Hồ Xuân Năng, recognized as Vietnam's richest professor, has experienced a staggering loss of 1.5 trillion VND (approximately $63 million) since the start of the year. His current net worth is estimated to be around 3.8 trillion VND, placing him at 46th on the list of the wealthiest individuals on the Vietnamese stock market.

Năng's financial downturn is primarily attributed to the declining stock price of Vicostone, where he holds a significant stake. The stock has dropped by 28% this year, reaching its lowest point since November 2022. As of now, Vicostone's market capitalization stands at nearly 4.7 trillion VND, a sharp decline from previous valuations.

Hồ Xuân Năng directly owns nearly 6 million shares of Vicostone, accounting for 3.74% of the company's total shares. The largest shareholder, Phenikaa Group, holds a substantial 84.15% of the shares, which amounts to 134.6 million shares. Năng, who is the founder and chairman of Phenikaa Group, has played a crucial role in Vicostone's rise to become one of the top three quartz stone manufacturers globally.

Born in May 1966, Năng graduated from Hanoi University of Science and Technology in 1986, specializing in internal combustion engines. He earned his Ph.D. in mechanical engineering in 1992 and was recognized as an associate professor in 2022. His academic contributions are noteworthy, with 109 published scientific papers, including 55 in reputable international journals.

Năng's career took off when he became the director of Vinaconex's high-end stone factory, which later facilitated his acquisition of Vicostone in 2014. Under his leadership, Vicostone has emerged as a leading exporter of artificial stone in Vietnam.

Currently, Năng serves as a lecturer at Phenikaa University and is the director of the Phenikaa Research Institute. He is expected to be officially recognized as a professor by the State Professor Council in 2025, reflecting his significant contributions to scientific research.