Masan chairman drops off Vietnam’s billionaire list as US tariff tumult rocks market
Vietnam now has four billionaires with a combined net worth of $13.8 billion, after Nguyen Dang Quang, chairman and founder of conglomerate Masan Group (HoSE: MSN) dropped off Forbes’ real-time billionaires list as of Friday as the U.S. tariffs have sent the market reeling.
MSN shares tumbled during the Thursday and Friday trading sessions, in line with the broader market downturn amid concerns over U.S. President Trump’s tariffs.
Chairman of Masan Group Nguyen Dang Quang. Photo courtesy of MSN.
Quang was on the list as of April 1 with a net worth of $1 billion, according to Forbes.
Pham Nhat Vuong, chairman of Vingroup (HoSE: VIC), remains the richest person in Vietnam by stock market assets, with a net worth of $7.5 billion as of Friday. He has held this title since 2010.
Vuong is followed by Nguyen Thi Phuong Thao, chairwoman of low-cost airline Vietjet (HoSE: VJC), with $2.5 billion in wealth.
Tran Dinh Long, chairman of steelmaker Hoa Phat Group (HoSE: HPG), comes third with a $2.1 billion net worth.
Ho Hung Anh, chairman of private lender Techcombank (HoSE: TCB), rounds out the top four with a net worth of $1.7 billion.
The net worth of these four billionaires fell by $200 million each since early April.
Earlier, on March 10, Tran Ba Duong, chairman of the multi-sector Thaco Group, also dropped off the list.
Vietnam's benchmark, VN-Index, closed down 1.56% at 1,210.67 points on Friday due to the U.S. imposition of 46% tariffs on Vietnamese goods.
On Thursday, the index plunged nearly 88 points, or 6.68%, to 1,229.84, wiping out all the gains it had made since the beginning of the year.
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