Sun. Jun 16th, 2024

Viet Nam gets first dollar billionaire

Mr Pham Nhat Vuong.— photo

HA NOI (VNS)— Pham Nhat Vuong has become the first Vietnamese billionaire to enter the Forbes list of world’s richest individuals.

Vuong, who ranks 974th, boasts total assets of US$1.5 billion due in large part to the 53 per cent stake he owns (both indirectly and directly) in Vingroup, his real estate development firm.

Born in Ha Noi in 1968, Vuong started his career in Ukraine by producing noodles, eventually styling himself as Ukraine’s processed-food king. His noodle company, Technocom, had revenues of $100 million by 2010, when he sold the company for an estimated $150 million to Nestle. — VNS

By vivian