Phạm Nhật Vượng Explained

Phạm Nhật Vượng
Birth Date:1968 8, df=yes
Birth Place:Hanoi, North Vietnam
Alma Mater:Hanoi University of Mining and Geology[1]
Moscow Geological Prospecting Institute[2]
Occupation:Property developer
Organisation:Vingroup
Known For:The first Vietnamese billionaire, richest Vietnamese, founder and chairman of Vingroup
Spouse:Phạm Thu Hương
Children:3
Signature:Signature of Phạm Nhật Vượng.jpg

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.

Personal life

Vượng was born on 5 August 1968 in Hanoi; his paternal family has origins in Hà Tĩnh in north-central Vietnam.[4] 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.[5]

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] The couple has three children.[6] [7]

Career

In the 1990s, while living in Ukraine, Pham Nhat Vuong started an instant noodle restaurant business using money borrowed from friends and family. Soon he also started producing and selling instant noodles.[3] This brand of instant noodles became a hit with Ukrainians during the lean post-communist years of the 1990s.[8]

In 1993, he founded Technocom, which would become a market leader in dehydrated culinary products in Ukraine.[9] Vượng sold Technocom to Nestlé for $150 million in 2009, before returning to Vietnam.[2] [10]

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.

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.[11] His wife, Phạm Thu Hương and sister-in-law Phạm Thúy Hằng ranked third and fifth respectively. As of February 2024, Forbes estimated his net worth to be US$4.5 billion.[12]

References

  1. Web site: Chuyện về tỷ phú Phạm Nhật Vượng. The story of billionaire Phạm Nhật Vượng. Nguyên Đức. Vietnamese. Báo Đầu Tư Online. 2 October 2014. 7 March 2019.
  2. Web site: Former owner of domestic Mivina becomes richest man of Vietnam. InVenture. 25 January 2018. 7 March 2019.
  3. Web site: Vietnam's First Billionaire And The Triumph Of Capitalism. Michael Noer. Forbes. 4 March 2013. 7 March 2019.
  4. Web site: Tỷ phú Phạm Nhật Vượng đi từ 'không' đến 'có' thế nào?. How does billionaire Phạm Nhật Vượng go from 'no' to 'yes'?. Vietnamese. Tiền Phong. 19 March 2013. 13 January 2014.
  5. Web site: Trường Kim Liên gây bất ngờ với loạt HS thành đạt. Kim Lien School surprised with a series of successful students. Trần Linh. Vietnamese. Zing.vn. 17 November 2014. 7 March 2019.
  6. Web site: Phạm Nhật Vượng Forbes Profile. Forbes.
  7. http://dantri.com.vn/kinh-doanh/nhung-cap-vo-chong-quyen-luc-tren-thuong-truong-viet-1392870771.htm Những cặp vợ chồng quyền lực trên thương trường Việt
  8. News: ‘This country gave me a lot’: the Vietnamese people staying in Ukraine. 18 June 2024. The Guardian. 18 June 2024.
  9. Web site: Vietnam bets on move from gold to land. https://ghostarchive.org/archive/20220526/https://www.independent.co.uk/news/world/asia/vietnam-billionare-bets-on-move-from-gold-to-land-8230185.html . 26 May 2022 . subscription . live. Netty Ismail. Bloomberg. The Independent. 29 October 2012. 7 March 2019.
  10. Web site: Nestlé acquires leading culinary company in Ukraine. Nestlé. 25 February 2010. 7 March 2019. https://web.archive.org/web/20150121183522/http://www.nestle.com/Media/NewsAndFeatures/Nestle-acquires-leading-culinary-company-in-Ukraine. 21 January 2015. dead.
  11. Web site: Top 100 nguoi giàu nhất Việt Nam trên TTCK 2015. Top 100 richest people in Vietnam on the stock market in 2015. Vietnamese. VnExpress. 2015. 7 March 2019.
  12. Web site:
    1. 262 Pham Nhat Vuong
    . Forbes. 6 February 2024.