Billionaire Pham Nhat Vuong's family and the largest private corporation in Vietnam

Mr. Pham Nhat Vuong and his wife, Pham Thu Huong, have built a series of leading enterprises that have held leading positions over the past decade. Vingroup is known as the largest private corporation in Vietnam, with a capitalization that at one point reached more than 400,000 billion VND (about 17 billion USD).

Currently, Vingroup's capitalization is at about more than 200,000 billion VND (8.5 billion USD) and is still the largest private enterprise in the country.

Mr. Pham Nhat Vuong is the first USD billionaire in Vietnam according to Forbes, holding the position of the richest person on the Vietnamese stock market since 2013. Meanwhile, Mr. Vuong's wife, Ms. Pham Thu Huong, is the second richest businesswoman on the stock market. The son of billionaire Vuong and his wife is considered the right-hand man in managing and operating business activities.

Not only Vingroup, Mr. Vuong's family also manages many other leading enterprises such as Vinhomes (VHM) - the largest corporation in the real estate sector, with a capitalization of more than VND 220,000 billion (USD 9.3 billion), as of April 18.

Vingroup Corporation's ecosystem

VinFast is the only electric car manufacturer in Vietnam and plans to conquer the US market, as well as list on the world's largest stock market.

Most of Mr. Vuong’s family businesses are in the leading and/or leading positions in the industry. And Mr. Vuong’s family members hold key positions. This is also the management style that Mr. Vuong’s family has followed since the early days of starting their business in Eastern Europe.

In 2017, this private corporation attracted attention in both the domestic market and international media when it established the VinFast car company, with the ambition to conquer the world market and promote industrial production in Vietnam.

Ms. Pham Thu Huong is currently Vice President of Vingroup, in charge of the tourism and resort business branch.

Not only Mr. Vuong and his wife, some other family members are also working together to build and manage leading businesses.

Ms. Pham Thuy Hang, Ms. Huong's younger sister, is also Vice President of Vingroup. Meanwhile, Mr. Vuong's son - Pham Nhat Anh Quan, born in 1993, has been working for Vingroup since 2015 and has been transferred to many business divisions of the group from real estate, tourism to industrial production.

Currently, Mr. Vuong and his family directly and indirectly own nearly 60% of Vingroup shares.

In all the fields Vingroup participates in, this group has shown its leading role in the market. In the real estate sector, Vinhomes, a member of Vingroup, is the largest developer in the market, estimated to have delivered about 100,000 products to home buyers.

In the field of resort tourism, Vinpearl owns a system of 18,500 hotel rooms spread across key tourist destinations in Vietnam.

Vietnam Investment Group Corporation (VIG) is known as the key personal investment company of billionaire Pham Nhat Vuong's family. VIG is currently the largest shareholder holding more than 33% of Vingroup's shares. This company also holds 33.48% of VinFast Singapore's capital (owns the VinFast factory in Vietnam).

Currently, Vingroup owns 6 technology companies. These are VinBigData (researching big data for image and language processing), VinAI (researching artificial intelligence, applying it to xeinFast and Vinhomes urban areas), VinBrain (developing AI application products for healthcare), VinHMS (technology products for tourism and hotels), VinCSS (technology products for cyber security services) and VinITIS (data processing, leasing of mobile broadcasting infrastructure, voice networks, television and related activities).

The consumer and retail empire of Mr. Nguyen Dang Quang's family

Mr. Nguyen Dang Quang is known as the Chairman of the Board of Directors, the founder and leader of Masan Group (MSN), a private corporation operating in the fields of consumer goods - food - finance - mining - retail.

Mr. Nguyen Dang Quang and Ms. Nguyen Hoang Yen (both born in 1963) are the couple who built the retail and consumer group Masan with a scale of 5 billion USD (as of April 2023).

The business ecosystem of Mr. Quang and Mrs. Yen's family spans many fields.

Masan Group has four directly owned subsidiaries and dozens of indirectly owned subsidiaries and affiliates.

Masan's subsidiaries operate in many fields, from retail (WinCommerce - CrownX), consumer goods manufacturing (Masan Consumer), livestock and meat processing (Masan MeatLife), telecommunications (Wintel), milk tea (Phuc Long) to mineral exploitation (Masan Hightech Materials) - the company owns one of the world's largest tungsten mines, Nui Phao.

Of which, Masan Consumer (MCH), Masan Hightech Materials (MSR) and Masan MeatLife (MML) have been listed on the stock exchange. By mid-April 2023, Masan Consumer's capitalization was about 2 billion USD, Masan Hightech Materials about 500 million USD and Masan MeatLife about 500 million USD.

To have a business ecosystem spanning many fields as it is today, Masan under the management of Mr. Quang and his wife has carried out many famous M&A deals over the years with the orientation of buying businesses with cash flow, reviving Vietnamese brands.

In 2021-2022, Masan Group carried out more than 10 "famous" M&A deals. Masan spent billions of dollars to buy shares of CrownX (owner of the Vinmart retail chain) and gradually increased its equity ratio to nearly 85%.

Previously, billionaire Nguyen Dang Quang's Masan bought all Vinacafé Bien Hoa shares from major shareholders, including the giant VinaCapital. Both Masan and Vinacafé Bien Hoa benefited from the M&A.

Mr. Quang's wife, Ms. Nguyen Hoang Yen, has not appeared in the media, but Ms. Yen is holding many important positions at Masan Group and its member companies. Specifically, she is a member of the Board of Directors of Masan Group, a member of the Board of Directors and Deputy General Director of Masan Consumer Joint Stock Company - Masan Consumer (MCH); a member of the Board of Directors at VinaCafé Bien Hoa Joint Stock Company (VCF), NET Detergent Powder (NET), Vinh Hao Mineral Water, etc.

Ms. Yen currently owns 50.9 million MSN shares and nearly 900 thousand MCH shares. Her total stock assets are currently around VND3,400 billion.

As the leader of Masan Group, Mr. Quang plans strategies and makes decisions to help the company develop. Meanwhile, Ms. Nguyen Hoang Yen is in charge of many important activities, including purchasing the company's input materials. Mr. Quang's family directly and indirectly owns more than 25% of Masan Group's shares.

Mr. Quang has been on Forbes' list of USD billionaires for 4 years 2019, 2021, 2022 and 2023. According to the list announced in early April 2023, Mr. Quang's assets amounted to 1.3 billion USD.

Family of luxury goods king Johnathan Hanh Nguyen

The family of Mr. Johnathan Hanh Nguyen (1951), owner of the Imex Pan Pacific Group (IPP), is famous in the field of fashion and luxury goods. The group of Mr. Hanh Nguyen and Ms. Le Hong Thuy Tien holds 30% of the world's famous fashion brands in Vietnam, with about 70% market share in the domestic market.

Mr. Johnathan Hanh Nguyen is the founder of IPP Group, but he currently only owns 1% of the company's capital. The rest is owned by his wife and children.

Mr. Johnathan Hanh Nguyen and his wife (Photo: D.Khanh)

At the end of 2017, former actress Le Hong Thuy Tien became one of the richest people in the Vietnamese business community, after her husband, Mr. Johnathan Hanh Nguyen, transferred the majority of IPPGroup shares.

Ms. Le Hong Thuy Tien and her sons Nguyen Quoc Khanh and Nguyen Phi Long hold shares at 59%, 20% and 20% respectively. Previously, Mr. Jonathan Hanh Nguyen held 90% of the capital.

IPPGroup is one of the leading international brand retail groups in Vietnam. This is a group that bears the mark of Ms. Le Hong Thuy Tien. Ms. Thuy Tien's business distributes many luxury brands such as: Burberry, Ferragamo, Versace Rolex... and many fast food restaurant chain brands such as: Burger King, Dunkin Donuts... with revenue approaching the threshold of 1 billion USD.

In recent years, IPP Group has stepped up its investment in the aviation services sector, such as in Tan Son Nhat Airport Services JSC - Sasco (SAS) and CIAS. IPP holds 30% of the shares of Cam Ranh International Terminal.

Mr. Johnathan Hanh Nguyen is currently the chairman of Sasco. The largest shareholder is Vietnam Airports Corporation - JSC (ACV) with nearly 49.1%. Mr. Hanh Nguyen's Imex Pan Pacific Import-Export Company Limited holds nearly 25%. In addition, there are other companies related to Mr. Johnathan.

Two subsidiaries of IPP Group (Mr. Hanh Nguyen's Group), European Fashion and Cosmetics Company Limited (ACFC) and Duy Anh Fashion and Cosmetics Company Limited (DAFC), are also holding 15.4% and 4.9% respectively at Sasco.

"Doji House" dominates TPBank's shareholder structure

One bank that has emerged rapidly recently is TPBank, after Mr. Do Minh Phu and his family members entered this bank.

A decade ago, TienPhongBank was a struggling bank, on the list of weak banks forced to restructure. Mr. Do Minh Phu succeeded from trading gold and consumer goods for women and children (Diana). After selling capital at Diana, Mr. Phu and his younger brother Do Anh Tu are said to have focused on the banking sector, buying 20% ​​of TPBank shares.

At the 2012 Annual General Meeting of Shareholders, Mr. Phu was elected Chairman of TPBank's Board of Directors. From here, he began to change the organization, the executive board, and restructure the entire bank.

In mid-2018, Mr. Phu had to "give up gold" and resign as chairman of a series of enterprises, including the position of chairman of DOJI Gold and Gemstone Group Joint Stock Company, to keep the highest position at TPBank according to the provisions of the Law on Credit Institutions.

As of the end of 2022, the only major shareholder at TPBank is DOJI Gold and Gems JSC (5.93%). This is a business owned by Mr. Do Minh Phu. Mr. Phu personally does not hold any shares of TPBank.

Mr. Phu - Tu's family holds over 18% of TPBank shares.

Mr. Do Anh Tu is a famous businessman and together with Mr. Do Minh Phu, he is the son of the old businessman Do The Su. Mr. Do The Su is the head of one of the most successful families in Vietnam and is the one who runs the business at the age of 90.

Businessman Do Minh Phu and his family are currently doing business in many fields including finance, jewelry, F&B, trade, and real estate.

Mr. Dang Van Thanh's family and the number 1 position in the sugar cane and real estate industry

The historic takeover of the Vietnamese banking and financial market, Sacombank-SouthernBank, ended many years ago. Former Chairman of the Board of Directors of Saigon Thuong Tin Joint Stock Bank (Sacombank) Dang Van Thanh has left the banking sector and returned to where he started his career.

Thanh Thanh Cong Group of Mr. Dang Van Thanh's family focuses on sugar cane, real estate and tourism.

Dang Huynh Uc My, born in 1981, currently holds nearly 15.9% of the charter capital of Thanh Thanh Cong - Bien Hoa Joint Stock Company (SBT). Thanh Thanh Cong Group holds more than 25.4%. Ms. Huynh Bich Ngoc (Mr. Thanh's wife) holds 10.15%.

Currently, SBT directly and indirectly owns a series of large sugar cane enterprises. SBT currently accounts for about 40% of the market share.

This group owns a system of 2 to 4 star hotels, tourist areas, and resorts stretching from Nha Trang, Phan Thiet, Vung Tau, Can Tho, and Da Lat such as Ngoc Lan Hotel, Michelia Hotel, Love Valley tourist area, Mong Mo Hill, Hon Rom 2 tourist area, Pegasus resort,...

At Saigon Thuong Tin Real Estate JSC - Sacomreal (SCR), Mr. Thanh's wife, Ms. Huynh Bich Ngoc, is the Chairwoman, and his son Dang Hong Anh is the Vice Chairwoman. Thanh Thanh Cong Investment JSC holds nearly 178%; Mr. Hong Anh holds more than 10%; Thanh Thanh Cong Trading JSC holds more than 4.4%...

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