THD lost its value dramatically, Mr. Nguyen Duc Thuy fell out of the Top 10

May 1, 2022 07:37 GMT+7

With the market plunging throughout April, the wealth of securities billionaires has also plummeted. Notably, the Top 10 securities billionaires had a disturbance after the shocks of the market. Mr. Nguyen Duc Thuy – Founder of Thaiholdings, Vice Chairman of the Board of Directors of LienVietPostBank – was no longer in the Top 10 after THD’s share price dropped dramatically.

From the 9th position at the beginning of the month, Mr. Nguyen Duc Thuy has now dropped to the 12th position in the list of the richest people on the stock exchange. Mr. Thuy’s asset value through THD and LPB shares has plummeted by more than 4,500 billion dong, to 10,980 billion dong.

Both stocks owned by a businessman from Ninh Binh province depreciated sharply in April. THD fell 31% to 118,000 dong/share, causing Mr. Thuy to lose more than 4,400 billion dong, while LPB fell 16% to 16,000 dong/share after the end of the month.

THD stock dropped sharply and showed no sign of stopping.

With 10 faces in the current ranking, billionaire Pham Nhat Vuong is still at the top with a fortune of 172,500 billion VND, down 2,500 billion VND (1.48%) in April.

Mr. Tran Dinh Long, Chairman of the Board of Directors of Hoa Phat Group, also experienced a decrease of VND 2,100 billion in April after HPG shares fell 4%. Currently, Mr. Long’s asset value at HPG is VND 50,505 billion, ranking second in the Top 10.

Meanwhile, Ms. Vu Thi Hien (Mr. Long’s wife) is also in the Top 10 with 9th place. Mrs. Hien’s asset value at HPG has decreased by 590 billion VND, to 14,200 billion VND.

Two billionaires Ho Hung Anh (Chairman of Techcombank) and Nguyen Dang Quang (Chairman of Masan Group) have long held the fourth and fifth positions. Both of them recorded an “evaporation” of assets of 970 and 819 billion dong, respectively, after TCB and MSN both reduced their prices in the month. Currently, the asset value of these two giants at TCB and MSN is VND 36,600 billion and VND 36,008 billion, respectively.

Ms. Nguyen Thi Phuong Thao, CEO of Vietjet Air, still holds the familiar sixth position with a fortune of VND 33,187 billion. This asset class has plummeted by VND 2,700 billion in the past month after the share price of HDB and VJC owned by Ms. Thao fell 10.7% and 7.5%, respectively.

However, Ms. Thao is still far behind Mr. Bui Thanh Nhon’s 7th position by a large distance. After reducing the ownership rate in Novaland (NVL), Mr. Nhon’s asset value is only 22,600 billion VND. Even so, Mr. Nhon is the only one in the Top 10 that recorded an increase in assets after the end of April with an increase of VND 524 billion thanks to a 2.3% increase in NVL.

Meanwhile, Mr. Nguyen Van Dat, Chairman of Phat Dat Real Estate Development Joint Stock Company (PDR) recorded a decrease of VND870 billion in assets in the past month after PDR shares fell 5.4%. Currently, the value of assets held by Mr. Dat through PDR is VND 15,133 billion.

The other person in the Top 10 is Mr. Ho Xuan Nang, Chairman of Phenikaa Group. Vicostone’s VCS share price dropped 13% in the past month, causing Mr. Nang’s assets to plummet by 1,900 billion dong, to 14,300 billion dong.

Thus, along with the decline of VN-Index, the withdrawal of cash flow from the market, up to 9/10 richest people on the stock exchange recorded a decrease in assets in April. “Sell in May and go away” is a stock investment strategy based on the theory applied by Western stock investors. However, this effect happened to Vietnam’s stock market since April.

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