The number of Vietnamese billionaires in US dollar has dropped to five in the early months of 2024 from the previous six, reported in April 2023.

Forbes updates the list of the richest billionaires in Vietnam in 2023.

The economic group owned by Trinh Trung Uy, dubbed the Quang Ninh tycoon, owns the largest pair of 6-star super-luxurious yachts, worth $35 million, in Vietnam.

While many businesspeople are seeing their stock assets decrease sharply, Truong Gia Binh, a technology billionaire, is reaping fruit.

There is no formula, but there are common characteristics that economic groups such as IPP Group, Vingroup, Masan Group, Thanh Thanh Cong, BRG and Doji share.

Vietnam has many powerful business empires, described as the backbone of the national economy.

Vietnam has many powerful business empires which have been described as the backbone of the national economy.

Vietnamese USD billionaires saw their value fall sharply in 2022 because of decreased stock prices. Vingroup’s Pham Nhat Vuong lost US$2.1 billion, while Bui Thanh Nhon was excluded from Forbes’ list of billionaires.

The shares of companies owned by Vietnamese billionaire families have lost value, causing big losses.

Two Vietnamese businessmen have been no longer Forbes billionaires after their stocks continued sharply falling on the Ho Chi Minh Stock Exchange.

The stock market is fluctuating, which is leading to changes in Vietnam’s USD billionaires’ positions. Pham Nhat Vuong has lost $2.3 billion, but still ranks at the top. Tran Dinh Long has fallen to the bottom of the list.

Globally-renowned business magazine Forbes recently released its November list detailing a list of the world’s billionaires, including seven Vietnamese billionaires.

The fastest growing market for centi-millionaires, who boast US$100 million or more in investable assets, over the next decade is forecast to be Vietnam, according to The Centi-Millionaire Report.

Some banking billionaires are seeing their stock assets fall because of decreasing share prices following news about corporate bonds and real estate.

Do Anh Tuan, a businessman from Thanh Hoa, has surpassed the asset value of famous billionaires, including Ho Hung Anh and Tran Dinh Long, with stock assets of VND34.318 trillion.

Billionaire Tran Dinh Long’s assets have fallen by $1.6 billion this year, while billionaire Pham Nhat Vuong has lost $2 billion.

In the latest list of world billionaires in 2022 announced by Forbes magazine (USA), Vietnam has a new billionaire - Nova Group Chairman Bui Thanh Nhon.

The HPG shares of Hoa Phat Group have seen a fall in price to VND35,900 per share, while billionaire Tran Dinh Long fell from the second position on the list of Vietnamese stock billionaires.

Forbes has announced its list of 2,668 billionaires in the world in 2022, including seven Vietnamese executives.