But it recovered and in the last trading day of 2020, the company’s shares price was up more than 50 per cent compared to the beginning of the year to VND85,500.

In the morning trading session, the shares traded at VND89,500, up 0.22 per cent.

Meanwhile, Tran Ba Duong, chairman of the Truong Hai Auto Corporation (THACO), and his family saw the value of his assets unchanged at US$1.5 billion as of January 5. He and his family rank at 1,905th in the world’s richest person list.

However, not all business people could weather the chaotic year.

Trinh Van Quyet, president of FLC Group (FLC) and Bamboo Airways, saw his assets drop under US$1 billion at the end of 2020. He was the richest person in Viet Nam in 2017 and has been listed in the top three richest people in Viet Nam a number of times.

He withdrew as board chairman of FLC Faros Construction in April, when the market was hit hard by COVID-19. FLC shares traded at VND4,470 on Wednesday morning, down 0.45 per cent. — VNS

Billionaire businesspeople donate millions of dollars to local charities during COVID-19

Billionaire businesspeople donate millions of dollars to local charities during COVID-19

Vietnamese businesspeople have donated billions of dong to charitable activities during the COVID-19 crisis.

The turning points in the lives of Vietnamese billionaires

The turning points in the lives of Vietnamese billionaires

Once dreaming of becoming a university lecturer, Nguyen Thi Phuong Thao finally became a businesswoman and billionaire. Others became billionaires though they did not complete or even attend university.

MORE NEWS

Carbon market to help achieve net zero emissions

Greenhouse gas emissions in Vietnam increased rapidly over the past three decades in direct proportion to the economy’s growth.

VIETNAM NEWS HEADLINES SEPTEMBER 29

Buckwheat Flower Festival returns to Ha Giang in November

Vietnam welcomes 1.87 million foreign visitors in nine months

Vietnam welcomed about 1.87 million international arrivals in the first nine months of this year, 16.4 times higher than the same period last year but much lower than that in the same time in 2019 before COVID-19 broke out.

Close to 123,000 sea turtles released back to sea

The Con Dao National Park in the southern province of Ba Ria-Vung Tau released 122,867 baby turtles into the ocean between January and September.

Vietnamese, Danish friendship blossoms over the years

Many foreigners have enjoyed diverse landscapes, authentic local food, endless love, eternal friendship, and a favourable investment environment in Vietnam.

China imports less glutinous rice from Vietnam

The proportion of glutinous rice in total rice exports to China has fallen from 74 percent to 48 percent.

Vietnamese artists to appear in Norwegian play

Several talented local artists from the Vietnam Youth Theater have been invited to perform in 'Hedda Gabler', a classic play which is considered to be one of the outstanding works of Norwegian writer Henrik Ibsen.

Minor improvements seen in the transparency of provincial budgets

The average ranking of budget transparency for localities in 2021 was 69.53 points out of 100, a rise of just 0.44 points compared to 2020.

Pianist Nguyen Dang Quang returns home for concert of classical music

Piano player Nguyen Dang Quang, son of composer Quoc Trung and renowned artist Thanh Lam, is a fresh and promising presence at the event.

VN central bank acts to tighten the Vietnamese dong liquidity

A recent money market report of Saigon Securities Incorporation (SSI) showed the SBV last week net withdrew a total of VND34.6 trillion through the OMO channel.

Vietnam needs to improve human resources in digital age: World Bank

To reach the goal of becoming a high-income country by 2045, Vietnam needs to quickly improve the quality and quantity of its human resources.

Vietnam’s GDP rises by 13.67% in third quarter: statistics office

Vietnam’s gross domestic product (GDP) grew by 13.67% in the third quarter, according to the General Statistics Office (GSO).

Ministry of Culture demands strict supervision of beauty contests

Culture, Sports, and Tourism Minister Nguyen Van Hung has signed a directive strengthening state supervision of a variety of cultural and artistic activities, including beauty pageants and modelling contests.

VIETNAM BUSINESS NEWS SEPTEMBER 29

Vietnam to become “new Asian tiger”: Italian journal

Vietnam to become the worlds chip production center

In the first eight months of this year, phones and electronic components have the most prominent export turnover in our country, reaching nearly 40 billion USD.
back_to_top