How much money did the businesses of the three Vietnamese billionaires earn in Q2/2024?

Vingroup (stock code: VIC) recently announced its consolidated financial report for the second quarter of 2024, with net revenue reaching VND 43,304 billion, a decrease of 8.4% compared to the same period last year.

However, thanks to a sharp 167% increase in financial revenue, reaching VND 11,177 billion, Vingroup's after-tax profit in Q2/2024 increased by 71% compared to the same period last year, reaching VND 684 billion.

For the first six months of 2024, billionaire Pham Nhat Vuong's company recorded net revenue of VND 65,043 billion, a decrease of 24.6% compared to the same period in 2023, and after-tax profit of VND 2,019 billion, more than double that of the same period.

In the first half of the year, Vingroup announced that Vinfast had delivered 21,747 electric vehicles, a 92% increase compared to the same period last year.

As of the end of Q2/2024, the value of the Group's cash and cash equivalents portfolio reached a "massive" level of VND 28,543 billion (an increase of over VND 500 billion compared to the beginning of the year), with bank deposits contributing the largest share at VND 27,350 billion.

VIC stock price fluctuations since the beginning of the year. Source: Fireant

On the market, VIC shares are currently priced at 42,000 VND per share, a slight decrease compared to the beginning of the year. Currently, Chairman Pham Nhat Vuong holds more than 691 million VIC shares, estimated to be worth over 29,000 billion VND (equivalent to 1.1 billion USD).

Similarly, Hoa Phat Group Joint Stock Company (stock code: HPG), owned by billionaire Tran Dinh Long, recorded positive results in the second quarter of 2024, with net revenue reaching VND 39,555 billion, an increase of 34%, and after-tax profit of VND 3,320 billion, VND 1,800 billion higher than the same period last year.

For the first six months of the year, the Group achieved net revenue of VND 70,408 billion , an increase of 26%, and after-tax profit of VND 6,189 billion, more than three times higher than the same period last year.

By the end of Q2/2024, Hoa Phat's portfolio of cash and cash equivalents was valued at VND 13,032 billion, an increase of nearly VND 800 billion compared to the beginning of the year.

Mr. Tran Dinh Long is known as the richest tycoon on the Vietnamese stock exchange, owning more than 1.6 billion HPG shares. Based on the closing price of HPG shares on August 2nd at 27,250 VND/share, the estimated value of these shares is approximately 43,600 billion VND (equivalent to 1.7 billion USD).

In addition, Masan Group Corporation (stock code: MSN) recorded net revenue of VND 20,134 billion in the second quarter of 2024, an 8% increase compared to the same period in 2023, thanks to a thriving retail consumer segment.

After deducting expenses and taxes, the group led by Chairman Nguyen Dang Quang reported a net profit of 946 billion VND , double that of the same period last year.

For the first six months of the year, Masan's net revenue increased slightly by 4%, reaching nearly VND 39,000 billion. After-tax profit surged by 64%, to VND 1,424 billion . Masan's cash and cash equivalents portfolio stood at VND 18,158 billion, an increase of VND 8,000 billion compared to the beginning of the year.

Besides being the head of Masan Group, Mr. Nguyen Dang Quang currently holds the position of Vice Chairman of the Board of Directors of Vietnam Technological and Commercial Bank (Techcombank, stock code: TCB).

At Masan, Mr. Quang owns only 15 MSN shares. Meanwhile, at Techcombank, he owns over 18.8 million TCB shares, estimated to be worth approximately 441 billion VND.

Source: https://nld.com.vn/doanh-nghiep-cua-3-ti-phu-viet-dang-lam-an-ra-sao-196240803112143941.htm