Starting a business in Ukraine
Phạm Nhật Vượng was born on 5/8/1968 in Hà Nội, with family roots in Hà Tĩnh. After graduating from the Hanoi University of Mining and Geology and studying abroad in Russia, he went to Kharkov (Ukraine) to start a business in 1993. Seizing on the food shortage in the post-Soviet period, he founded the company Technocom, producing instant noodles under the brand Mivina, a product that quickly became popular throughout Ukraine and then expanded into other instant products (seasoning powder, instant potatoes, egg noodles...). Before the food segment was sold to Nestlé in 2010, the Mivina brand was valued at more than 1 billion USD.
Building Vingroup in Vietnam
Using capital accumulated from Ukraine, he returned home to invest in real estate, founding Vinpearl (2000) and then Vincom (2002), the predecessors of today's Vingroup Group. Vingroup listed on the Ho Chi Minh City stock exchange in 2007 and quickly became one of the largest multi-sector private groups in Vietnam.
Vingroup today
From real estate (Vinhomes) and retail, Vingroup expanded into healthcare (Vinmec), education (Vinschool, VinUni), and from 2017 moved into the electric vehicle industry with the VinFast brand. In August 2023, VinFast listed on the Nasdaq (US), a rare milestone for a Vietnamese enterprise on the international capital market. He has continuously been the richest person in Vietnam and among the top USD billionaires in the world according to Forbes rankings, although his asset value fluctuates sharply with the market price of VinFast shares.
Expanding the ecosystem and restructuring VinFast (2024-2026)
Beyond the core segments, he continued to expand the Vingroup ecosystem into new technology fields. In July 2024, he founded the company FGF (For Green Future), with charter capital of 200 billion đồng, of which he personally owns 90% of the shares, operating in the buying and selling of VinFast electric vehicles and the rental of self-driving electric cars in major cities; the company later changed its name to Green Future (GF). In November 2024, together with Vingroup he founded VinRobotics Joint Stock Company for Research, Development and Application of Robotics, with charter capital of 1,000 billion đồng (Vingroup holds 51%, Mr. Vượng 39%, and his two sons Phạm Nhật Quân Anh and Phạm Nhật Minh Hoàng 5% each), focused on research into industrial robots and artificial intelligence, part of the industry and high-technology pillar that the group pursues.
In June 2026, VinFast carried out a major restructuring: separating its manufacturing operations in Vietnam into the company VinFast Vietnam (VFVN, responsible for research and development, intellectual property, sales), with charter capital of about 5,184 billion đồng, while the remaining manufacturing entity (charter capital of about 85,609 billion đồng) was transferred at a transaction value of about 13,309.6 billion đồng (equivalent to about 530 million USD) to a group of investors led by Công ty Nghiên cứu Phát triển Tương lai, in which Mr. Vượng participated as a minority shareholder. On 22/6/2026, he stepped down as General Director of the VinFast manufacturing company in Vietnam (Mr. Trịnh Văn Ngân succeeded him), but continued as General Director of VinFast globally, responsible for manufacturing strategy, sales and international markets.
Billionaire standing (updated 2026)
According to Forbes' real-time rankings, as of early September 2026 Mr. Phạm Nhật Vượng's net worth reached about 39.3 billion USD, ranking 54th on the list of the world's richest people. He continues to be the richest person in Vietnam and Southeast Asia, surpassing many Asian technology billionaires such as Samsung Chairman Lee Jae-yong, Jack Ma (Alibaba) and Lei Jun (Xiaomi). His assets fluctuate sharply with the market prices of VIC (Vingroup) and VHM (Vinhomes) shares, as well as VinFast's global expansion prospects.