Vingroup spent nearly 60 billion dong on senior executive salaries and remuneration in the first half of this year, a 50% increase from the same period last year. Leading these earnings was Nguyen Viet Quang, the company's General Director, whose total income reached 15.7 billion dong, averaging 2.6 billion dong per month – a 60% rise year-on-year.

Quang's earnings comprised 12.6 billion dong in salary and an additional 3.1 billion dong in remuneration for his role as Vice Chairman. Born in 1968, he holds a Master of Laws and a Bachelor of Business Administration from National Economics University. Before joining Vingroup, he served as a Board member and Head of the Supervisory Board at Y Cao Company Limited, a medical firm. He has held the General Director position at Vingroup since 2018.

Beyond Quang, other Vingroup executives also reported substantial incomes in the first half of the year. Vice Chairwomen Pham Thu Huong and Pham Thuy Hang, both relatives of billionaire Pham Nhat Vuong, received 3.3 billion dong and 2.8 billion dong in remuneration, respectively. Nguyen The Anh, Head of the Supervisory Board, earned a salary of 1.8 billion dong.

High executive compensation extended to Vingroup's member companies. Nguyen Thu Hang, General Director of Vinhomes, ranked next in earnings within Pham Nhat Vuong's ecosystem. She received over 11 billion dong in salary and remuneration during the first six months, averaging 1.8 billion dong monthly, a 41% increase year-on-year. Hang was appointed General Director of Vinhomes in 5/2022 and became a Board member in 4/2023. She also chairs Vinpearl.

At Vinhomes, Chairman Pham Thieu Hoa also earned billions, receiving 6.6 billion dong in remuneration, averaging 1.1 billion dong per month. Hoa also serves as General Director of VinSpeed, a railway company founded by billionaire Pham Nhat Vuong. Other leaders with monthly billion-dong incomes included Ngo Thi Huong, General Director of Vinpearl, who received 10 billion dong in the first half of the year (averaging 1.6 billion dong monthly), and Pham Thi Thu Hien, former General Director of Vincom Retail, whose income was approximately 1 billion dong per month.

Vinhomes Central Park project in Ho Chi Minh City. Photo: VIC

Notably, Pham Nhat Vuong, the driving force behind Vingroup's success, does not receive a salary or remuneration from the group. He currently serves as Vingroup's Chairman, a Vinhomes Board member, and VinFast's General Director. Despite this, Forbes estimates his net worth at 36.6 billion USD, placing him 60th globally and making him Southeast Asia's wealthiest person.

These increased executive compensations followed Vingroup and its ecosystem's strong financial performance in the first half of the year. For the six-month period, they reported net revenue of 221.920 billion dong, a 72% increase year-on-year. Real estate was the largest revenue source, contributing over half of total sales.

After expenses, Vingroup's after-tax profit exceeded 20.900 billion dong, nearly 5 times higher than the same period last year. As of 30/6, Vingroup's total assets reached 1.3 trillion dong, an increase of nearly 200.000 billion dong from the start of the year, positioning it as the leading non-financial company on the stock exchange.

Trong Hieu