⬅ # 615 Tom Golisano|# 617 Tahir

# 616 Pham Nhat Vuong 

$5.28B

Real Time Net Worth
as of 5/29/2024
-$2.2M (-0.04%)

# 616 Pham Nhat Vuong 

$5.28B

Real Time Net Worth
as of 5/29/2024
-$2.2M (-0.04%)
OccupationCofounder and Chair, Vingroup
Source of WealthDiversified
Age55
ResidenceHanoi, Vietnam
Marital StatusMarried
Children3
Age-Adjusted Net Worth$7.41B
Pham Nhat Vuong
Pham Nhat Vuong
Vietnam
Net worth: $5.28B

Self-Made Score 

Wealth History

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Biography

Overview

Pham Nhat Vuong is a billionaire businessman renowned for his entrepreneurial journey from a humble background to leading one of Vietnam's largest conglomerates, Vingroup.
He gained prominence through his successful instant noodle business in Ukraine during the 1990s before returning to Vietnam to establish Vingroup, which encompasses diverse interests including real estate, retail, and healthcare.
Vuong's pivotal move of taking VinFast public through a SPAC listing on Nasdaq in August 2023 catapulted him to become one of Asia's wealthiest individuals, further solidifying his influence in the global business arena.

Origin and Family

Born on August 5, 1968, in Hanoi to Pham Nhat Quang, a former Air Force soldier, and a mother who sold tea on the streets.
He is the eldest among three siblings, including a younger brother, Pham Nhat Vu, and a sister, Pham Thi Lan Anh, who holds key leadership positions within Vingroup.
Pham Nhat Vu, his younger brother, faced legal issues related to bribery in the MobiFone deal, while his sister maintains a low media profile despite her involvement in various businesses.
Vuong's family settled in Hanoi after his father's military service, where he was raised alongside his siblings.

Education and Early Ventures

Attended Kim Lien High School in Hanoi, graduating in 1985 before securing admission to Hanoi University of Mining and Geology in 1987.
Excelled in mathematics, earning a scholarship to study economic geology at the Russian Federal University of Geological Exploration in Moscow.
Commenced entrepreneurial endeavors while still in university, initiating businesses ranging from selling goods to operating a restaurant.
Graduated in 1993 and married fellow student Pham Thu Huong, opting to settle in Kharkiv, Ukraine, amid economic opportunities following the collapse of the Soviet Union and Vietnam's Doi Moi policy implementation.
Founded 'Mivina' instant noodle brand in 1993 in Ukraine, which rapidly gained traction, capturing a significant market share and diversifying into other food products.

Business Expansion and Vingroup Formation

Expanded business interests by venturing into fast food and packaged soups, eventually selling Technocom Limited Liability Company to Nestle SA in 2010 for $150 million.
Reinvested profits from the noodle business into Vietnam, initiating business ventures starting from Nha Trang.
Played pivotal roles in founding Vinpearl Land and Vincom Joint Stock Company, marking the inception of Vingroup Corporation, formerly known as Technocom Group.
Transitioned Technocom Group into Vingroup Corporation in 2009, relocating its headquarters from Kharkiv to Hanoi.
Received a notable stock donation in 2008, acquiring shares from Le Khac Hiep, chairman of the Board of Directors of Vincom.

Wealth and Recognition

Became the first US dollar billionaire on the Vietnamese stock exchange in 2011, with assets valued at around 21,200 billion Vietnamese Dong.
Consistently ranked among Vietnam's wealthiest individuals, with assets reaching nearly 15,800 billion VND in 2010.
Featured on Forbes' list of world billionaires since 2013, with assets initially estimated at $1.5 billion and later increasing to $2.1 billion in 2016.
Despite fluctuations in VIC stock affecting his net worth, Vuong maintained his position as Vietnam's richest person, with an estimated net worth of $8.1 billion as of June 2021.

VinFast and v-Green Ventures

Led the SPAC listing of VinFast on Nasdaq in August 2023, marking a significant milestone and contributing to his rise as one of Asia's wealthiest individuals.
Initiated the construction of an electric SUV factory in North Carolina as part of VinFast's expansion into the US market.
Oversaw the spin-off of V-Green from VinFast in March 2024, with plans to invest over $400 million in building charging infrastructure across the United States over the next two years.

How long would it take you to become as rich as Pham Nhat Vuong?

If you started with $10,000 and invested an additional $500 each month at a 44.02% CAGR, it would take you 5 years to reach Pham Nhat Vuong's net worth of $5.28B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 42.57% compared to 11.75% for the S&P 500 benchmark.

Enter data in all but one field below, then calculate the missing value

Pham Nhat Vuong is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Pham Nhat Vuong, Diversified is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey