Vietnam’s “chaebols”: The rich and mysterious family of Vingroup
Vietnam’s “chaebols”: The rich and mysterious family of Vingroup
Holding the most important posts in Vingroup, the family of Pham Nhat Vuong is currently the richest on the Vietnam Stock Exchange.
Currently, Vuong is the Chairman of Vingroup while his wife, Pham Thu Huong, and Huong’s younger sister, Pham Thuy Hang, are Vice Chairs. As of October 2014, Vuong owned 423 million shares of Vingroup, equivalent to VND20.4 trillion (29.8%).
On the list of the 10 richest people in the Vietnam Stock Exchange in 2014, Vuong ranked first and the gap between him and others in the list was very wide. The second and third richest men, Doan Nguyen Duc (Chairman of Hoang Anh Gia Lai Group) and Tran Dinh Long (Chairman of Hoa Phat Group), had VND7.781 billion and VND6,101 billion, respectively.
Vuong is currently the only Vietnamese dollar billionaire in Forbes ranking. He has been on this list for three consecutive years. According to the latest report by Forbes, Vuong has total assets of $1.7 billion, increasing from $1.6 billion in the previous year. Vuong’s ranking was 1,118 on the list, compared to last year's 1,092.
The next name in this family is Mrs. Pham Thu Huong, Vuong’s wife and the Vice Chair of Vingroup, who owns nearly 73 million shares (5.14%), worth VND3,642 billion. Huong is one of the top 200 richest people in the Vietnamese Stock Market and ranks first in the top 50 richest women in the Vietnamese stock market.
The last person in this "super" rich family is Mrs. Pham Thuy Hang, who is also a Vice Chair of Vingroup, with over 48.7 million shares, worth VND2,432 billion. Hang also ranked No. 2 on the list of the 50 richest women in the Vietnam Stock Exchange.
However, both Huong and Hang have never appeared publicly. Information and images of these women remain a secret.
People only know that Huong has accompanied Vuong in the process of building a powerful Vingroup.
In addition, the Vietnam Investment Group JSC, in which Vuong holds more than 50% of capital, owns over 180 million shares of Vingroup (12.68%). Thus, the total number of Vingroup shares held by Vuong, his family and his company is over 676.36 million, representing 47.62% of the charter capital of Vingroup.
Last year Vingroup earned VND27,738 billion in revenue, up 51% compared to 2013. Its after-tax profit was VND3,790 billion.
By Dec 31 2014, the total assets of Vingroup reached VND90,483 billion, up VND14,710 billion compared to 2013.
In the first quarter of 2015, Vingroup’s revenue reached VND6,394 billion, up 4% over the same period and its pre-tax profit was VND692 billion.
By March 31 2015, the total assets of Vingroup were estimated at VND96,057 billion, up VND6.165 billion.
