The deputy chairwoman of Vietnam’s biggest listed company, Vingroup, saw her net worth plunge by $191 million on Monday, a decline of more than 4%, according to real-time data from U.S. magazine Forbes.
As of Tuesday morning, she had a fortune of $4.3 billion, ranking 1,016th in the world, compared to $4.5 billion on Sunday, when she ranked 963rd.
The drop came as Vingroup shares declined from their historic peak on Sep. 4. As investors took profits, the shares have fallen nearly 4.8% to around VND243,700 (US$9.35) apiece.
Huong has also fallen to third place among Southeast Asia’s richest people, down from second. She is surpassed by Indonesia’s data center mogul Marina Budiman, with a net worth of $6 billion, and Thailand’s diversified billionaire Somurai Jaruphnit, with $4.4 billion.
Forbes first included Huong in its annual billionaire ranking in February, when she placed 1,406th globally. Her wealth is primarily sourced from her 4.4% stake in Vingroup.
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Pham Thu Huong, Deputy chairwoman of Vingroup. Photo courtesy of Vingroup |
She has a master’s degree in international law from Ukraine and also serves as chairwoman of ride-hailing company Green SM.
Her husband, Pham Nhat Vuong, Vingroup chairman, is the richest man in Southeast Asia based on Forbes’ real-time data, with a net worth of $37.8 billion. His fortune also fell by almost 4% Monday due to the decline of Vingroup shares.
Together, the couple owns a 9.85% stake in LPBank, one of Vietnam’s 10 biggest lenders by market cap.