With a net worth of $3.9 billion, the deputy chairwoman of Vingroup now ranks behind Nguyen Thi Phuong Thao, chairwoman of low-cost airline Vietjet Air, whose wealth stood at $4.1 billion Thursday afternoon, according to real-time data from Forbes.
|
Pham Thu Huong, deputy chairwoman of Vingroup. Photo courtesy of the company |
Huong’s wealth declined as shares of Vingroup, Vietnam’s largest listed company, plunged 13.8% from their record high in early September. Her net worth has fallen 5% in more than a month, while Thao’s fortune edged up 2.5%.
Vuong, who remains Vietnam’s richest man, also saw his wealth fall 5.5% over the same period to $36.6 billion.
Another Vingroup deputy chairwoman, Pham Thuy Hang, who is Huong’s sister, saw her fortune drop 6.9% to $2.7 billion, placing her fourth in Vietnam.
Among the remaining four billionaires, Tran Dinh Long, chairman of steel giant Hoa Phat Group, recorded an 8% decline in wealth to $2.3 billion. Techcombank chairman Ho Hung Anh’s fortune shrank 4% to $2.2 billion.
The wealth of Ngo Chi Dung, chairman of VPBank, and Nguyen Dang Quang, chairman of food producer and retailer Masan Group, remained unchanged.
Vietnam’s benchmark VN-Index fell 3.5% in September, defying analysts’ forecasts. Vingroup’s share price decline was among the biggest contributors to the index’s slide.
Vietnam’s stock market remains relatively weak, as reflected in low liquidity, poor market breadth and a high number of stocks falling to new lows, according to analysts at Yuanta Securities Vietnam.