Hanoi (VNS/VNA) - Billionaire Pham Nhat Vuong has moved up in theForbes rich list as of October 25, 2018.
According to Forbes’ website, Vuong ranked 228th on the list of the world’srichest people, with a net worth of 6.5 billion USD.
This is the highest place ever for Vuong, owner of real estateconglomerate Vingroup and Vietnam’s first billionaire, reported the Lao Dong(Labour) newspaper.
The billionaire jumped up from 235th place two weeks ago. However, in the trading session on October 25, domestic stock indexes fellsharply due to global volatility.
As a result, a series of strong stocks slumped, including VIC of Vingroup ownedby Vuong.
This was the third consecutive session in which VIC has fallen. In the twoprevious sessions, the code decreased by 100 VND to 99,000 VND per share and 200VND to 98,800 VND on October 23 and 24, respectively.
On October 25, the price of VIC dropped by 2,000 VND to 96,800 VND per share.
After the reduction over several sessions, the total value of the billionaire’sassets dropped by 200 million USD.
Pham Nhat Vuong studied in Russia and started a popular instant noodle businessin Ukraine in the 1990s before moving back to Vietnam.
Vuong chairs Vingroup, one of Vietnam’s largest conglomerates with interests inreal estate, retail and health care among others.
He turned some investments into non-profit ventures, including some inhealthcare, education and sports. He also built a centre of contemporary art.-VNS/VNA
Two Vietnamese, Vingroup chairman Pham Nhat Vuong and Sovico Holdings chairwoman Nguyen Thi Phuong Thao, have featured in the Forbes’s 2017 world’s billionaires list.
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Billionaire Pham Nhat Vuong
