The two new billionaires have total asset value of $3 billion.
Ho Hung Anh and Nguyen Dang Quang have become the Vietnamese newcomers on Forbes 2019 billionaire list.
Ho Hung Anh is currently chairman of Techcombank while Nguyen Dang Quang is chairman of Masan Group.
The duet will bring the number of Forbes billionaires in Vietnam to five. Three other include Vingroup chairman Pham Nhat Vuong, Vietjet Air CEO Nguyen Thi Phuong Thao and Thaco chairman Tran Ba Duong.
Both Anh and Quang used to trade consumer goods in Eastern Europe before returning to Vietnam to establish Masan and then invest in Techcombank.
Anh is ranked 1349 in the Forbes billionaire list with total asset value of $1.7 million while Quang’s asset is valued at $1.3 billion, ranking 1717. Under Forbes’ calculation methods, total asset value of the duet might include those of family members such as wife and children.
The duet is holding nearly half of total Masan shares via Masan Corp and Sunflower. Ho Hung Anh and his relatives are holding around 17 per cent in Techcombank.
Techcombank and consumer goods producer Masan are among the biggest companies listed on Ho Chi Minh Stock Exchange in terms of market capitalization. Masan is capitalized at $4.48 billion while Techcombank is valued at $4 billion.
The five Vietnamese billionaires have total asset value of $13.6 billion, with almost half belonging to Vingroup chairman, who has been sitting in the Forbes list for seven consecutive years.
Vietjet Air CEO Nguyen Thi Phuong Thao is declared by Forbes as a self-made billionaire with total asset value of $2.3 billion while that of Thaco chairman Tran Ba Duong, who was included in the list for the first time last year, is $1.7 billion.
Tran Dinh Long, chairman of Hoa Phat Group, has been excluded from the list this year as it is compiled based on asset value on February 8, 2019. Since then, Hoa Phat shares have increased significantly and Long’s asset has exceeded $1 billion mark.
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