First appearance, become the center of attention

Recently, Pham Nhat Minh Hoang (born in 2000) - the second son of billionaire Pham Nhat Vuong has officially appeared before the media at business events in the Vingroup ecosystem and attracted public attention.

Pham Nhat Minh Hoang first officially appeared before the media at the event welcoming the President of Bulgaria at the VinFast Hai Phong factory at the end of November.

Previously, the eldest brother Pham Nhat Quan Anh (born in 1993) first appeared at the end of last year as Deputy General Director of VinFast production when the Vietnamese electric vehicle company and Marubeni Corporation officially announced a memorandum of understanding (MOU) on cooperation in reusing electric vehicle batteries towards the goal of developing a circular economy within the framework of the Vietnam - Japan Economic Forum in Tokyo. Earlier this year, Quan Anh and Mr. Pham Nhat Vuong welcomed Indonesian President Joko Widodo to visit the VinFast complex in Hai Phong.

On December 6, information about two brothers Pham Nhat Minh Hoang and his older brother - Pham Nhat Quan Anh going to eat Pho Bat Dan with Nvidia Corporation Chairman - billionaire Jensen Huang attracted strong attention in the media.

And that same evening, for the first time, the three richest billionaires in Vietnam appeared together in the same frame at the VinFuture 2024 Global Science and Technology Awards Ceremony at Ho Guom Theater (Hanoi).

Recently, on social networks, a clip also went viral with Pham Nhat Minh Hoang appearing at the 8Wonder Winter super music festival rehearsal at Vinhomes Grand in a simple outfit.

Pham Nhat Quan Anh has also officially owned Vingroup shares since the end of 2023 after completing the purchase of 150,000 VIC shares under the employee stock option program (ESOP). Previously, Quan Anh also annually bought a small percentage of shares in VinFast in 2021.

Thus, after many years of absolute secrecy, over the past year, the two young masters of billionaire Vuong have appeared one after another, participating in the business and operations of the Vingroup ecosystem in the context of this corporation's strong transformation into the fields of technology, industry, and international-class electric car manufacturing.

PhamNhatVuongva2sons PhuNuSo.gif
Billionaire Pham Nhat Vuong in the same frame with his two sons, Pham Nhat Quan Anh and Pham Nhat Minh Hoang. Photo: Digital Women

Generation 2 continues the billion dollar career?

Previously, Mr. Pham Nhat Vuong's children had never appeared in the media and were only known through billionaire Vuong's story to the press in 2019. Mr. Vuong said that his point of view is not to force his children to take on their father's job in the future.

According to billionaire Vuong, his children love and "do as much as they are capable of, otherwise, they cannot destroy a career that so many people have worked so hard to create."

Mr. Pham Nhat Vuong - Chairman of the Board of Directors of Vingroup Corporation and Ms. Pham Thu Huong - Vice Chairman of the Board of Directors of Vingroup have 3 children (2 boys and 1 girl): Pham Nhat Quan Anh, Pham Nhat Minh Hoang and Pham Nhat Minh Anh.

Currently, neither Quan Anh nor Minh Hoang hold positions in the Board of Directors or Executive Board of Vingroup Corporation, but are holding many important roles in the corporation's strategic businesses.

PhamNhatMinhHoang VFSHaiphong Phunuso.gif
Pham Nhat Minh Hoang (second from right) receives Bulgarian President Rumen Radev at VinFast Hai Phong Factory. Photo: PNS

Since August 2018, Vingroup has announced its orientation to become an international-class technology - industry - service corporation by 2028, in which technology accounts for the main proportion, instead of focusing mostly on services and real estate as before.

The role of the eldest son Pham Nhat Quan Anh in the Vingroup ecosystem is very clear recently when he holds the position of Deputy General Director of VinFast Production Block - an electric vehicle manufacturing enterprise with a capitalization of tens of billions of USD, ranked 5th in the world.

Pham Nhat Minh Hoang was appointed CEO of a very important company in Vingroup's technology and industry-oriented ecosystem in November. That is the company specializing in buying, selling and renting electric vehicles: FGF Trading and Service JSC - For Green Future, with a scale of 200 billion VND. This is considered a company in the ecosystem and can contribute positively to VinFast's operations.

According to FGF, the mission of this enterprise is to increase access to electric cars for the majority of people, to promote the green transition, contributing to the realization of the Government's Net Zero commitment by 2050. FGF's goal is to become a platform to help develop the used electric car market.

In addition to the scope of buying and selling used cars, FGF Company also provides self-driving electric car rental services (both used and new cars) for organizations and individuals.

The establishment of FGF is the next step of Chairman Pham Nhat Vuong in the greening of transportation in Vietnam. Previously, he established GSM Green and Smart Mobility JSC operating in the field of passenger transportation and V-GREEN Global Charging Station Development Company.

PhamNhatQuanAnh VFS2023Dec18.gif
Mr. Pham Nhat Quan Anh (red tie) at an event of the Group. Photo: VIC

Late last month, Mr. Vuong's two sons, along with Mr. Vuong and Vingroup, established a company with a capital of 1,000 billion VND to research and develop robots: VinRobotics Robot Research, Development and Application Joint Stock Company, with the goal of contributing to improving production efficiency and optimizing processes in the fields of industry, services and life.

VinRobotics is 51% owned by Vingroup, Mr. Vuong contributes 39% of shares, Mr. Quan Anh and Mr. Minh Hoang each contribute 5% of shares.

With VinRobotics, the children and Mr. Vuong will focus on the field of research, development and transfer of advanced technology, especially automation solutions, industrial robots and artificial intelligence (AI). VinRobotics produces and integrates robotics and smart robot products, providing solutions to optimize production processes. VinRobotics' customers are not limited to companies in the Vingroup ecosystem but will expand to businesses operating in other key economic and industrial sectors.

In addition, Pham Nhat Minh Hoang is also a major shareholder of VinVentures Technology Investment Fund - a technology investment fund sponsored by billionaire Pham Nhat Vuong and Vingroup Corporation. The total assets managed by the Fund are 150 million USD.

It can be seen that, although still quite young, billionaire Vuong's two sons are participating in Vingroup's strategic enterprises, contributing to perfecting the high-tech industrial ecosystem, one of the three core pillars of this group.

Billionaire Pham Nhat Vuong and his wife received an additional 5 trillion VND . When Vingroup paid dividends in shares and bonus shares, Mr. Pham Nhat Vuong and his wife, the richest tycoon on the Vietnamese stock market, received 5,530 billion VND.