Fish sauce magnate back on Forbes billionaires list

By Nguyen Quy   December 31, 2019 | 09:00 pm PT
Fish sauce magnate back on Forbes billionaires list
Nguyen Dang Quang, chairman of Masan Group. Photo courtesy of Masan Group.
Masan Group founder Nguyen Dang Quang has reappeared on Forbes’ list of billionaires, a few weeks after dropping out due to his falling assets. 

Quang, who is Chairman of the food company, was 2,167th on the real time billionaires ranking updated by the U.S. magazine on Tuesday with a net worth of $1 billion.

On December 11 his net worth had been estimated at $980.8 million after falling by 25 percent since March, as the price of MSN shares, which account for the majority of his assets, fell.

On Tuesday it was trading at VND56,900 ($2.45), after rising by 2 percent from December 11.

It began falling following an announcement by Vietnam’s biggest private conglomerate, Vingroup, on December 3 that it had reached a deal with Masan to merge their retail subsidiaries to form a new company.

Quang made it to the Forbes list for the first time last March with a net worth of $1.3 billion. He founded Masan, a major producer of fish sauce and packaged foods, in 2004.

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