If One Day Your Stock Account Drops by a Billion, Don’t Worry Because There Are People Who Have Lost Thousands, Tens of Thousands of Billions

On October 20, the Vietnamese stock market experienced a significant drop, with the VN-Index declining a record 94.76 points (5.47%) to 1,636.43 points. Most stocks fell to their floor prices, resulting in massive losses for several billionaires. Specifically, Pham Nhat Vuong, the richest man in Vietnam, lost 20.4 trillion VND (4.5%), equivalent to 728 million USD, according to Forbes. Billionaires like Tran Dinh Long, Ho Hung Anh, and Nguyen Dang Quang also saw significant drops in their fortunes: 3.9 trillion, 2.1 trillion, and 1.9 trillion VND, respectively. In contrast, female billionaire Nguyen Thi Phuong Thao only saw the least reduction at 400 billion VND (1%). The total asset losses of billionaires on this dark day highlight the severe impact of the stock market on investors.