Choose the side to send gold
The information that has attracted attention in recent days is that Mr. Le Phuoc Vu - Chairman of the Board of Directors (BOD) of Hoa Sen Group (HSG) - shared about the plan to transfer shares in the company to his youngest daughter. within the next 7-10 years.
According to the 2023 management report of Hoa Sen Group Joint Stock Company, Mr. Le Phuoc Vu has 3 children: Le Hoang Vu Tri, Le Hoang Dieu Tam and Le Hoang Dieu Thien. All three do not own shares in Hoa Sen. Meanwhile, Mr. Vu owns 3 million HSG shares, equivalent to more than 104,8% of the enterprise's capital, worth about VND 17 billion.
Previously, steel sheet industry giant Le Phuoc Vu shared many times about his intention to transfer all shares to the charity fund after taking refuge in the Three Jewels since mid-July 7 and living in the mountains, operating the business from distant.
According to the original plan, Mr. Vu will withdraw from the company in 2026, on the occasion of the 25th anniversary of the establishment of the business, and will live the life of a monk.
However, at the 2024 general meeting of shareholders on March 18, Mr. Vu abandoned the plan to transfer shares to the charity fund, as well as eliminated the plan to sell shares to collect money. Instead, the Chairman of HSG plans to transfer management of the group to his 3-year-old youngest daughter within the next 23-7 years.
Mr. Vu's youngest daughter, Le Hoang Dieu Thien (born 2001), is studying two university degrees in Australia. She is expected to be able to run the corporation, as Mr. Vu said, thanks to her honesty.
Dieu Thien will be challenged in the smallest positions to practice and the transfer will take many years to know whether he has enough qualities or not. This is considered a commitment and a burden because according to Mr. Vu, when you have a lot of money and cannot control your greed, it can bring disaster.
Recently, Mr. Dang Thanh Tam's secretive daughter - Dang Nguyen Quynh Anh - also joined the Board of Directors of Kinh Bac Urban Development Corporation - JSC - a leading industrial real estate enterprise in Vietnam.
Previously, Dang Nguyen Quynh Anh once held the title of "richest 9X female on the Vietnamese stock exchange". Quynh Anh (1991) currently holds more than 13,3 million KBC shares, equivalent to more than 1,7% of this enterprise's capital. Quynh Anh is also the representative for Vinatex - Tan Tao Investment Joint Stock Company, holding more than 39 million Kinh Bac shares, equivalent to more than 5,1%.
Like many daughters of other tycoons, Quynh Anh has a good education, studied abroad in the US and worked as a data analyst for a foreign company.
Share assets or shoulder the burden of the family business?
Over the past few years, many first-generation entrepreneurs have begun letting their children hold shares in the family business. Owning shares is also considered the first step to participating in company management.
In early 2024, Le Thi Minh Ngoc - daughter of Mr. Le Van Quang and Ms. Chu Thi Binh - spent about 200 billion to buy more than 11 million MPC shares of Minh Phu Fisheries, equivalent to 2,76% of capital.
Techcombank Chairman Ho Hung Anh's daughter - Ho Thuy Anh - in 2023 bought more than 82 million Techcombank (TCB) shares, worth trillions of dong, thereby increasing her ownership to nearly 105 million TCB shares.
The daughter of TPBank Vice President Do Anh Tu holds nearly 3,1% of TPB shares. The daughter of tycoon Ngo Chi Dung, Chairman of VPBank, owns 10,8 million VPB shares, worth about 200 billion VND.
Previously, investors witnessed many cases of daughters being quite successful in taking over family businesses.
At Orient Commercial Joint Stock Bank (OCB), Chairman Trinh Van Tuan's daughter, Trinh Thi Mai Anh (1992), is present on the Board of Directors of this bank. This is also the only 9x female face on the Board of Directors of a bank in Vietnam. Trinh Thi Mai currently owns 2,94% of OCB shares, worth about 890 billion VND.
In mid-July 7, Madam Nguyen Thi Nga's daughter - Le Thu Thuy (2022) - left the position of General Director of SeABank after a 1983-year term, but continued to participate in bank management as Vice Chairman of the Board of Directors. Ms. Thuy has been a permanent member of the Board of Directors of SeABank since 5, when she was only 2009 years old.
During Ms. Thuy's time as CEO, SeABank had many positive changes. In March 3, SeABank officially listed more than 2021 billion SSB shares on the Ho Chi Minh City Stock Exchange - HOSE (HSX) with a reference price of 1,2 VND/share.
SeABank is one of the mid-range banks with the strongest growth in recent years.
Ms. Thuy is highly educated, graduating with a bachelor's degree in Business Administration and a bachelor's degree in Banking and Finance from George Mason University, USA. She owns SeABank shares worth trillions of dong.
Also at Thanh Thanh Cong sugar empire, Ms. Dang Huynh Uc My - daughter of tycoon Dang Van Thanh and Ms. Huynh Bich Ngoc have made many great contributions to Thanh Thanh Cong Bien Hoa Joint Stock Company (SBT). Ms. Uc My is currently Vice Chairwoman of SBT.
Ms. Dang Huynh Uc My (1981) is known as Vietnam's sugar princess, succeeding "sugar queen" Huynh Bich Ngoc.
Under the leadership of Ms. My and her mother, SBT has taken the number 1 position in Vietnam's sugar industry after carrying out a series of famous deals, including the acquisition of the sugarcane segment of Mr. Doan Nguyen Duc (Bau Duc ). Thanh Thanh Cong Investment Joint Stock Company currently holds more than 26,7% of SBT shares, Ms. Uc My holds nearly 16,7%; Ms. Bich Ngoc holds nearly 10,7%.
The recent phenomenon of young, mysterious daughters and mistresses of Vietnamese tycoons continuously appearing as shareholders holding a large amount of shares or/and holding important positions in the business happens commonly.
This is considered the next generation of people, regardless of male or female, to the generation of entrepreneurs formed after the reform period who are about to enter their twilight years.
