Billionaire Pham Nhat Vuong "stores" billions of dollars in the safe

Chairman of the Board of Directors of Vingroup - Pham Nhat Vuong was born on August 5, 1968, originally in Ha Tinh province. Currently, he is the leader in the list of USD billionaires in Vietnam.

Statistics on the wealth of the rich on the Vietnamese stock market through the value of stock holdings show that, in a short time, the ranking of the leaders has changed significantly.

As of the closing time of the last trading session of the week (July 8), the value of Mr. Pham Nhat Vuong's assets was at VND 156,519 billion. Compared to the beginning of the year, the assets on the stock exchange of the Chairman of Vingroup's Board of Directors have decreased by more than 48,500 billion VND. The richest person in Vietnam is directly owning 985.5 million shares and indirectly 1.17 billion VIC shares.

However, up to now, Mr. Vuong is still the richest man in Vietnam's stock market and creates a very long gap with the rich people ranked behind. Recently, Vinhomes Joint Stock Company (VHM) of billionaire Pham Nhat Vuong has just released its consolidated financial statements for the second quarter of 2022, with the highlight being that the amount of cash and cash equivalents skyrocketed many times over the same period. last year.

Accordingly, Vinhomes of billionaire Pham Nhat Vuong has "stored" a large amount of money. According to the report, by the end of the second quarter of 2022, Vinhomes recorded the amount of cash and cash equivalents up to nearly 29.8 trillion dong, much higher than the figure of 4,600 billion dong in the same period in 2021.

In which, cash is 1,919 billion dong, bank deposit is more than 3,500 billion dong. Cash equivalents are nearly 26.3 trillion VND. Cash equivalents as at 30/6/2022 include investments and deposits in VND at commercial banks with terms from 1 to 3 months, earning interest rates from 3% to 8%/ year.

This is a factor that is considered to be sustainable when most real estate businesses as well as construction businesses face difficulties in the second quarter of 2022, when the State Bank tightens real estate and securities credit in the context of financial crisis. domestic inflation may increase in line with world instability.

Business results of Vinhomes and a number of real estate and construction businesses were not bright in the second quarter in the context that domestic inflation may increase in line with world uncertainties. With a large amount of cash, some businesses have the opportunity to expand their land bank and wait for the macroeconomic improvement as well as the vibrant real estate market to return. Many forecast that, in the next few months, the State Bank will open more credit room for some banks. The real estate market will then reduce pressure.

Chairman of the Board of Directors of Vingroup - Pham Nhat Vuong was born on August 5, 1968, originally in Ha Tinh province. Currently, he is the leader in the list of USD billionaires in Vietnam.

In 1987, after passing the entrance exam to Hanoi University of Mining and Geology with outstanding mathematical achievements, just turned 18 years old, Mr. Pham Nhat Vuong was sent by the Government to Russia to continue his research in Geology. learn.

After graduating from the geoeconomic school in Moscow in 1992, Mr. Vuong invested about 10,000 USD and opened a restaurant in Kharkov. After that, he returned to Vietnam and bought a rudimentary double-squeeze instant noodle line and started producing Miniva instant noodles, sold to local people. With a start with only 30 employees, "Mivina" has become a particularly attractive brand that was quickly accepted by the Kharkov market and later famous throughout Ukraine. In the following years, Mr. Pham Nhat's factory did business smoothly, even the Mivina instant noodle brand was widely sold in over 30 countries.

In the early 2000s, when business was favorable, Mr. Pham Nhat Vuong decided to sell his business in Kharkov and return to Vietnam to set up a business. In 2001, he further established Vincom Company, specializing in the construction of commercial centers and high-class housing. After that, the two companies were merged to become Vingroup Group, focusing entirely on domestic investment resources. Pham Nhat Vuong was first honored by Forbes in 2013 with a total asset of up to 1.5 billion USD.

Pham Nhat Vuong is currently ranked 411th on the general ranking of the world's richest people with a fortune of about 6.2 billion USD, according to Forbes.

Billionaire Pham Nhat Vuong has just 'flown out' $ 27 billion after 1 night, being 'kicked' out of the top 2 richest people in Asia Đức Trí10:13:18 30/08/2023The notorious billionaire of Vietnam - the tycoon of a series of famous business chains, Vingroup founder Pham Nhat Vuong has just made people stir, when his fortune suddenly dropped sharply, up to $ 27 billion overnight.