MSN shares fell to their lowest level since October 2020, causing Masan's Chairman of the Board of Directors to leave the billionaire list, which happened at the end of 2019.
Mr. Nguyen Dang Quang, Chairman of the Board of Directors of Masan Group (MSN), no longer appears on Forbes' latest billionaire list. He is also Vice Chairman of Techcombank.
The list of Vietnamese billionaires currently records only 5 people, including Vingroup Chairman Pham Nhat Vuong, Hoa Phat Chairman Tran Dinh Long, VietJet Air CEO Nguyen Thi Phuong Thao, Thaco Chairman Tran Ba Duong and Techcombank Chairman Ho Hung Anh.
Mr. Nguyen Dang Quang at Masan's 2020 annual meeting . Photo: Quynh Tran
Mr. Quang is recognized as a billionaire in the list published in early 2019, with assets of 1.3 billion USD, ranked 1,717. This year is the second time Mr. Quang has left this list. Previously, from November 2019 to October 2020, the Chairman of the Board of Directors of Masan was also not recognized by Forbes as a billionaire when owning assets of less than 1 billion USD.
To be included in the list, Forbes uses the method of assessing an individual's wealth based on stock prices and exchange rates. For Masan's Chairman, the financial part is mainly calculated based on the amount of MSN shares he holds.
MSN stock price movements from 2019 to present. Source: Trading View
However, the recent decline of MSN stock has caused Mr. Quang's assets to fall below the threshold of 1 billion USD. Since the beginning of August, MSN shares have decreased by more than 30%, falling to 57,000 VND, the lowest price since the end of 2020.
The current market price of MSN shares is also equivalent to the price range that Mr. Quang left the Forbes list of world billionaires before. From the end of 2019 to November 2020, Masan Chairman was not on the Forbes list when MSN shares fell below 50,000 VND.
Minh Son
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