Wife of Vietnam’s Richest Man Named Chairwoman of Ride-Hailing Operator

The wife of Vietnam’s richest man, Pham Nhat Vuong, has been named chairwoman of GSM, the operator of ride-hailing service Xanh SM.

Huong owns a 4.4% stake in Vingroup. (Photo: VinGroup) 

GSM said in a disclosure to authorities on Wednesday that Pham Thu Huong took over the post the same day from Phan Thanh Long, who had held the position since the company was established in 2023, Trong Hieu reported for VN Express.

Huong, 57, who holds a master’s degree in international law from Ukraine, is one of the founders and vice chairwoman of Vingroup, the largest listed private company in Vietnam.

She owns a 4.4% stake in the firm.

In early February, Forbes recognized her as a billionaire, with her net worth now estimated at $2.9 billion.

Initially focused on ride-hailing services, GSM has expanded into food delivery, parcel delivery, inner-city transportation, and car and electric motorbike rentals. It uses only vehicles produced by VinFast, another company controlled by Vuong.

Xanh SM now operates in 34 provinces and cities across Vietnam and in countries such as Laos, Indonesia, and the Philippines.

Huong’s appointment comes as the company plans to expand further, with ambitions to enter 10 new countries this year.

A report by India-based market researcher Mordor Intelligence said GSM holds a 51.5% share of Vietnam’s four-wheel ride-hailing market based on gross merchandise value, surpassing competitors such as Grab and Be.