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Vietnam tycoon loses $18 billion...

After an astronomical rise in its...

Vietnam tycoon loses $18 billion after EV maker’s shares sink

After an astronomical rise in its first day of trading, VinFast Auto Ltd. is now coming back to Earth — erasing a chunk of its billionaire founder’s fortune.The Vietnamese electric vehicle-maker has fallen sharply over the two most recent trading days in New York, eliminating more than half of the 255% gain it notched on Tuesday when it listed on the Nasdaq Global Select Market.At $46.4 billion, VinFast’s market capitalization is still just above that of General Motors Co. Chairman and founder Pham Nhat Vuong, who controls all...

Karl Jörg - August 18, 2023

Business Profiles

Vietnam tycoon loses...

After an astronomical rise in its first day of trading, VinFast Auto Ltd. is now coming back to Earth — erasing a chunk...

Karl Jörg - August 18, 2023

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