Vietnam now has 7 billionaires after Masan chairman drops off Forbes list

Quang's net worth fell below the $1 billion threshold after Masan's MSN shares declined 3.2 percent in the final trading session of the week.

The stock has overall lost nearly 23 percent of its market value over the past year.

Quang was first recognized by Forbes as a billionaire in 2019, with an estimated net worth of $1.3 billion.

His wealth has since frequently fluctuated around the $1 billion threshold, meaning he has entered and exited Forbes' billionaire ranking several times.

Following his departure from the real-time ranking, Vietnam has seven billionaires recognized by Forbes, with a combined net worth of $54.8 billion.

Pham Nhat Vuong, 58, chairman of Vingroup, Vietnam's largest private conglomerate, remains Vietnam's richest billionaire, with a wealth of $37.9 billion, ranking 57th globally in Forbes' September 13 update.

He is followed by his wife Pham Thu Huong, a Vingroup vice-chairwoman, with $4.3 billion, and Vietjet chairwoman Nguyen Thi Phuong Thao, with $4 billion.

Pham Thuy Hang, Huong's younger sister and another vice-chairwoman of Vingroup, has a net worth of about $3 billion, ranking fourth.

Hoa Phat chairman Tran Dinh Long, Techcombank chairman Ho Hung Anh, and VPBank chairman Ngo Chi Dung hold the fifth, sixth and seventh positions, with fortunes of about $2.4 billion, $2.1 billion and $1.1 billion, respectively.

Forbes said its Real-Time Billionaires ranking tracks changes in the wealth of the world's richest people.

The value of holdings in listed companies is updated about every five minutes when the relevant stock market is open, with stock prices delayed by about 15 minutes.

Assets primarily tied to privately held companies are generally updated daily.

In the September 13 update, the world's richest person is Elon Musk, CEO of Tesla and SpaceX, with an estimated fortune of $929.4 billion.

He is followed by Google co-founder Larry Page with $277.9 billion, Dell Technologies founder Michael Dell with $276.5 billion, Amazon founder Jeff Bezos with $273 billion, and Google co-founder Sergey Brin with $255.8 billion, according to Forbes.