When artists do business

The public is no longer surprised when they hear the press report that this musician opens a restaurant, that writer opens a company, that singer-actor opens a coffee shop or participates in some business deal...

CEOs of Vietnamese showbiz

Writers establish cultural and media companies to publish books; musicians and singers open restaurants and cafes that often double as music stages or open recording studios to serve the entertainment needs of the general public. Some artists do business in industries unrelated to art such as real estate, cosmetics, stocks, etc.

But the hottest thing is that artists are CEOs of companies. Ngoc Trinh is currently the CEO of a cosmetics company valued at nearly 138 billion VND and has her own fashion brand. Huong Giang has also just been appointed CEO of a cosmetics company in Korea.

Recently, a Vietnamese oriental cosmetics company in Ho Chi Minh City invited MC Tran Thanh to be the CEO and representative face of the brand. MC Tran Thanh said he hopes that in addition to the art field, he can contribute and do well in his new job.

Previously, the audience also heard the news that actress Diem My 9X became the CEO of a beauty salon; actress Nha Phuong is the representative face and CEO of a cosmetics brand. When taking on the position of CEO, in addition to receiving a large sum of money, the artist also receives a share of revenue from the cosmetics companies (usually multi-level marketing). Therefore, some artists occasionally boast that "last month's revenue was over 1 billion VND".

When cosmetics became obsolete, many Vietnamese artists jumped into the financial field. They suddenly became financial experts, discussing stock codes animatedly. The most popular business nowadays is social networking sites. A product advertisement is also over 100 million VND (with famous faces). Therefore, the situation of advertising fake, counterfeit, poor quality goods, even horoscopes has appeared everywhere on the internet.

The fragile boundary between success and failure

Recently, when announcing the list of investors at the launch, the name "Miss Ngoc Han" surprised many people. Realizing the development potential of T99 (Vietnam's pawn service) and the Vietnamese pawn market, Miss Ngoc Han decided to invest 20 billion VND in this field. T99's transaction office system is expected to cover all provinces and cities nationwide with the goal of 500 transaction offices in the first 3 years of opening the service. This is the factor that made Ngoc Han decide to invest a large amount of capital in T99 Group.

Among the beauties who do cosmetics business such as Ho Ngoc Ha, Ninh Duong Lan Ngoc, Minh Hang, Bao Anh, Nhat Kim Anh, Bao Thy, Thu Thuy..., the most successful one up to now is only Ho Ngoc Ha.

Ho Ngoc Ha is a singer who is successful in the cosmetics business. (Photo provided by the character)

As F88 was continuously inspected, Miss Mai Phuong Thuy became a name that covered social platforms when it was reported that she was one of the major investors.

Recently, there have been many rumors about the reason why Quach Ngoc Ngoan went bankrupt, many of which said that Quach Ngoc Ngoan was involved in gambling. However, anyone who has known Quach Ngoc Ngoan for many years will know that his financial loss was due to business losses. For many years, Quach Ngoc Ngoan has hardly participated in acting. He moved to Ca Mau and did business in agriculture and aquaculture. He farmed, raised shrimp, fish, civets, and grew vegetables and fruits...

When he was still in the real estate business, artist Phuoc Sang also owed billions of dong. "The monthly bank interest was 2 billion dong. These were numbers that haunted me every night. Every time I slept, I just wished the night was long. That was a time when I was very confused and stuck" - Phuoc Sang said.

Once a beloved singer, but because of debt, singer nicknamed "the nightingale of the mountains" Siu Black had to hide in the mountain town. No longer a star, Siu Black raises pigs and grows vegetables to pay monthly bank interest. Her halo has also been lost due to the noisy debt information. She said: "The debt is up to 40 billion VND due to business losses. The coffee shop business also failed and could not recover the capital, and the money from performing could not cover the loss." Many speculate that the reason for this debt is because Siu Black is addicted to gambling.

Singer Truong Dan Huy also went bankrupt because the prolonged COVID-19 pandemic had a major impact on his business, making him unable to pay off his business loans. Actor La Thanh also had to flee because he owed 3 billion VND. In a time of desperation and lack of clarity, he turned to gambling in the hope of making quick money. That mistake caused the actor to be caught up in a spiral of debt and loan sharking.

Model Binh Minh expressed: “Artists doing business is not new, but doing business in any field needs to be considered. Not every product can be an ambassador, not every field can be jumped into. Artists doing business need to think about their responsibility to the business, to themselves and especially to the public. Before doing business, I myself had to attend many training courses to avoid all business risks and mistakes that affect the public's trust in me.”

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