Masan chief falls out of global billionaire list

By Minh Son October 29, 2023 | 11:29 pm PT

Masan Group chairman Nguyen Dang Quang seen at the company's general meeting in 2020. Photo by VnExpress/Quynh Tran

Nguyen Dang Quang, chairman of retail giant Masan Group, has exited Forbes’s list of global billionaires after his company’s shares plunged to a three-year low.

Quang, also deputy chairman of Techcombank, first made the U.S. magazine’s list in early 2019 with a net worth of US$1.3 billion.

Between November 2019 and October 2020 he failed to make the list before reentering it.

Masan shares have dropped by 38% this year to their lowest levels since early October 2020.

Vietnam now has five billionaires: conglomerate Vingroup chairman Pham Nhat Vuong, steelmaker Hoa Phat Group chairman Tran Dinh Long, Vietjet Air CEO Nguyen Thi Phuong Thao, automaker Thaco chairman Tran Ba Duong and Techcombank chairman Tran Hung Anh.