Vingroup Executives Earn Billions Monthly Amid Strong Financial Performance

Vingroup, Vietnam's leading conglomerate, announced that it paid nearly VND60 billion (approximately $2.4 million) in salaries and remuneration to its senior executives in the first half of this year, a nearly 50% increase compared to the same period last year. The company's strong financial performance in the first six months of the year, with net revenue reaching VND221.92 trillion ($9.4 billion), a 72% surge year-on-year, and after-tax profit soaring to over VND20.9 trillion ($880 million), nearly five times higher than the previous year, is cited as the reason for the increased executive compensation. Nguyen Viet Quang, Vingroup's CEO, was the highest earner, receiving VND12.6 billion in salary and an additional VND3.1 billion as Vice Chairman, totaling VND15.7 billion for the period. This translates to an average monthly income of VND2.6 billion, a 60% increase from the first half of last year. Quang, born in 1968, holds a Master's degree in Law and a Bachelor's degree in Business Administration from the National Economics University. Before joining Vingroup in 2018, he served as a board member and head of the control board at Y Cao Limited Company, which operates in the medical field. Other Vingroup executives also received substantial compensation. Vice Chairwomen Pham Thu Huong and Pham Thuy Hang, who are part of billionaire Pham Nhat Vuong's family, received VND3.3 billion and VND2.8 billion respectively. Nguyen The Anh, head of the control board, earned VND1.8 billion in salary. Within Vingroup's ecosystem, Nguyen Thu Hang, CEO of Vinhomes, received over VND11 billion in salary and remuneration, averaging VND1.8 billion per month, a 41% increase. She also holds positions as a board member of Vinhomes and Chairwoman of Vinpearl. Pham Thieu Hoa, Chairman of Vinhomes, earned VND6.6 billion in remuneration, averaging VND1.1 billion monthly. He also serves as CEO of VinSpeed, a railway company founded by Pham Nhat Vuong. Ngo Thi Huong, CEO of Vinpearl, received VND10 billion in the first half, averaging VND1.6 billion per month. Pham Thi Thu Hien, former CEO of Vincom Retail, had an income of approximately VND1 billion per month. Notably, Pham Nhat Vuong, the founder and chairman of Vingroup, does not receive a salary or remuneration from the group. He is currently the wealthiest person in Southeast Asia, with a net worth of $36.6 billion according to Forbes. As of June 30, Vingroup's total assets reached VND1.3 quadrillion ($54.6 billion), an increase of nearly VND200 trillion ($8.4 billion) from the beginning of the year, positioning it as a leader among non-financial companies on the stock exchange.