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Vietnam has 2 tycoons reappeared in Forbes list’s world richest billionaires

May 26, 2020 | 11:43

Forbes has recently announced its annual list of global billionaires. Vietnam has two tycoons reappeared on the list despite economic crisis due to the COVID-19.    

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Masan Group founder Nguyen Dang Quang (L) and Hoa Phat steel tycoon Tran Dinh Long. Photo courtesy of Masan Group and Hoa Phat Group

In fact, no new Vietnamese name has appeared on the list of world's richest people by Forbes. Two Vietnamese tycoons reapprearing on the list this year are those who once ranked global billionaires but then lost the title because of falling assets.

Specially, fish sauce magnate Nguyen Dang Quang and steel tycoon Tran Dinh Long have reappeared on Forbes' list of billionaires 2020.

As of May 22, 2020, both of them have a net worth of USD1 billion, just enough to be on the list of the world’s richest men.

This data is updated based on changes in the price of MSN shares on the stock exchange.

Quang, chairman and founder of private food producer Masan Group, is on 2,109th. He made it to the Forbes list for the first time last year with a net worth of USD1.3 billion. He founded Masan, a major producer of fish sauce and packaged foods, in 2004.

At the end of trading session on May 22, an MSN share was worth VND62,000 (US$2.65), up 27% against the end of March when Forbes updated the value of billionaires' assets, while TCB's share of private lender Techcombank, in which which Quang holds 9.4 million shares, also rose by 41%.

Meanwhile, Long, chairman of Vietnam’s leading steel manufacturer Hoa Phat, was placed 2,122nd on the Forbes billionaires list, Vnexpress reported.

At the end of trading session on May 22, HPG's share price stood at VND27,300 (US$1.16), up 68% against last March.

Long founded Hoa Phat in Hanoi in 1992. The group currently manufactures office equipment, steel pipes and construction steel; and it is the biggest steelmaker in Vietnam.

Long, who entered the Forbes list of world’s richest people for the first time in 2018, is one of the largest shareholders of the Hoa Phat Group with over 700 million shares, equivalent to more than 25% of its chartered capital, according to the group’s management report.

Vietnam had four representatives in Forbes’ annual list of the world’s richest people in 2020 released last month

Pham Nhat Vuong, owner of Vietnam's biggest real estate conglomerate Vingroup and the country's first billionaire is on 286th with a net worth of USD 6 billion.

Nguyen Thi Phuong Thao, the only Vietnamese billionaire, CEO of budget carrier Vietjet Air is on 1001st with a net worth of USD2.3 billion

Tran Ba Duong, chairman of Truong Hai Auto Corporation (Thaco) is on 1.415th with a net worth of USD 1.5 billion; and Ho Hung Anh, chairman of Techcombank is on 1990th with a net worth of USD1.2 billion.

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