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Vietnamese tycoon drops off world’s US-dollar billionaire list

Vietnamese tycoon drops off world’s US-dollar billionaire list

Thursday, January 18, 2024, 17:19 GMT+7
Vietnamese tycoon drops off world’s US-dollar billionaire list
Vietnam currently has five U.S.-dollar billionaires on the Forbes list.

Forbes’ latest list of the world’s richest people showed that the number of Vietnamese U.S.-dollar billionaires fell to five from six recorded at the beginning of this year, with consumer goods producer Masan Group chairman Nguyen Dang Quang losing his spot.

The current five U.S.-dollar billionaires in Vietnam include chairman of conglomerate Vingroup Pham Nhat Vuong, CEO of budget air carrier Vietjet Nguyen Thi Phuong Thao, chairman of steelmaker Hoa Phat Group Tran Dinh Long, chairman of auto firm THACO Tran Ba Duong, and chairman of lender Techcombank Ho Hung Anh.

Due to fluctuations in the stock market, Masan Group's shares (MSN) fell drastically, plummeting Quang’s net worth to below US$1 billion.

MSN closed the session on Wednesday at VND66,300 ($2.7), well below the over VND100,000 ($4.1) last year.

Quang first appeared on the list of the world’s U.S.-dollar billionaires in 2019 when his net worth reached $1.3 billion. 

By 2022, that figure had surged to $1.9 billion.

Vingroup chairman Vuong remains Vietnam’s richest person with an asset value of $4.5 billion, up $200 million from early this month. 

In 2020, his assets topped out at $7.3 billion, but have since declined.

Vietjet CEO Thao is now the second-wealthiest billionaire in Vietnam with $2.3 billion in assets, rising $100 million since January 1, according to Forbes.

In addition to the CEO post at Vietjet, Thao holds important positions at lender HDBank and conglomerate Sovico Holdings.

Thao was followed by steel tycoon Long, dubbed Vietnam’s 'king of steel,' whose assets total $2.2 billion, up $400 million since January 1.

Forbes added Long to the list of the world’s wealthiest people six years ago.

He was dropped from the list once in 2019, but has since regained his spot.

The two remaining Vietnamese U.S.-dollar billionaires are THACO chairman Duong and Techcombank chairman Anh, their wealth estimated at $1.4 billion each.

In March 2022, Vietnam had seven people on the Forbes List, the highest-ever.

Real estate firm Nova Group chairman Bui Thanh Nhon was excluded from the list in 2022.

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Thanh Ha - Bong Mai / Tuoi Tre News

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