Pham Nhat Vuong, the founder of VinFast Auto Ltd. (NASDAQ:VFS), lost about $18 billion following a sharp decline in the company’s shares.

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Why It Matters: This rapid drop in share price led to a corresponding decrease in Vuong’s net worth, which fell about 52% to $21.2 billion over the same period. Despite this, Vuong remains significantly wealthier than he was before the company’s listing, as Bloomberg’s index hadn’t accounted for his stake in VinFast until the company completed its SPAC merger this week.

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