Chairman Pham Nhat Vuong receives zero salary at Vingroup

According to the audited consolidated financial report of Vingroup Corporation (stock code: VIC), in 2024, the enterprise earned VND 189,068 billion in revenue (mainly from production and general construction contracting activities), an increase of 17% compared to 2023.

Excluding expenses, Vingroup's consolidated profit after tax reached VND5,276 billion, up 157% over the same period.

In 2024, Mr. Pham Nhat Vuong, Chairman of Vingroup Board of Directors - who is holding 691 million VIC shares, will receive 0 VND in remuneration. Notably, for many years, this billionaire has not received remuneration from the group.

In 2023 and 2024, Mr. Pham Nhat Vuong funded the group's subsidiaries with VND18,980 billion and VND8,277 billion, respectively, for a total of VND27,257 billion. However, the report did not specifically disclose the name of the subsidiary.

Previously, Mr. Vuong had pledged to fund billions of dollars for VinFast. Specifically, in 2023, the richest man in Vietnam announced to donate 1 billion USD to this electric car company. This amount was fully disbursed by mid-2024.

At the end of 2024, Vingroup's Chairman continued to commit to supporting VinFast with an additional VND50,000 billion until the end of 2026. Billionaire Vuong said that the support was arranged from personal assets and did not affect the interests of Vingroup and VinFast shareholders.

VIC shares increased sharply in the past month Source: Fireant

According to the latest update by Forbes at 2:30 p.m. on March 31, Mr. Pham Nhat Vuong's assets are worth up to 7.5 billion USD (an increase of more than 3 billion USD compared to the end of 2024), ranking 412th in the list of the richest people in the world, up more than 370 places compared to the beginning of the year.

• VIC shares reverse the trend, billionaire Pham Nhat Vuong's assets increase by more than 2,000 billion

The asset value of Vingroup's Chairman increased sharply thanks to VIC shares increasing by more than 43% compared to the beginning of 2025, currently priced at VND58,000/share.

Regarding zero-dollar salaries, it is not uncommon for bosses of large companies on the stock market to not receive this amount for a long time.

For example, Ms. Nguyen Thanh Phuong, Chairwoman of the Board of Directors of Vietcap Securities Company (stock code: VCI) received a salary of 0 VND. Mr. Nguyen Dang Quang, Chairman of the Board of Directors of Masan Group (stock code: MSN) did not receive a salary for many years.

Similarly, Mr. Nguyen Duc Tai, Chairman of the Board of Directors of Mobile World Investment Corporation (stock code: MWG) also did not receive a salary from this company.

Source: https://nld.com.vn/chu-tich-pham-nhat-vuong-nhan-luong-0-dong-tai-vingroup-196250331150851178.htm