Masan chairman Nguyen Dang Quang back in billionaires list as share price surges

The 62-year-old now ranks 2,945th worldwide after dropping off the list in March.

Forbes determines an individual’s wealth by evaluating the value of shares they hold at a given time. The U.S. publication also considers a range of other assets owned by billionaires, including stakes in private companies, real estate holdings, art collections, and yachts.

Quang, who has a Ph.D. in nuclear physics, established Masan Group in 1996 and introduced the brand to Vietnam in 2002.

It is now one of Vietnam’s leading enterprises in the food and beverage industry, with well-known brands such as Chinsu chili sauce and Nam Ngu fish sauce.

It also operates Vietnam’s biggest retail chain, WinMart.

Quang also serves as a director of private lender Techcombank, and controls hundreds of millions of shares in both Masan Group and Techcombank through his private companies.

His return to billionaire status was driven by the robust performance of Masan and Techcombank shares, which have jumped 43% and 44% in the last three months.

Four other Vietnamese billionaires remain on the Forbes list.

Pham Nhat Vuong, chairman of conglomerate Vingroup, continues to be the country’s wealthiest individual with a net worth of $10.4 billion, a $6 billion increase since the beginning of the year.

His fortune has been propelled by a 130% rise in Vingroup’s VIC stock over the past six months.

Budget airline Vietjet chairwoman Nguyen Thi Phuong Thao ranks second with $2.5 billion, down $300 million from last year.

Ho Hung Anh, chairman of Techcombank, is third with $2.3 billion, an increase of $600 million since last year.

In fourth place is Tran Dinh Long, chairman of steel giant Hoa Phat Group, with a net worth of $1.9 billion, down $700 million.