Two Vietnamese businessmen have been no longer Forbes billionaires after their stocks continued sharply falling on the Ho Chi Minh Stock Exchange (HoSE).
Chairman of Novaland Group, Bui Thanh Nhon
Chairman of property giant Novaland Group, Bui Thanh Nhon, saw his net worth decline to USD 978.20 million on Friday as his company's shares hit the floor price for a seventh straight session.
NVL shares have seen a run on the stock market in recent days, and after the Friday session, Nhon has dropped out of the Forbes billionaires list.
On Thursday, chairman of steelmaker Hoa Phat, Tran Dinh Long, also dropped out of the Forbes list after his net worth plunged by over USD2.2 billion to USD 963.10 million. The figure continued falling to USD 954.70 after the Friday session.
In a document sent to the HoSE on November 9, Novaland Group management board explained that NVL had performed poorly for the last five sessions due to market sentiment and negative macroeconomic impacts.
On Friday it closed at VND 41,850. It had risen to VND92,000 in June last year.
Vietnam now has five billionaires left including Pham Nhat Vuong – owner of Vingroup, Nguyen Thi Phuong Thao – CEO of VietJet Air, Ho Hung Anh – chairman of Techcombank, Nguyen Dang Quang – chairman of Masan, and Tran Ba Duong – chairman and founder of Truong Hai Auto Company, but their net worth is steadily declining due to the falling local stock market.
- Fish sauce magnate off Forbes billionaires list
- Trump's fortune slides by $600 mln on Forbes wealth list
- Journalists Strike Over Unpaid Salaries at Lebanese Newspaper Linked to Embattled PM's Billionaire Family
- Mukesh Ambani's wealth equals Estonia's GDP: Forbes
- Salman Khan tops Forbes’ richest Indian celebrity list for third time, Shah Rukh drops out of top 10
- Four Vietnamese billionaires on Forbes list
- Nusli Wadia richest newcomer on Forbes India Rich List
- Booker on Harris dropping out: 'Iowa voters should have the right to choose'
- This tech billionaire does not know how much cash he has
- Weekly roundup: Vietnamese coffee in Belfast, territorial tensions, weekend downpour, and more
- A Year in Showbiz: Court Drama, Box Office Records and a Young Billionaire
- Notorious Billionaire Pedophile Jeffrey Epstein Funded This ‘Women’s Empowerment’ Advocate
- Cowboys top Forbes' most valuable teams list, ahead of Real Madrid and Barcelona
- Forbes lists Colorado Rapids as lowest valued franchise in MLS
- Billionaire Michael Bloomberg would face a steep climb in the 2020 presidential race
- The Billionaire Pedophile Who Could Bring Down Donald Trump and Hillary Clinton
- Is F1 Billionaire Eyeing Up A Bid For Aston Martin?
- Swalwell drops out of presidential race, announces House reelection bid
- Rupert’s Fingers Already Closing Around the Heart of the ‘Journal’
- Dangote retains Africa’s Richest Man title
Vietnamese businessmen drop out of Forbes billionaire list have 434 words, post on dtinews.vn at November 12, 2022. This is cached page on Talk Vietnam. If you want remove this page, please contact us.