Vingroup Share Drop Ranks Pham Thu Huong Third on Vietnam Rich List
Deputy chairwoman Pham Thu Huong's net worth fell to $3.9 billion as Vingroup shares plunged 13.8% from early September highs, while Vietjet Air's chairwoman gained.
Vingroup Deputy Chairwoman Slips in Rankings
Pham Thu Huong, deputy chairwoman of Vingroup, has moved from second to third place on Vietnam's richest list. Her net worth now stands at $3.9 billion, a change attributed to a decline in the company's share price.
This shift places her behind Nguyen Thi Phuong Thao, chairwoman of low-cost carrier Vietjet Air, whose wealth reached $4.1 billion on Thursday afternoon, according to real-time data from Forbes.
Vingroup's Share Performance Impacts Family Wealth
Vingroup, Vietnam’s largest listed company, saw its shares fall 13.8% from their peak in early September. This market movement led to a 5% decrease in Pham Thu Huong's net worth over more than a month. Her husband, Pham Nhat Vuong, who remains Vietnam's wealthiest individual, also experienced a 5.5% reduction in his fortune, which now totals $36.6 billion.
Pham Thuy Hang, another Vingroup deputy chairwoman and Ms Huong's sister, recorded a 6.9% drop, bringing her wealth to $2.7 billion and placing her fourth nationally. In contrast, Ms Thao's fortune increased by 2.5% during the same period.
Broader Market Weakness in September
Vietnam's benchmark VN-Index declined by 3.5% in September, performing below analysts' expectations. The significant drop in Vingroup's share price was a primary contributor to this index slide. Among other billionaires, Tran Dinh Long, chairman of Hoa Phat Group, saw his wealth fall 8% to $2.3 billion, while 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 Masan Group, remained stable. Analysts at Yuanta Securities Vietnam noted the market's continued weakness, citing low liquidity and a high number of stocks reaching new lows.
The substantial influence of Vingroup's performance on the VN-Index shows the concentrated nature of Vietnam’s equity market. Investors should track Vingroup's share stability as a key indicator for broader market sentiment and the overall health of the benchmark index.
The sustained low liquidity and poor market breadth, as identified by Yuanta Securities Vietnam, suggest that a significant market recovery may require more than isolated company gains. Monitoring the next official liquidity data release will offer clearer insight into investor participation levels.
This article is journalism, not investment advice; consult a licensed professional before making financial decisions. Market data is indicative, may be delayed, and should be verified with your broker or exchange before use.
Comments.
Comments are moderated. We remove what is unlawful, abusive or off-topic, and and you remain responsible for what you post.
Reader comments open soon. Until then, corrections and responses go to our newsroom, and we publish what we get wrong on Corrections.