Vietjetís President and CEO to Become
Vietnamís First Female Billionaire
Nguyen Thi Phuong Thao, President and CEO of
Vietjet Aviation Joint Stock Company is set to become
one of Southeast Asiaís first self-made female billionaires.
Vietjet, in which Madam Thao owns a 95% stake, is planning
an initial public offering (IPO) in the coming months.
is looking to offer as much as a 30% stake and aims to seek
a valuation of more than $1 billion.
After this Madam Thao, aged
45, is set to have a net worth exceeding $1 billion, making her
Vietnamís first female billionaire.
The majority of her wealth
comes from her majority stake in Sovico Holdings, which own
Vietjet and Dragon City, a real estate development in Ho Chi Ming
(also known as Saigon), as
well as other ventures.
Madam Thaoís business ventures began in
1988 when she was studying in Moscow, where she began as a trade
distributor for clothing, office equipment and consumer goods,
making her first million when she was just 21. She then moved on to
trade steel, machinery and other commodities before returning to
Vietnam to invest in a bank.
Vietjetís revenue tripled to 10.9 trillion dong ($488
million) last year, while net income rose to almost 1 trillion
dong. The airline now accounts for more than a 30% market
share in Vietnam.
Vietjet currently operates 47 domestic and