Forbes magazine has just updated information on the assets of Vietnamese businessmen at the beginning of the year of the Snake. Mr. Nguyen Dang Quang, Chairman of Masan Group, returned to the list of USD billionaires after losing this position before the Lunar New Year holiday. For most of 2024, Mr. Nguyen Dang Quang was on Forbes' USD billionaire list.

According to Forbes, as of February 2 (the 5th day of Tet), Mr. Nguyen Dang Quang had a net worth of 1 billion USD, ranking 2,718th in the world. On January 23, Mr. Quang's assets fell below the 1 billion USD threshold. This is not the first time Mr. Quang has been removed from the Forbes list.

As of February 2, Chairman of Vingroup (VIC) and CEO of VinFast (VFS) Pham Nhat Vuong had assets worth 4.1 billion USD, unchanged from the end of last year but his ranking dropped from 839 to 842 in the world. At the beginning of 2024, Mr. Vuong's assets were at 4.6 billion USD.

Compared to before Tet, the assets of VietJet (VJC) Chairwoman Nguyen Thi Phuong Thao remained at 2.8 billion USD. Mr. Tran Ba ​​Duong (Thaco) and his family recorded assets remaining at 1.3 billion USD.

Techcombank (TCB) Chairman Ho Hung Anh recorded an increase in assets from 1.7 billion USD to 1.8 billion USD. Hoa Phat Group (HPG) Chairman Tran Dinh Long's assets increased by 100 million USD, to 2.3 billion USD.

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Mr. Nguyen Dang Quang returns to Forbes' list of USD billionaires. Chart: MH

Thus, Mr. Pham Nhat Vuong is still the richest person on the Forbes list, as well as according to assets converted from stocks listed on the Vietnamese stock market. Mr. Vuong has held the number 1 position since 2010 until now.

The positions of many Vietnamese billionaires in the Forbes list have declined as the world recorded more stock market gains than losses during Vietnam’s Tet holiday. The change was not much, and Vietnamese billionaires are still at the bottom of the list.

Mr. Nguyen Dang Quang returned to the rankings after Masan (MSN) announced impressive business results. Profit for the whole year of 2024 reached VND 2,000 billion, up nearly 4.8 times compared to the previous year. Revenue reached nearly VND 83,200 billion, up 6.3%. Profit in the fourth quarter of 2024 increased 13.8 times compared to the same period.

MSN's profit increased sharply thanks to growth in the consumer segment, lower net interest expenses and a profit from the sale of HC Starck Holding GmbH (HCS) to Mitsubishi Materials Corporation.

WinCommerce retail segment has revenue growth of nearly 10% in 2024 thanks to new store models: WIN (serving urban shoppers) and WinMart+ Rural (serving rural shoppers).

In 2025, many forecasts say that large Vietnamese corporations will continue to make breakthroughs when the economy is forecast to rely on consumption growth, public investment, real estate instead of exports and tourism like last year. If consumption grows strongly, many large corporations will benefit and can make breakthroughs.

Masan Consumer Corporation (MCH) expects a strong recovery in consumption trends this year. In addition, revenue from international markets will also increase, increasing by 22.4% in 2024 compared to the previous year.

MSN plans to have net revenue of VND80,000-85,500 billion, up 7-14% depending on macroeconomic conditions and the recovery of the consumer market. The focus is on the core retail consumer business segment.

Investors now expect a number of other businessmen to make it onto Forbes' list, including Mr. Truong Gia Binh, Chairman of FPT.

FPT shares hit a historic peak of VND154,300/share (on January 23), with a record capitalization of nearly VND230,000 billion (about USD9 billion). FPT firmly holds the position of the largest private corporation in Vietnam, far surpassing Vingroup and Hoa Phat.

In 2025, FPT shares are expected to continue to benefit from the booming AI technology trend in the world, and the scale may increase.

In the region, the number of USD billionaires is increasing quite rapidly. Thailand currently has 26 billionaires, with total assets of nearly 86 billion USD. Singapore has 41 billionaires, with total assets of 115 billion USD.

1 Vietnamese USD billionaire left the list, Mr. Pham Nhat Vuong, who has held the top position for 15 consecutive years , now has only 5 USD billionaires in Vietnam according to Forbes' calculations at the beginning of 2025 instead of 6 people as at the end of 2024. Mr. Pham Nhat Vuong recorded a slight decrease in assets in the context of a sluggish stock market.