Wealthy Vietnamese Individual, Phạm Nhật Vượng, Becomes First to Hold $9b in Assets on Our Website
Vingroup's Billionaire Founder: Pham Nhat Vuong
HOLY COW, VIETNAM! Pham Nhat Vuong, the trailblazing chairman of Vingroup, just hit a mind-blowing net worth of $9 billion - the first for our country on the Forbes billionaires list! With a ranking at 330 worldwide, Vuong is leading the charge for Vietnamese entrepreneurs.
The surge in Vuong's wealth can be traced back to a considerable increase in the value of Vingroup's shares (VIC). This growth rocketed higher following recent happenings, such as the fixing of the IPO date for Vinpearl, a Vingroup subsidiary.
You bet your sweet ass, Vinpearl's upcoming listing on the Hồ Chí Minh Stock Exchange, slated for May 13, will be a game-changer! Over 1.79 billion shares worth a whopping VNĐ130 trillion will be up for grabs, skyrocketing this powerhouse among other big names like Masan, Vinamilk, and some heavyweight banks.
In the first quarter alone, Vingroup's total revenue soared to over VNĐ84 trillion, an impressive 287% increase compared to the same period last year. They also managed to boost their after-tax profit by 68%, racking up VNĐ2.24 trillion. Whoa!
Vingroup is aiming high with ambitious targets, coveting VNĐ300 trillion in net revenue from their production and services, representing a 56% increase year-over-year. They're also gunning for a VNĐ10 trillion profit after tax, a staggering 90% escalation compared to last year.
Now, let me tell you what's cooking in the Vingroup kitchen. They're upping their game by diving into infrastructure and green energy, investing in major railway projects, developing seaports, and generating a massive amount of renewable energy – targeting 25.5 gigawatts by 2030 and 52.5 gigawatts by 2035. That's some serious juice, man!
VinFast, Vingroup's electric vehicle division, is expanding its global presence by touching down in India and unveiling models in Indonesia and the Philippines. They're also planning on setting up manufacturing factories in Indonesia, India, and Vietnam to solidify their presence in the automotive world.
But that's not all, folks! Vingroup is going green with its real estate arm, Vinhomes, integrating sustainable features like solar panels and green parks into their developments. They're also jumping into the healthcare sector by collaborating with Cleveland Clinic to construct the Vinmec Can Gio International General Hospital within Vinhomes Green Paradise.
Vingroup's founder and chairman Phạm Nhật Vượng. - VNA/VNS Photo
So, what's next for Vingroup? They've got their sights set on leading green energy transitions, addressing both environmental concerns and Vietnam's power shortages. Also, the construction of VinFast's U.S. factory has been postponed from 2025 to 2028, allowing them to adjust their timeline with global market conditions.
That's pretty freakin' awesome, Vingroup's diversified strategies in infrastructure, green energy, manufacturing, and real estate are putting them on the fast track to success, not just in Vietnam but globally! Keep your eyes peeled on this badass company!
- Pham Nhat Vuong, Vingroup's billionaire founder, made headlines with his $9 billion net worth, marking the first Vietnamese on the Forbes billionaires list.
- The surge in Vuong's wealth can be attributed to the significant increase in Vingroup's shares (VIC), with the upcoming IPO of Vinpearl expected to further boost the value.
- On May 13, Vinpearl will list on the Hồ Chí Minh Stock Exchange, offering over 1.79 billion shares worth VNĐ130 trillion, a move that could catapult the company among industry giants like Masan, Vinamilk, and major banks.
- In the first quarter, Vingroup's total revenue reached an impressive VNĐ84 trillion, a 287% increase compared to the same period last year, with an after-tax profit of VNĐ2.24 trillion, a 68% boost.
- Vingroup has ambitious targets, aiming for a VNĐ300 trillion net revenue from production and services, a 56% increase year-over-year, and a VNĐ10 trillion profit after tax, a 90% escalation compared to last year.
- Beyond infrastructure projects and investments in renewable energy, Vingroup is expanding VinFast's global presence, developing manufacturing factories in Indonesia, India, and Vietnam, andGreening their real estate arm, Vinhomes, through sustainable features, seaport development, and partnering with Cleveland Clinic for a healthcare facility.
