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—
Nguyen Thi Phuong Thao
known as the richest female entrepreneur in
Vietnam
.One source of his wealth comes from the low-cost airline (LCC) business Vietjet Air, which went viral because its flight attendants wore bikinis.
Based on notes
Forbes
, Sunday (7/12), Phuong Thao’s total assets reached US$4.7 billion or around Rp. 79.92 trillion (assuming an exchange rate of Rp. 16,650 per US dollar).
His wealth places Phuong Thao in 860th place on Forbes’ real-time list of the richest people.
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So what is his life story?
Reporting from various sources, Nguyen Thi Phuong Thao was born in Hanoi, Vietnam on June 7 1970. He was raised by a family that was relatively well off.
Since childhood, Phuong Thao’s intelligence has been visible.Not surprisingly, when she was in elementary and middle school, she was known as an outstanding student.
At the age of 17, Phuong Thao continued his higher education at one of the prestigious universities in Moscow, Plekhanov Russian University.He was so smart that he earned two bachelor’s degrees, namely in financial credit management and labor economics.
In his second year of college, Phuong Thao saw an opportunity in the deteriorating Russian economy amidst the Afghan-Soviet war.At that time, Russia had difficulty importing goods from other countries.Phuong Thao also set up a trading business in various commodities ranging from rubber, agricultural products, plastics, fax machines.
The opportunity that was seized bore sweet fruit.Reported
Bloomberg
, Phuong Thao became a millionaire at the age of 21 thanks to selling rubber and fax machines.
He continued his studies until he earned a PhD from Russia’s D Mendelev University of Chemical Technology in the field of management economics.
Phuong Thao, who was married to Nguyen Thanh Hung, returned to Vietnam in 1993. Soon, the two of them founded an investment holding company, Sovico Holding (Sovico Group).
In fact, Sovico Group invests in many sectors.However, the most popular business line is the airline VietJet Air.
Phuong Thao founded Vietjet Air in 2007 after predicting that demand for low-cost airlines would increase as the economy progressed.
Vietnam’s first private LCC airline began operations on December 25 2011 serving domestic routes.When it was launched, the airline went viral because its flight attendants wore bikinis.
“You can wear whatever clothes you like, such as bikinis or traditional clothes (ao dai). We don’t mind if people judge us for our bikini flight impressions, if they are happy then we are happy,” said Phuong Tao, who serves as CEO of VietJet Air, in an excerpt from an interview with Bloomberg in 2016.
With his cool hands, Phuong Thao succeeded in developing Vietjet Air as the largest private airline in Vietnam.
On February 28 2017, Vietjet Air officially listed on the Ho Chi Minh stock exchange.Through the IPO, the company managed to raise US$ 167 million to develop the business.
Currently, VietJet Air employs around 2,000 employees with total assets exceeding US$2.5 billion.As of the end of 2025, this airline operates a fleet of around 120 aircraft serving more than 100 routes, both domestic and international.
Apart from the airline business, Phuong Thao also made his fortune from the Sovico Group real estate business in Dragon City as well as three five-star resorts in Vietnam, namely Furama Resort Danang, Evason Ana Mandara Nha Trang and An Lam Ninh Van Bay Villas.
Not only that, Phuong Thao’s wealth also comes from Sovico Group’s investment in HD Bank and technology companies.
Phuong Thao and her husband have two children.His son, Tommy Nguyen, studied at Oxford University where Phuong Thao had intended to donate educational donations to Linacre College of up to £155 million through the Sovico Group.
“Education and research are the keys to human development and prosperity,” said Phung Thao when announcing the donation, as reported by the Guardian in November 2021.
Unfortunately, as reported
The Telegraph
, the education donation will be canceled in 2023. This is because there was a delay in disbursing the first donation worth 50 million pounds sterling and the Vietnamese government restricted capital outflows.
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