Last week Masterise Group, a property development firm tied to private lender Techcombank, announced that it had appointed 30-year-old Ho Anh Minh as CEO.
Minh is the son of Techcombank chairman Ho Hung Anh, one of the Vietnam’s five billionaires.
Filings show that Minh owns 10% of Masterise, which is known for many luxury property projects in HCMC and other localities.
Minh also owns a 4.87% stake in Techcombank, which is equivalent to around VND10 trillion (US$392 million) based on the current price of the share.
He joins a growing cohort of 1990s-born Vietnamese taking charge of vast business ecosystems built by their parents over decades.
Industrial real estate developer Kinh Bac City recently named Dang Nguyen Nam Anh, son of chairman Dang Thanh Tam, deputy CEO in charge of project development.
Anh’s sister Dang Nguyen Quynh Anh, 29, was appointed to the board of directors in 2022.
A similar trend is unfolding in the auto industry.
At homegrown auto giant VinFast, deputy CEO Pham Nhat Quan Anh is the son of Pham Nhat Vuong, chairman of parent company Vingroup, the richest man in Vietnam and one of the 500 richest in the world with a net worth of $7.1 billion.
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Graphics by VnExpress/Hoang Chuong |
Anh, 32, owns 150,000 shares of Vingroup.
Anh’s brother, Pham Nhat Minh Hoang, was last year appointed the CEO of Green Future, a company set up and owned by Vuong to sell and lease VinFast cars.
Hoang made headlines last year with his engagement to the 2022 Miss World Vietnam runner-up Nguyen Phuong Nhi.
Both Anh and Hoang own shares in their father’s companies including V-Green, Vinrobotics and VinVenture.
They have appeared alongside the Vingroup chairman at high-profile events like the one to welcome Nvidia CEO Jensen Huang, Indonesian President Joko Widodo, Bulgarian President Rumen Radev, and New Zealand Prime Minister John Key.
Another auto firm with a father-son leadership is TC Group, where 24-year-old deputy CEO Nguyen Anh Tu is the son of founder and chairman Nguyen Anh Tuan.
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Graphics by VnExpress/Hoang Chuong |
Tu is also CEO of Hyundai Thanh Cong Vietnam, a joint venture between TC Group and South Korea’s Hyundai.
He also serves as the chairman of Kumho Vietnam Tire Rubber Production Company.
In the finance sector, 30-year-old Do Vinh Quang has emerged as a notable business leader, becoming deputy chairman of conglomerate T&T Group, a company founded by chairman Do Quang Hien, who is Quang’s father.
Quang owns a VND1.3 trillion worth of shares in Saigon Hanoi Commercial Bank.
The deputy chairwoman of Orient Commercial Joint Stock Bank is Trinh Thi Mai Anh, daughter of chairman Trinh Van Tuan.
Anh owns stakes worth around VND469 billion in the lender.
Nguyen Thao Tien, also known as Tien Nguyen, holds multiple management positions at Imex Pan Pacific Group (IPPG), an investment firm of which her father Johnathan Hanh Nguyen is the chairman.
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Graphics by VnExpress/Hoang Chuong |
The 28-year-old is director of the IPP Community Fund and managing director at DAFC, a distributor of high-end fashion brands such as Armani Exchange, Chanel and Dolce & Gabbana.
However, the children of some other leading entrepreneurs have chosen to strike out on their own.
Nguyen Tan Danh, 35, son of Nguyen Van Dat, chairman of property developer Phat Dat, founded his own real estate firm Filmore Jsc.
Le Dac Giang, 33, son of former VPBank CEO Le Dac Son, runs Vietnam’s top movie review channel on YouTube, Phe Phim, with 2,700 videos and 1.9 million subscribers.
