Chairman of Masan Group Nguyen Dang Quang loses US$4 million in his assets since March 2019. — Screenshot from Forbes

Data from the local stock market shows continuous declining sessions pulled Masan's shares (MSN) down from a peak of VND91,000 ($3.9) in May to VND56,500 on the last working day of December.

Also a newcomer to the list, Ho Hung Anh, chairman of Viet Nam Technological and Commercial Joint Stock Bank (Techcombank), lost $3 million and 421 places in the ranking. He now ranks 1,770th in the list with assets of $1.4 billion.

Last year, Techcombank recorded pre-tax profit of nearly VND10.7 trillion, an year-on-year increase of 31 per cent. The bank is the second largest bank in Viet Nam after State-owned bank Vietcombank.

According to Forbes, both Masan and Techcombank are major institutions in Viet Nam, ranked in the top 10 largest enterprises on the HCM Stock Exchange. Techcombank chairman Hung Anh and Masan chairman Quang used to manage both Techcombank and Masan. Last year, Hung Anh withdrew from Masan's vice chairman position to focus on Techcombank under the local banking industry’s regulations. Quang, on the other hand, is still vice chairman of Techcombank.

Not losing a penny from the assets last year, chairman of Thaco – the biggest car company in Viet Nam – Tran Ba Duong and his family still have $1.7 billion. But they lost 128 places in list to rank 1,477th.

Vingroup Chairman Pham Nhat Vuong, who is still the richest man in Viet Nam with $7.6 billion in assets, added another $1 billion to his assets but fell 13 places and now ranks 242nd in the list. At certain points last year, Vuong was among the 200 richest people on the planet.

Vingroup chairman Pham Nhat Vuong. — Screenshot from Forbes website

Earlier, Vuong shared with Bloomberg that he would spend $2 billion of his personal assets by selling a 10 per cent stake in Vingroup to bring the group’s car of VinFast to the US market.

Viet Nam's first female billionaire Nguyen Phuong Thao became richer and has a higher rank. Thao’s assets increased by $4 million to reach $2.7 billion and she is up 73 places from last year to rank 935th.

Thao’s budget airline, VietJet Air, which offers more than 300 flights a day, operates some 40 per cent of the nation's flights and became public in February 2017. She also has investments in HDBank and real estate.