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  • Date of publication: 31 August 2020
  • 3423
  • businessbuysale.com
  • Vietnamese Nguyen Dang Quang became a dollar billionaire. He started with the sale of instant noodles in Russia

    Synopsis

    The owner of the Vietnamese food empire Masan Group Nguyen Dang Kuang became the new dollar billionaire - his fortune as of January 19 exceeded $ 1.2 billion. He started doing business in the 90's and earned an initial capital on the sale of instant noodl

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The owner of the Vietnamese food empire Masan Group Nguyen Dang Kuang became the new dollar billionaire - his fortune as of January 19 exceeded $ 1.2 billion. He started doing business in the 90's and earned an initial capital on the sale of instant noodles in Russia, writes Bloomberg.

 

In the early 90's, Dang Quang received an MBA from the Russian Economic University. Plekhanov. During his studies, he began to sell instant noodles for Vietnamese migrants. In a conversation with the agency, he said that a few years later he built a factory to produce 30 million packets of instant cooking a month and launched a line of soy, fish and chili sauces. After the success in Russia, he moved the business focus to his domestic market, and in 2001 he returned to Vietnam.

Now, according to the research company Kantar Worldpanel Vietnam, 95% of Vietnamese households at least once a month buy noodles or sauces produced by Masan.

The state of Dang Quang grew thanks to a two-fold jump in the company's shares in mid-January 2018. He owns 49% of the group, the rest belongs to his wife.

According to Aaron Wallis, the capital of the richest 100 people in the world exceeds $ 2.3 trillion or 1.3% of the capitals of people around the world. Only 30% of the billionaires from the top 100 successfully entered into an inheritance or worked in the family business. 17% created their own business, and the remaining 53% started to work for hire.

 

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