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Amidst the global crisis, Vietnam still has two more dollar billionaires

Thursday 15, 10 2020
According to the Forbes’ list of the world’s richest released in April 2020, Vietnam had only four dollar billionaires. However, as of August 2020, two entrepreneurs, Mr. Tran Dinh Long and Mr. Nguyen Dang Quang, have just returned to the “race.”
Amidst the global crisis, Vietnam still has two more dollar billionaires

In April, Forbes, a magazine well-known for its lists and rankings of the world’s rich, announced the “2020 list of the World's Billionaires.” At that time, there were only 4 dollar billionaires in Vietnam, namely Mr. Pham Nhat Vuong, the Chairman of Vingroup, Ms. Nguyen Thi Phuong Thao, the CEO of Vietjet Air, Mr. Tran Ba Duong, the Chairman of Thaco, and Mr. Ho Hung Anh, the Chairman of Techcombank.

Half a year later, the socio-economic situation has gone through many changes as the global economy was strongly affected by the Covid-19 pandemic. Vietnam, by implementing robust responses to curb the spread of the disease, has become an "Asian star" in economic development. Accordingly, the list of Vietnam's dollar billionaires published by Forbes has also had a positive change.

Specifically, on October 13, Vietnam recorded 6 dollar billionaires (people with the net worth from USD 1 billion). Mr. Pham Nhat Vuong, the Vingroup Chairman of the Board of Directors, led that list of 6 with a total net asset value of USD 5.9 billion. With this fortune, Mr. Vuong is the richest person in Vietnam and ranked 385th in the list of richest people in the world.

Mr. Pham Nhat Vuong, the Vingroup Chairman of the Board of Directors

The second richest person in Vietnam and also the only businesswoman of Vietnam named on the Forbes’ rich list is Ms. Nguyen Thi Phuong Thao, the co-founder and CEO of Vietjet Air. Ms. Thao owns assets worth USD 2.2 billion, ranked 1,286 in the world.

Ms. Nguyen Thi Phuong Thao, the co-founder and CEO of Vietjet Air

Mr. Tran Ba Duong, the Chairman of Truong Hai Group (Thaco) ranked 3rd in Vietnam’s rich list (Forbes) with a fortune of USD 1.5 billion.

Mr. Tran Ba Duong, the Chairman of Truong Hai Group
With the positive changes in stock price recently, the assets of the other billionaires, Mr. Ho Hung Anh, the Chairman of Techcombank, Mr. Nguyen Dang Quang, the Chairman of Masan Group, and Mr. Tran Dinh Long, the Chairman of Hoa Phat, have increased sharply.

Mr. Tran Dinh Long, the Chairman of Hoa Phat
Currently, Mr. Ho Hung Anh and Mr. Tran Dinh Long have approximately the same asset value of USD 1.3 billion. Meanwhile, the property of Mr. Nguyen Dang Quang is valued at USD 1.2 billion.

Statistics of the dollar billionaires' assets are updated by Forbes in real-time and influenced by changes in stock price.
In the session on October 12, VIC shares of Vingroup closed with a slight increase of 0.3% to VND 93,900. Compared to the bottom of VIC shares recorded at the end of March, the price of VIC shares has increased by 31.5%. Nevertheless, the current price has not yet recovered to the peak of VND 122,500 at the beginning of November 2019.

Mr. Pham Nhat Vuong is the founder and also the largest shareholder of Vingroup. He has direct ownership of 876 million VIC shares and indirectly owns over 1 billion of these shares through 92.88% of shares in the Vietnam Investment Group Joint Stock Company.
In yesterday's session, VJC shares of Vietjet Air also increased by 0.57% to VND 105,000. Although the aviation industry has been hit severely by the spread of Covid-19, the price of VJC shares in the market did not lose too much value. VJC shares only really bottomed out at the end of July but has now recovered more than 11% from the bottom.

Billionaire Nguyen Thi Phuong Thao, the CEO of this airline owns 47.47 million VJC shares and an addition of 154.74 million VJC shares, owned indirectly through 100% stake in the Sunflower Sunny Investment Company Limited.
HPG shares of Hoa Phat, though decreased slightly by 0.88% yesterday to VND 28,250, still recorded an extremely impressive chain of transactions recently.
Compared to the stock price that hit bottom at the end of March, HPG shares more than doubled (increased 113%) and also helped Mr. Tran Dinh Long's assets double. Mr. Tran Dinh Long currently owns 700 million HPG shares.

Similarly, MSN shares of Masan Group are becoming a "phenomenon" in the stock market. Despite fluctuations in the market, MSN still rose steadily, in just 1 week it increased by more than 26% and increased by nearly 30% compared to the price at the beginning of October. From the lowest price established at the end of February, MSN’s price has now increased by over 44%.
Mr. Ho Hung Anh, The chairman of techcombank
The assets of  and Mr. Nguyen Dang Quang mainly lie in indirect shares in Masan Group. Mr. Ho Hung Anh indirectly owns 173.7 million shares of MSN through 47.56% stake in Masan Joint Stock Company and 73.6 million shares of MSN through 47.55% stake in Sunflower Construction Co., Ltd.
Mr. Nguyen Dang Quang, The chairman of Masan Group
Mr. Nguyen Dang Quang only directly owns 15 MSN shares, but the number of shares he indirectly owns through 48.5% of the shares in Masan Joint Stock Company is worth 177.1 million MSN shares and through 48.5% of shares in Sunflower Construction Co., Ltd. is worth over 75 million MSN shares.

Source: Dantri – Translated by VietnamCredit

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