Vietnam Tycoon Loses $18 Billion After EV Maker’s Shares Sink
- Vietnam’s richest man Pham Nhat Vuong is now worth $21 billion
- EV maker VinFast’s shares fell sharply over past three days
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VinFast Auto Ltd.’s wild debut as a publicly traded company brought its founder along for the ride.
The Vietnamese electric-vehicle maker’s shares closed at $15.40 Friday, ending a roller-coaster week that saw the stock spike 255% to $37.06 on Tuesday, its first day of trading on the Nasdaq after merging with a blank-check company. That was followed by three days of declines.