He built the Vingroup empire. Now South-east Asia’s richest man is handing some key roles to his sons

Inside Asia’s family empires: How they are transforming to seize the next stage of growth

A 1,000 per cent surge in Vingroup’s shares has transformed the fortunes of founder Pham Nhat Vuong. Now, the Vietnamese billionaire is handing the management of two key businesses to the next generation within a sprawling empire that spans property, transport, automotive, infrastructure, technology and services.

Vuong’s eldest son, Pham Nhat Quan Anh, 33, was named global chief executive of Vingroup’s electric-vehicle (EV) unit VinFast on Sep 12, succeeding his father while retaining the chairmanship he assumed in May.