Phạm Nhật Vượng

Phạm Nhật Vượng (born 5 August 1968) is a Vietnamese property developer and Vietnam's first billionaire.[4]

Phạm Nhật Vượng
Born	5 August 1968 Hanoi, North Vietnam
Nationality	Vietnamese
Citizenship	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
Net worth	US$7 Billion[3]
Spouse(s)	Phạm Thu Hương
Children	3
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Personal life

Vượng was born on 5 August 1968 in Hanoi; his paternal family has origins in Hà Tĩnh in northern Vietnam.[5] His father served in the Vietnamese Army's air defence division, and his mother had a tea shop, which left the family with a very meager income.[4] 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 Russia 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.[4] 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.[2]

Career as an entrepreneur

Using money borrowed from friends and family, he opened a Vietnamese restaurant in Ukraine, but soon he also started producing and selling instant noodles.[4] In 1993, he founded Technocom, which would become a market leader in dehydrated culinary products in Ukraine,[7] which he sold to Nestlé for $150,000 in 2009, before returning to Vietnam.[2][8] 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.[4] 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 totalling VNĐ2.43 trillion (approximately US$1.1 billion), which more than quadrupled those of the second richest person, Trần Đình Long of Hanoi Hoa Phat Corporation.[9] His wife, Phạm Thu Hương and sister-in-law Phạm Thúy Hằng ranked third and fifth respectively. As of 18 January 2021, Forbes estimated his net worth to be US$7 Billion.[3]

References

1. 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. "Former owner of domestic Mivina becomes richest man of Vietnam". InVenture. 25 January 2018. Retrieved 7 March 2019.
3. "#286 Pham Nhat Vuong". Forbes. Retrieved 5 October 2020.
4. Michael Noer (4 March 2013). "Vietnam's First Billionaire And The Triumph Of Capitalism". Forbes. Retrieved 7 March 2019.
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. Netty Ismail (29 October 2012). "Vietnam billionare bets on move from gold to land". Bloomberg. The Independent. Retrieved 7 March 2019.
8. "Nestlé acquires leading culinary company in Ukraine". Nestlé. 25 February 2010. Archived from the original on 21 January 2015. Retrieved 7 March 2019.
9. "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.