Billionaire Pham Nhat Vuong and His Two Sons Establish Vinspace in Space and Aviation Industry

Vinspace was established on November 3, 2025, with a charter capital of 300 billion VND, contributed by Vingroup, billionaire Pham Nhat Vuong, and his two sons. Vuong contributed 213 billion VND (71%), Vingroup 57 billion VND (19%), and each son 15 billion VND (5%). The company will operate in areas such as aircraft and spacecraft manufacturing and air cargo transport. Nguyen Mai Hoa is the Chairman, a well-known figure in Vingroup. The financial report for the first 9 months of 2025 shows Vingroup with a revenue of 169.611 trillion VND (6.45 billion USD), up 34% year-on-year, with a post-tax profit of 7.565 trillion VND. The real estate segment, primarily Vinhomes, remains the largest revenue source, accounting for 46% of total revenue, while VinFast has become the second largest revenue pillar with nearly 30%.