Mr. Pham Nhat Vuong, Chairman of the Board of Directors (BOD) of Vingroup, continues to attract attention when the group's 2024 financial report shows that he did not receive any remuneration from his leadership role.
This is not the first time this billionaire has chosen a zero-dollar salary. For many years, Mr. Vuong has not received a salary from Vingroup, despite being the head of one of the largest corporations in Vietnam with revenue in 2024 reaching nearly 190,000 billion VND, an increase of 17% compared to the previous year.
Despite not having a salary, billionaire Pham Nhat Vuong recently recorded a breakthrough increase in assets.
According to the latest update from Forbes, as of April 1, Chairman of Vingroup and CEO of VinFast Pham Nhat Vuong recorded a spike in assets to the highest level in the past 2 years, reaching 7.7 billion USD.
With this level, Mr. Vuong ranked 398th in the world and the richest in Vietnam, up 441 places compared to the end of January.
Billionaire Pham Nhat Vuong is also far richer than US President Donald Trump. As of April 1, Mr. Trump had assets of 4.9 billion USD, ranking 706th in the world, according to Forbes.
Not only Mr. Vuong, in Vietnam, many other famous businessmen also choose a salary of 0 VND but have very large assets.
Mr. Nguyen Duc Tai, Chairman of the Board of Directors of Mobile World (MWG), has not received a salary for many years but owns assets of about 4,900 billion VND.
Chairman of Hoa Phat Group Tran Dinh Long did not receive salary when the company was in difficulty, but his assets still increased and he is one of the 5 USD billionaires in Vietnam.
Mr. Truong Gia Binh (Chairman of FPT), Ms. Nguyen Thi Thanh Phuong (Ban Viet Securities)... also continuously receive zero salary. Mr. Nguyen Dang Quang, Chairman of the Board of Directors of Masan Group, has not received salary since 2013 despite achieving impressive business results.
In the world, the phenomenon of zero salary is no longer strange to famous businessmen. Elon Musk, CEO of Tesla and SpaceX, once announced that he would not receive a salary from Tesla for many years. However, his assets at times exceeded the 400 billion USD mark, mainly coming from Tesla stocks and other companies in the ecosystem.
Mark Zuckerberg, founder of Facebook (now Meta), has received a symbolic salary of only $1/year for many years, but his personal assets as of April 1 reached more than $202 billion thanks to the increase in the price of shares in Meta.
Similarly, Steve Jobs, when he was still leading Apple, also received only $1/year, even though his assets tied to Apple and Pixar stocks were worth billions of dollars before he passed away.
Mr. Vuong's wealth comes mainly from his shares in Vingroup and related companies such as VinFast. Mr. Vuong directly holds more than 691 million Vingroup shares and indirectly holds Vingroup shares through Vietnam Investment Group Joint Stock Company (more than 1.26 billion shares). In addition, there are Mr. Vuong's personal investments in the Vingroup ecosystem.
In 2023 and 2024, Mr. Pham Nhat Vuong has funded the group's subsidiaries with a total of nearly 27.3 trillion VND. Previously, Mr. Vuong had committed to funding billions of USD for VinFast.
Mr. Pham Nhat Vuong's assets increased in the context of strong increase in Vingroup (VIC) and Vinhomes (VHM) shares and Vinpearl shares about to be listed on the stock exchange.
Since the beginning of March, VIC shares have increased by about 40%, from 42,000 VND/share to the current 60,000 VND/share.
Recently, members of the Vingroup ecosystem have been receiving support from billion-dollar projects. On March 26, Vingroup started construction of the Hau Nghia - Duc Hoa new urban area (Long An) with a total investment of more than 1 billion USD. The Vin-Tech joint venture (Vingroup and Techcombank) plans to start construction of the Gia Nghia - Chon Thanh expressway project, 129 km long, with a capital of nearly 1 billion USD, on April 30.
Besides, the Can Gio coastal urban area in Can Gio district (Ho Chi Minh City) with a scale of 2,870 hectares (28.7 km2) is being implemented by a subsidiary of Vingroup with a total investment of more than 8.5 billion USD...
In the electric vehicle sector, VinFast said it has completed 90% of the construction progress of its electric car factory in India.
TB (according to Vietnamnet)Source: https://baohaiduong.vn/ty-phu-pham-nhat-vuong-nhan-luong-0-dong-tai-san-ty-usd-408568.html
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