Billionaire Pham Nhat Vuong has just 'flown out' $ 27 billion after 1 night, being 'kicked' out of the top 2 richest people in Asia

The notorious billionaire of Vietnam - the tycoon of a series of famous business chains, Vingroup founder Pham Nhat Vuong has just made people stir, when his fortune suddenly dropped sharply, up to $ 27 billion overnight.

On the morning of August 30, people are extremely stirred by the news that Vietnam's notorious billionaire - Pham Nhat Vuong has just been discovered that his assets have plummeted, shares plunged the most in history after only 1 night of August 29. And yet, with this deep reduction, he also has to be 'kicked' out of the top 2 richest people in Asia. Netizens simultaneously bewildered, began to search for the reason.

Accordingly, the capitalization of the VinFast electric car brand owned by Mr. Pham Nhat Vuong has just lost more than 83 billion USD on August 29, a sharp decrease of 44%. The capitalization of this electric car company is officially only $ 107 billion. This is the deepest and most historic reduction phase of Pham Nhat Vuong, when the whole floor is also only this electric car company dropped the most.

Along with the development of VinFast, the billionaire's wealth level was also officially reduced. Accordingly, Pham Nhat Vuong made $ 27 billion 'flying' overnight. Bringing the current level of assets owned on the ranking down to $39 billion. According to the measurement table of Forbes magazine, with this terrible decrease in wealth, Pham Nhat Vuong has also officially been 'kicked' from the top 2 richest people in Asia, directly to 4th place. At the same time, Vingroup's chairman also dropped to 30th in the top of the richest billionaires on the planet.

The reason why Pham Nhat Vuong's shares fell sharply, according to experts, was due to great profit-taking pressure. Because before that, VinFast's shares have increased continuously for 6 days. After 2 hours of trading, the shares of this car company continued to fall, sometimes even down more than 27%, reaching the bottom of $ 60 / share.

Previously, at 7:45 on August 29 in the US, ie 18:45 in Vietnam, VinFast shares in the pre-opening trading session fell 12% compared to the previous day to 72.6 USD / share. This may be an indicator that in the session on August 30, VinFast shares will continue to fall. Mr. Pham Nhat Vuong through an intermediary and Vingroup holds 99% of VinFast shares. Meanwhile, the number of freely outstanding shares of VinFast is at a very low level with 4.5 million units compared to more than 2.3 billion listed VinFast shares.

The above information made many people constantly confused and deeply shocked. However, it is completely normal for stocks to rise and fall, changing from day to day. In fact, these figures do not affect too seriously Pham Nhat Vuong's real assets. Many people also believe that, despite the stock plunge, VinFast will surely quickly regain its position, capitalization will continue to increase again.

Pham Nhat Vuong is a businessman and billionaire, currently the Chairman of Vingroup. He was considered the first US dollar billionaire on the Vietnam stock exchange since March 7, 2011 with a net worth of about 21,200 billion Vietnamese dong equivalent to 1 billion US dollars at that time. Pham Nhat Vuong is extremely secretive, but extremely famous.

He is also the first Vietnamese billionaire to enter Forbes' list of the world's billionaires in 2013. As of May 10, 2018, Pham Nhat Vuong's fortune reached 6.9 billion USD, becoming the 242nd richest person in the world. Billionaire Pham Nhat Vuong is admired not so much for his wealth, but because he has done things that no one believes Vietnamese people can do.

Earlier in 2022, it was a tough year for many people, including the world's richest billionaires. According to Forbes, billionaires have lost more than $1.9 trillion, mainly due to plunging stock prices, higher inflation and slowing economic growth. According to Forbes statistics, the fortunes of six Vietnamese billionaires have "evaporated" more than $ 6.1 billion in the past one year when the stock market declined.

However, billionaire Pham Nhat Vuong's fortune "rose" after VinFast filed for IPO. VIC shares "climbed" in the session of 8/12, helping the value of Mr. Pham Nhat Vuong's assets increase sharply. In addition to having a positive impact on the overall market movement, the VIC price increase also helped improve the value of billionaire Pham Nhat Vuong's assets on the stock exchange.

Billionaire Pham Nhat Vuong "stores" billions of dollars in the safe Rosé11:45:00 29/07/2022Chairman of the Board of Directors of Vingroup - Pham Nhat Vuong was born on August 5, 1968, originally in Ha Tinh province. Currently, he is the leader in the list of USD billionaires in Vietnam. Statistics on the wealth of the rich on the Vietnamese stock market through the...