Phạm Nhật Vượng

In this Vietnamese name, the surname is Phạm. In accordance with Vietnamese custom, this person should be referred to by the given name, Vượng.

Phạm Nhật Vượng
Vượng in 2024
Born (1968-08-05) 5 August 1968 (age 56)
Hanoi, North Vietnam
Alma materHanoi University of Mining and Geology[1]
Moscow Geological Prospecting Institute[2]
OccupationProperty developer
OrganisationVingroup
Known forThe first Vietnamese billionaire, richest Vietnamese, founder and chairman of Vingroup
Signature

Phạm Nhật Vượng (born 5 August 1968) is a Vietnamese property developer and Vietnam's first USD billionaire.[3] He is the founder and chairman of Vingroup, the largest conglomerate in Vietnam. As of November 2024, Vượng has a net worth of $4.2 billion according to Forbes.[4]

Personal life

Vượng was born on 5 August 1968 in Hanoi; his paternal family has origins in Hà Tĩnh in north-central Vietnam.[5] His father served in the Vietnamese Army's air defence division, and his mother is a Hai Phonger, who had a tea shop, which left the family with a very meager income.[3] He grew up in Hanoi and graduated from Kim Lien High School in 1985.[6]

In 1987, he entered Hanoi University of Mining and Geology and was sent to the Soviet Union to study in the Moscow Geological Prospecting Institute,[1][2] for which he was able to obtain a scholarship thanks to his profound mathematical aptitude.[3] He graduated from this university in 1992.[1]

After graduating, he married Phạm Thu Hương, whom he had known since high school, and moved to Kharkiv, Ukraine where he lived in the early 1990s.[2][7] The couple has three children.[8][9]

Career

In the 1990s, while living in Ukraine, Phạm Nhật Vượng started an instant noodle restaurant business using money borrowed from friends and family. Soon he also started producing and selling instant noodles.[3][7] This Mivina [uk] brand of instant noodles became a hit with Ukrainians during the lean post-communist years of the 1990s.[7]

In 1993, he founded Technocom, which would become a market leader in dehydrated culinary products in Ukraine.[10] Vượng sold Technocom to Nestlé for $150 million in 2009, before returning to Vietnam.[2][11]

Vượng's first projects in Vietnam were Vinpearl Resort Nha Trang (opened in 2003) and Vincom City Towers (later renamed Vincom Ba Trieu) in central Hanoi (opened in 2004). Vincom went public in 2007. It merged with Vinpearl, Vượng's luxury resort business, to form VinGroup in 2007.[3] VinGroup is headquartered in its Riverside township in Long Biên District in Eastern Hanoi.[citation needed]

In 2015, Vượng was listed as the richest person in Vietnam with assets totaling VNĐ 24.3 trillion (approximately US$1.1 billion), which more than quadrupled those of the second richest person, Trần Đình Long of Hanoi Hoa Phat Corporation.[12] His wife, Phạm Thu Hương and sister-in-law Phạm Thúy Hằng ranked third and fifth respectively.

References

  1. ^ a b c Nguyên Đức (2 October 2014). "Chuyện về tỷ phú Phạm Nhật Vượng" [The story of billionaire Phạm Nhật Vượng] (in Vietnamese). Báo Đầu Tư Online. Retrieved 7 March 2019.
  2. ^ a b c d "Former owner of domestic Mivina becomes richest man of Vietnam". InVenture. 25 January 2018. Retrieved 7 March 2019.
  3. ^ a b c d e Michael Noer (4 March 2013). "Vietnam's First Billionaire And The Triumph Of Capitalism". Forbes. Retrieved 7 March 2019.
  4. ^ "Pham Nhat Vuong". Forbes. Retrieved 14 November 2024.
  5. ^ "Tỷ phú Phạm Nhật Vượng đi từ 'không' đến 'có' thế nào?" [How does billionaire Phạm Nhật Vượng go from 'no' to 'yes'?] (in Vietnamese). Tiền Phong. 19 March 2013. Retrieved 13 January 2014.
  6. ^ Trần Linh (17 November 2014). "Trường Kim Liên gây bất ngờ với loạt HS thành đạt" [Kim Lien School surprised with a series of successful students] (in Vietnamese). Zing.vn. Retrieved 7 March 2019.
  7. ^ a b c "'This country gave me a lot': the Vietnamese people staying in Ukraine". The Guardian. 18 June 2024. Retrieved 18 June 2024.
  8. ^ "Phạm Nhật Vượng Forbes Profile". Forbes.
  9. ^ Những cặp vợ chồng quyền lực trên thương trường Việt (The most powerful business couples in Vietnam) Báo điện tử Dân Trí.
  10. ^ Netty Ismail (29 October 2012). "Vietnam billionare [sic] bets on move from gold to land". Bloomberg. The Independent. Archived from the original on 26 May 2022. Retrieved 7 March 2019.
  11. ^ "Nestlé acquires leading culinary company in Ukraine". Nestlé. 25 February 2010. Archived from the original on 21 January 2015. Retrieved 7 March 2019.
  12. ^ "Top 100 nguoi giàu nhất Việt Nam trên TTCK 2015" [Top 100 richest people in Vietnam on the stock market in 2015] (in Vietnamese). VnExpress. 2015. Retrieved 7 March 2019.