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The first quarter profit of Vingroup, owned by Vietnam’s richest man Pham Nhat Vuong, increased five times over the same period last year thanks to three major real estate projects and high growth in sales of VinFast cars and smartphones.
Six Vietnamese businesspeople have been named in Forbes’ list of the world’s richest billionaires.
Billionaire Nguyen Dang Quang will build The CrownX into a $10 billion firm and change the name of VinMart to WinMart, which will follow a new operation model after Vingroup, owned by Pham Nhat Vuong, leaves.
Vietnamese businesspeople have donated billions of dong to charitable activities during the COVID-19 crisis.
Once dreaming of becoming a university lecturer, Nguyen Thi Phuong Thao finally became a businesswoman and billionaire. Others became billionaires though they did not complete or even attend university.
Unlike other rich kids, these sons and daughters of the billionaires don’t often appear in the media.
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The founder of Microsoft is Vietnam's most admired man on the YouGov list. Billionaire Pham Nhat Vuong and Party General Secretary and President Nguyen Phu Trong are also on the list.
Vingroup rejects rumour about selling its stake in Vinmec and Vinschool, reiterating that these two systems play a crucial role in the group’s ecosystem.
Large corporations are rushing to seek capital through bond issuances before a new regulation, with stricter requirements, takes effect.
Vuong has made a number of moves recently to restructure his huge business system to shift his development strategy to technology, industry and services.
Covid-19 has forced manufacturers to consider restructuring the value chain, according to Sunny Hoang Hoa from Savills HCM City. Vietnam is expected to benefit from the trend.
One third of the sons and daughters of top businesspeople have been given opportunities to run businesses, and most of them have initiated reforms.
Experts have applauded the measured taken by HCM City authorities on risk assessment and management, believing that this is the first important step to run the economy safely.
The list of the world’s dollar billionaires announced recently by Forbes shows that the number of Vietnamese billionaires has fallen from five to three.
In 2009, when the VN Index soared from 324 points to the year's peak of 630 points, the richest stock billionaire had total assets worth over VND9 trillion.
Billionaires made big money in the Year of the Pig.
President of Hoang Anh Gia Lai Group Doan Nguyen Duc decided to spend VND240 billion to buy back HAGL bonds, while the owner of Yeah 1 lost VND2.2 trillion in 2019.
Thaco’s president spent big money to rescue Hoang Anh Gia Lai, while Vingroup’s president transferred the retail division to Masan to gather strength on automobiles and technology.