Logo
Home
language
Privacy Policy·Terms of Service
HomeVocabReadIELTS

Reading

Asian Tech Billionaires Hit Hard by AI‑Driven Stock Slumps
Business · B1 · 2 min read

Asian Tech Billionaires Hit Hard by AI‑Driven Stock Slumps

Tỷ phú công nghệ châu Á 'cháy' tiền do cổ phiếu AI lao dốc

Source: Vnexpress

The latest market swing shows how quickly AI‑related stock moves can affect even the wealthiest people in Asia. On Tuesday, three Asian billionaires ranked among the five biggest single‑day losers worldwide, making this story worth a closer look.

Forbes reported that Masayoshi Son lost $4.2 billion, a 6.9 % drop, as SoftBank’s shares fell 5.24 % on Tuesday, reducing his net worth to $56.2 billion and placing him 34th globally. SoftBank’s stock dip is part of a broader AI‑related weakness this month. According to the source, this weakness is linked to concerns over the company’s high debt levels.

Robin Zeng, founder and CEO of Contemporary Amperex Technology (CATL), saw his fortune shrink by $2.4 billion, a 5.3 % fall, bringing his net worth to $43.3 billion and ranking him 47th worldwide. CATL’s shares dropped 2.6 % on Tuesday and are down 31 % year‑to‑date. The battery maker remains the world’s largest, but its stock has been pressured.

Vietnamese tycoon Pham Nhat Vuong experienced a $1.4 billion loss, a 4 % decline, leaving his net worth at $32.4 billion after Vingroup shares fell to a two‑month low on Monday. The shares have been sliding since reaching a historic peak in early September, amid the group’s expansion into electric cars and infrastructure projects. Vuong’s loss placed him among the top five single‑day wealth losers.

The same AI‑driven market turbulence also hit Bernard Arnault and Thomas Peterffy, who lost $1.9 billion and $1.5 billion respectively. It shows how quickly tech‑related price swings can erase billions from even the richest investors.

You finished this article

Words from this article

8 recommended words · 0 looked up

Recommended

You looked up

You haven't looked up any word in this article yet.

Practice this article

Practice

Read next

  • Why Thuan An Ward Stops New Tombs
    Latest NewsSociety · A2 · 1 min read

    Why Thuan An Ward Stops New Tombs

    Vì sao phường Thuận An cấm xây mộ mới

  • iPhone Duo shortage pushes prices up and brings fraud risk in Vietnam
    Latest NewsBusiness · A2 · 1 min read

    iPhone Duo shortage pushes prices up and brings fraud risk in Vietnam

    iPhone Duo khan hiếm đẩy giá tăng vọt, tiềm ẩn rủi ro lừa đảo tại Việt Nam

  • Why Ho Chi Minh City Needs AI and Institutional Reform to Keep Growing
    Latest NewsTechnology · B1 · 1 min read

    Why Ho Chi Minh City Needs AI and Institutional Reform to Keep Growing

    TP.HCM cần AI và cải cách thể chế để duy trì tăng trưởng

0:000:00