Mr. Nguyen Dang Quang returns to the list of USD billionaires: Waiting for a breakthrough of the decade

Masan Group Chairman Nguyen Dang Quang is on the list of 6 Vietnamese billionaires. He can make a breakthrough in the next decade thanks to Vietnam's No. 1 consumer-retail empire as well as a future machine supplying raw materials for high-performance battery production.

Back to the list of USD billionaires

According to Forbes, as of February 23, Mr. Nguyen Dang Quang, Chairman of Masan Group (MSN), had assets of 1 billion USD. Previously, at the beginning of the new year 2024, the Masan boss returned to Forbes' list of the world's richest people.

Thus, after a stressful 2023 for the entire market, many stocks, including Masan (MSN), have increased quite strongly again. Since the beginning of November 2023, MSN shares have increased from VND 58,000 to VND 67,000-69,000/share (nearly 19%).

The increase in Masan shares has pushed the capitalization of billionaire Nguyen Dang Quang's consumer-retail group to nearly VND96,000 billion by the end of February 23 (equivalent to USD3.9 billion).

According to statistics, Mr. Nguyen Dang Quang only holds 15 MSN shares, but the tycoon from Quang Tri is indirectly holding a large amount of MSN shares through Masan and Hoa Huong Duong JSC, equivalent to nearly 45% of Masan shares. Mr. Quang also holds more than 9.4 million shares of Techcombank (TCB) - the bank chaired by billionaire Ho Hung Anh.

Mr. Quang's wife, Ms. Nguyen Hoang Yen, holds more than 42 million MSN shares. In addition, Mr. Quang also directly holds shares of Masan Consumer (MCH), Masan Vision...

In fact, Mr. Quang's current fortune of $1 billion, as calculated by Forbes, is low. Mr. Quang has been on the Forbes billionaire list since 2018 with his fortune fluctuating mainly between $1-1.9 billion.

After a sharp decline from August to October 2023, from VND 88,000/share to about VND 58,000/share, MSN shares recovered quite impressively but still have not conquered the VND 70,000/share mark.

However, this stock is considered to have strong potential for a breakthrough in the future. MSN shares were once predicted by many large corporations in the world to reach 180,000 VND/share thanks to the solidity of the No. 1 consumer-retail empire in Vietnam as well as the machine providing raw materials for high-performance battery production in the future.

*Billionaire Nguyen Dang Quang's Masan is expected to grow strongly in the coming years in the consumer-retail sector. Photo: MSN*

Mr. Nguyen Dang Quang’s assets will also explode in the coming years. Masan is also expected to be a “money printing machine” that will produce USD millionaires in the next decade.

In a report recently released by New World Wealth and investment consultancy Henley & Partners, the growth rate of accumulated assets of Vietnamese people will be the fastest in the world in the next 10 years, with a breakthrough of up to 125%. This will be the highest growth rate of assets compared to any country, in terms of GDP per capita and the number of USD millionaires.

Mr. Nguyen Dang Quang's breakthrough, will Masan produce many USD millionaires?

Besides expectations from FDI capital flows, investors also put their trust in large domestic corporations such as Vingroup of billionaire Pham Nhat Vuong, Hoa Phat of billionaire Tran Dinh Long, Masan and banks... which will produce many Vietnamese USD millionaires.

Mr. Nguyen Dang Quang (born 1963, in Quang Tri) graduated with a PhD in Nuclear Physics from the Belarusian Academy of Sciences. After finishing his studies, he stayed in Russia and started his business in the 1990s by selling instant noodles to Vietnamese people living there, then invested in soybeans, fish and chili sauce. In 2002, Mr. Quang returned to Vietnam and developed products such as Chinsu soy sauce, Chinsu chili sauce, Nam Ngu fish sauce, Omachi noodles, Ponnie sausage, Vinacafe coffee...

Masan Group is one of the largest enterprises in the consumer and retail sector, after acquiring the Vinmart chain of billionaire Pham Nhat Vuong and changing its name to Winmart.

Mr. Quang is the one who spent billions of dollars to continue billionaire Pham Nhat Vuong's dream of developing a Vietnamese retail system, which was once dominated by many foreign retail corporations.

Recently, many foreign retailers such as AEON of Japan, GO of Thailand... have developed quite strongly, but the Winmart system continues to restructure and expand strongly. This is a channel that sells many types of Vietnamese goods, including Masan's own consumer goods.

In 2023, Masan recorded net revenue still growing positively compared to the previous year to nearly 78.3 trillion VND despite the decrease in domestic consumption.

The most notable point of Masan is that its core consumer business segment continues to record sustainable growth, while its retail business segment shows signs of achieving good profits in the medium term.

For the first time since the Covid-19 period, the WinCommerce retail system (WCM) has almost reached the EBIT (earnings before interest and taxes) capitalization point. This is an important milestone for Masan on the roadmap to reach the break-even point of after-tax profit of the entire network in 2024.

Dr. Nguyen Dang Quang said that WinCommerce is on track to reap sustainable profits in 2024. Masan Consumer Holdings is returning to growth trajectory.

Up to now, Masan has also created many rich people, including Mr. Nguyen Dang Quang (1 billion USD), Ms. Nguyen Thi Thanh Thuy (7,250 billion VND), Nguyen Hoang Yen (2,900 billion VND), Nguyen Thieu Quang (1,400 billion VND)...

Masan's growth prospects are also further strengthened as large foreign corporations and investment funds are pouring money into large Vietnamese enterprises, especially in the consumer, retail, pharmaceutical and financial sectors, as this is considered the "golden time" for Vietnamese consumption.

Recently, the world's leading private equity fund Bain Capital, with total assets under management of approximately 180 billion USD, invested at least 200 million USD in equity capital in Masan Group, with each share valued at 85,000 VND. This is a much higher price than the 67,0000 VND/share currently traded on the stock exchange.

Several other investors are negotiating with Masan and based on the group's capital needs and market conditions, Masan could increase the investment attraction to up to 500 million USD.

According to Mr. Nguyen Dang Quang, Masan is oriented from a consumer group to a consumer-retail group connecting consumers with technology in both traditional offline and online channels, following the Consumers of Things orientation (connecting consumer needs).

Mr. Danny Le, General Director of Masan, said that Masan will develop a multi-channel platform, providing information, products, services and experiences, thereby meeting all customer needs.

In 2020, Masan Group acquired the tungsten business platform of the world's leading refractory technology manufacturer HC Starck (Germany). This is a strategic move to transform Masan Resources from a raw mineral exporter into a world-leading high-tech industrial materials manufacturer.

In mid-2022, HC Starck Tungsten Powders (HCS), a subsidiary of Masan High-Tech Materials (MHT), invested in Nyobolt Limited (Nyobolt), a company specializing in providing fast-charging Li-ion battery solutions. Nyobolt's lithium-ion batteries have record-breaking power and ultra-fast charging capabilities.

Vietnamnet

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