The public is paying attention to billionaire Pham Nhat Vuong's business when Vingroup and companies in the ecosystem announced a 250 billion VND sponsorship for people suffering damage from super typhoon Yagi and prolonged floods.
The funds are expected to be allocated directly to emergency relief activities such as rebuilding about 2,000 collapsed houses, providing support of 150 to 300 million VND to families of those who died, contributing to the reconstruction of infrastructure as well as civil works... helping people quickly stabilize their lives after natural disasters.
In the announcement, billionaire Vuong's group said that the budget was mobilized from two sources: funds from the group and its member companies and voluntary contributions from more than 130,000 Vingroup employees across the system. According to the company's emphasis, the spirit is "no Vingroup person will stand outside the loss and pain of their compatriots".
Mr. Pham Nhat Vuong - Chairman of Vingroup (Photo: Bloomberg/Vingroup).
The figure of 250 billion VND in sponsorship for a business is very large. According to readers' assessment, in charity work, the important thing is the heart and the way of doing, depending on the conditions of each individual and organization, the amount of money is not important. However, if we can contribute large resources, it will bring more opportunities for our compatriots to overcome difficulties and adversity, and rebuild their lives.
Vingroup also proactively and pioneeringly stands side by side with the community to overcome difficulties and challenges in its role as one of the largest private enterprises in Vietnam.
Up to now, Mr. Pham Nhat Vuong is recognized as the richest person in Vietnam while Vingroup and Vinhomes are enterprises in the group with the largest capitalization scale on the stock market.
As of September 13, the market capitalization of VIC reached VND164,035 billion and that of VHM reached over VND187,238 billion. Meanwhile, the net worth of Mr. Pham Nhat Vuong - Chairman of Vingroup's Board of Directors - according to Forbes is 4.3 billion USD.
On Vingroup's side, according to Vingroup's audited semi-annual consolidated financial report, as of June 30, the group had VND28,565.4 billion in cash and cash equivalents, an increase of nearly VND583 billion compared to the beginning of the year. Of which, bank deposits were VND27,340.9 billion.
Mr. Pham Nhat Vuong's group recorded VND64,065.6 billion in net revenue in the first half of the year; profit after tax was VND2,053.6 billion, net profit belonging to the parent company reached VND4,415.7 billion. Compared to the same period in 2023, Vingroup's profit after tax increased more than 2 times.
Mr. Pham Nhat Vuong was on the list of Asia's leading philanthropists (Heroes Of Philanthropy) in 2020 and 2021. Recalling the above period, the total value that Vingroup sponsored for Covid-19 prevention and control activities in Vietnam reached more than 2,287 billion VND.
Vingroup's Thien Tam Fund was established in 2006, with all operating costs funded by Vingroup and its leaders. Starting in 2022, Vingroup has reduced its contribution rate to the Thien Tam Fund. Instead, Mr. Pham Nhat Vuong and Vingroup staff will continue to accompany the Thien Tam Fund to balance the interests of Vingroup, shareholders and other related partners.
In a rare interview with the press, Mr. Pham Nhat Vuong once said: "I don't have many needs. I have food, clothes, a house, a car... ". He also has no intention of buying a private jet because "people only buy them if they fly all day, but I don't go anywhere much, buying a jet will be a loss". The Vingroup Chairman's point of view is: If something is worth it, invest no matter how much, but if it's not worth it, don't spend a single penny.
He also expressed that he is not interested in being among the richest people in the world. "My concern is what I can do for life, what I can bring to society, to customers or more broadly, to my people," he said.
Source: https://dantri.com.vn/kinh-doanh/vingroup-ung-ho-250-ty-dong-ong-pham-nhat-vuong-giau-nhu-the-nao-20240914100237563.htm
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