Vietnam’s conglomerate Masan chairman Nguyen Dang Quang returns to list of US dollar billionaires

Nguyen Dang Quang, chairman of Vietnam’s conglomerate Masan Group, has made his return to the list of U.S. dollar billionaires, according to the latest update from Forbes.

Data as of Sunday, February 2 shows that his net worth was estimated at $1 billion, placing him 2,718th on the list of the world’s richest people.

Quang was first recognized as a U.S. dollar billionaire in 2019. Since then, his net worth has fluctuated around the $1 billion mark, causing him to be periodically included and excluded from the rankings. He had to leave the list at the end of the Year of the Tiger but has now re-entered.

The update from Forbes shows six Vietnamese billionaires, including Pham Nhat Vuong, chairman of Vingroup; Tran Dinh Long, chairman of Hoa Phat group; Nguyen Thi Phuong Thao, CEO of Vietjet Air; Tran Ba Duong, chairman of Thaco; Ho Hung Anh, chairman of Techcombank; and Nguyen Dang Quang, chairman of Masan.

The combined net worth of these six individuals is $13.4 billion, down $500 million from Forbes' data in early April last year, but up about $800 million compared to the end of 2023.

Pham Nhat Vuong remains at the top of the list, with a fortune of $4.1 billion. Entering the Year of the Snake (2025), Vuong has now marked 15 consecutive years as a U.S. dollar billionaire, although his net worth has decreased by $200 million compared to the beginning of last year.

Tran Dinh Long, chairman of Hoa Phat, also saw a drop of $200 million based on the most recent update last April.

Ho Hung Anh and Tran Ba Duong, who are involved in the banking and automotive industries respectively, saw positive changes, with their net worths increasing by $100 million each. Nguyen Thi Phuong Thao, CEO of Vietjet Air, saw no change, remaining at $2.8 billion.

The number of U.S. dollar billionaires in Vietnam has fluctuated between five and six in recent years. Pham Nhat Vuong was the first Vietnamese U.S. dollar billionaire to appear on the local stock market in 2011.

Interestingly, in 2022, Vietnam had seven U.S. dollar billionaires for the first time, thanks to the presence of Bui Thanh Nhon, chairman of Vietnam’s major real estate developer Novaland, who had an estimated net worth of $2.9 billion and ranked 1,053rd in the world. However, in the following two years, Nhon left the list as Novaland faced significant challenges.