The next-generation of billionaires’ families own trillions of dong worth of stocks and run large businesses.
Do Huu Duy Anh of Duc Giang Chemicals (left)
The successor of Duc Giang Chemicals
Do Huu Duy Anh works for his family-run company, Duc Giang Chemicals Group JSC. Before studying abroad, Anh was sent by his father to the factory in Long Bien district in Hanoi to work as a construction worker. Returning to Vietnam, he became the assistant to the CEO and two years later became deputy CEO of the company at the age of 25.
He took the office as CEO of Duc Giang six years later. Now Anh, 33, holds VND300 billion worth of shares.
Anh said it is unreasonable to consider Duc Giang a family-run company, because it lists shares on the bourse. Only the president and CEO are family members, while factory directors are not.
The son of US dollar female billionaire
In 2019, Tommy Nguyen, the son of Nguyen Thi Phuong Thao, the only female billionaire in Vietnam, became the co-founder of Swift 247, a technology startup operating in the field of logistics and forwarding.
When he was at school, he decided to ‘do something different’ regarding the mode of transport in the Vietnamese market. He found that Prime Amazon could ship goods in 29 states in the US within two days, while there were many problems in logistics services in Vietnam and Asia in the context of the e-commerce boom. That was why his startup was established.
In September 2020, Vietjet announced the restructuring and development of cargo transport by air using digital technology and e-commerce via an M&A between Vietjetair Cargo and Swift247.
In November 2020, Swift247 changed its business registration with charter capital of VND47 billion. The company shifted from a limited company into a joint stock company. Vietjet is the shareholder with controlling stake (67 percent of capital).
Young banker owns trillions of dong
ACB shares have seen prices increase by VND4,300 per share, or 16.04 percent, since early February. With the share price increase, the stock assets of Tran Hung Huy, chair of ACB, and his family members, have increased sharply.
The 2020 report released by ACB showed that Huy owns 74.07 million shares, or 3.43 percent of the bank’s chartered capital. Dang Thu Thuy, a member of the board of directors, holds 28.82 million shares, or 1.19 percent.
Prior to that, at the annual general meeting of shareholders in April 2018, the group of shareholders related to Nguyen Duc Kien, or "Mogul Kien", was holding over 10 percent of ACB shares. Of this, Kien had 31.57 million shares, while Dang Ngoc Lan, his wife, had 38.5 million shares.
After the trading session on February 20, the assets of Kien and his wife increased by VND137 billion and by VND301 billion, respectively, compared with early February, to VND2.193 trillion.
Meanwhile, the assets of Tran Hung Huy and his family members increased by VND371 billion on February 19 and by VND818.2 billion, respectively, compared with early February.
Boss Hien’s son
Do Vinh Quang, born in 1995, is the son of Do Quang Hien, who is chair of the board of directors of Trang Thi Trade and Service. He has been in this post since November 2020.
After becoming chair of the board of directors, the company organized an extraordinary shareholders’ meeting on the issuance of 40.5 million shares to existing shareholders at VND30,000 per share.
The issuance will be implemented in first and second quarter after which the company’s charter capital will rise from VND135 billion to VND540 billion.
The capital to be mobilized from the bond issuance, about VND1.215 trillion, will be used to develop business activities, increase working capital, contribute capital and buy into other legal entities, develop real estate projects, and expand business scale and business fields.
Hoa Sen Group
Hoa Sen Group of Le Phuoc Vu has announced information related to the delay of a plan to buy 22 million treasury stocks and sell all the treasury stocks it had bought prior to January 1, 2021.
HSG owns 327,100 treasury stocks bought from workers who resigned.
HSG share prices have increased sharply, now hovering around VND25,000 per share. HSG value has increased by five times compared with one year ago and has brought VND9 trillion more to shareholders.
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