Billionaire Nguyen Thi Phuong Thao and the new "link" that few people know about

(Dan Tri) - Ms. Nguyen Thi Phuong Thao is currently the second richest person in Vietnam, just after billionaire Pham Nhat Vuong.

The soaring share prices of companies within the ecosystem have propelled billionaire Nguyen Thi Phuong Thao's total assets to an all-time high of $3.6 billion (updated from Forbes on the afternoon of September 4th).

Since the beginning of the year, HDBank 's HDB shares have increased by 27.5% to VND 33,100 per unit, the highest level in 3 years. The number of HDB shares held by Ms. Thao personally and through Sovico Joint Stock Company amounts to approximately 526.7 million shares, estimated to be worth about VND 17,433 billion.

Meanwhile, Vietjet Air's VJC shares have also unexpectedly surged in the past month, reaching 140,000 VND per unit, the highest in three years and nearly 43% higher since the beginning of the year. Currently, Ms. Thao owns 47.47 million VJC shares. Through Huong Duong Sunny Investment Co., she holds an additional nearly 155 million VJC shares. The total value of the 202.4 million VJC shares held by Ms. Nguyen Thi Phuong Thao is estimated at approximately 28,346 billion VND.

Thus, in just about 8 months this year, this self-made billionaire has added nearly 1 billion US dollars to her fortune. Ms. Thao is now the second richest person in Vietnam, after Mr. Pham Nhat Vuong.

He earned his first million dollars at the age of 21.

Born in Hanoi in 1970, Ms. Nguyen Thi Phuong Thao is known as one of the few Vietnamese entrepreneurs fortunate enough to have the opportunity to study economics and finance at a university in the Soviet Union at the age of 17. She quickly became famous in the community not only for her excellent academic achievements but also for her innate business acumen.

While still a second-year student, taking advantage of the scarcity of goods in Eastern Europe, Ms. Thao started a business trading in everything from electronics, computers, and fax machines to tapes, watches, and even agricultural products from Asian countries like Japan, South Korea, and Hong Kong (China) to Eastern Europe. She also brought back to Vietnam scarce and essential goods such as equipment, steel, and fertilizers.

Just a few years later, Ms. Thao earned her first million USD at the age of 21. Returning to Vietnam, she focused her investments on two main areas: finance and real estate. In particular, Ms. Nguyen Thi Phuong Thao's name is largely associated with the low-cost airline Vietjet Air.

Ms. Nguyen Thi Phuong Thao's name is closely associated with Vietjet Air (Photo: Vietjet Air).

Vietjet Air received its business license in 2007, with a development strategy focused on low-cost flights. To date, the airline has become a private airline with a significant market share in the industry.

Despite facing numerous scandals, Vietjet Air continues to expand and thrive. Before Covid-19, the airline generated billions of US dollars in revenue, equivalent to trillions of Vietnamese dong in profit each year. Today, these figures have returned to their golden age.

According to the business results report for the first six months of 2025, Vietjet Air achieved aviation revenue of VND 35,600 billion and pre-tax profit of nearly VND 1,600 billion, an increase of 37% compared to the same period. Consolidated revenue reached VND 35,800 billion, and pre-tax profit exceeded VND 1,600 billion, an increase of 65% compared to the same period.

By the end of Q2/2025, the airline operated a total of 154 routes (109 international and 45 domestic routes). It operated nearly 41,000 flights, transporting 7.5 million passengers. Total cargo volume transported during the quarter reached nearly 29,000 tons.

As of June 30, 2025, the company's total assets reached over VND 112,330 billion, with a debt-to-equity ratio of 1.76 times and a liquidity ratio of 1.44 times, indicating good liquidity within the aviation industry.

Together with my husband, we "steer" a multi-sector ecosystem.

Besides aviation, Ms. Nguyen Thi Phuong Thao also invests in real estate through Sovico Holdings - a company known for many large real estate investment deals both in Vietnam and abroad.

Sovico Holdings currently operates in four main sectors: real estate; financial and banking investments; electricity and energy; and aviation. Sovico Holdings is also a founding shareholder of the private airline VietJet Air. Some of the company's notable deals include the acquisition of Furama Resort, L'Alyana Ninh Van Bay and Ana Mandara Cam Ranh (Khanh Hoa), and Phu Long Real Estate Joint Stock Company (the investor of the Dragon City project in the heart of Ho Chi Minh City)...

In addition, Ms. Nguyen Thi Phuong Thao also holds the position of Permanent Vice Chairman of the Board of Directors of HDBank. Mr. Nguyen Thanh Hung – Ms. Nguyen Thi Phuong Thao's husband – is also a businessman from the 60s and 70s generation who established his career in Eastern Europe. Currently, Mr. Nguyen Thanh Hung and his wife hold key positions at Sovico Group, HDBank, Dong Do Petroleum Joint Stock Company, and Vietjet Air.

Mr. Hung and Mrs. Thao's eldest son is Nguyen Phuoc Hung Anh Victor (English name: Tommy Nguyen). Unlike many "second generation" members of wealthy Vietnamese families, Nguyen Phuoc Hung Anh Victor does not work at his parents' company but has started his own business.

In a rare public appearance in the media, Nguyen Phuoc Hung Anh Victor was introduced as the co-founder of the startup Swift 247 - a technology providing ultra-fast delivery services via air freight.

A little-known new link has emerged in the 100 billion VND funding for Da Nang's AI "heart."

With keen business acumen and a forward-thinking approach to the technological boom, Nguyen Thi Phuong Thao's ecosystem has just added a new, little-known AI enterprise, Galaxy Holdings.

Notably, in March of this year, Vikki Digital Bank and Galaxy Holding invested 100 billion VND in a modern laboratory system for the first year; this includes focusing on equipment investment, training program development, and operating costs. The two parties announced their cooperation to develop high-quality human resources in cutting-edge technology sectors for Da Nang and Vietnam in the coming period.

Both Vikki Digital Bank and Galaxy Holdings (full name: Galaxy Digital Holdings Co., Ltd.) are members of the Sovico Group ecosystem. Vikki, formerly DongA Bank, became a wholly owned subsidiary of HDBank after a mandatory transfer – a bank where billionaire Nguyen Thi Phuong Thao holds the position of Permanent Vice Chairman.

Galaxy Holdings, established in August 2021 with a charter capital of 500 billion VND, was funded by Sovico Group, with Ms. Nguyen Thi Phuong Thao as Chairwoman of the Board of Directors and General Director. Currently, Mr. Tran Thanh Hai serves as the General Director and legal representative of the company.

According to the introduction, the company is a digital technology corporation whose purpose is to promote traditional business activities into digital business, inspiring people to contribute to building a prosperous Vietnam in the digital world.

Despite being a relatively new link in billionaire Phuong Thao's portfolio, Galaxy Holdings has been developing into a comprehensive digital technology conglomerate with numerous member companies offering diverse products and services. Currently, Galaxy Holdings has 10 member companies ranging from financial technology to the application of AI in healthcare, aviation, and various business units within the system.

The digital ecosystem introduced currently has 1,200 employees, including over 450 engineers and 6 major partner businesses with revenues of $1 billion or more.

According to its development roadmap, during the period 2024-2026, Galaxy Holdings will expand its service offerings to partners outside the Sovico ecosystem. The company also aims to collaborate with high-value digital businesses.

Galaxy Pay is a fintech company. Galaxy Joy aims to become the number one lifestyle airline points accumulation platform in Vietnam and globally. Galaxy Finx is a fintech developer building the future of the money and banking market. Galaxy Connect supports member companies by combining AI with an OTO (Online - Tele - Offline) model to optimize the customer journey...

Source: https://dantri.com.vn/kinh-doanh/ty-phu-nguyen-thi-phuong-thao-va-mat-xich-moi-it-ai-biet-den-20250824135520192.htm