Billionaire Pham Nhat Vuong Ventures into Aerospace
On November 3, 2025, Vinspace JSC was established with a charter capital of 300 billion VND. Pham Nhat Vuong contributed the largest share at 213 billion VND, equivalent to 71%; Vingroup contributed 57 billion VND, or 19%. Pham Nhat Quan Anh and Pham Nhat Minh Hoang each contributed 15 billion VND, representing 5% each.
The company operates in six sectors, most notably the production of aircraft, spacecraft, and related machinery; and air cargo transportation.
With the establishment of Vinspace, Pham Nhat Vuong officially joins the ranks of entrepreneurs in the aerospace industry, alongside Elon Musk (SpaceX), Jeff Bezos (Blue Origin), and Richard Branson (Virgin Galactic). This does not include Nguyen Duc Thuy, Chairman of LPBank and founder of Thaiholdings JSC.
In late 2021, Thuy founded Thaispace JSC with a charter capital of 26,688 billion VND, aiming to launch the first space flight from Phu Quoc, pending regulatory approval. However, the company later reduced its capital, changed its legal form from JSC to LLC, and its original shareholders, including Thuy, are no longer involved.
Pham Nhat Vuong Trails Only Elon Musk in Neurotechnology
As Vingroup expands into electric vehicles (VinFast), artificial intelligence (Vin Smart Future, formerly VinIT), transportation infrastructure (VinSpeed), and most recently aerospace (Vinspace), a clear parallel emerges between Pham Nhat Vuong’s ecosystem and that of the world’s richest man, Elon Musk.
Just as Elon Musk’s Tesla is a global icon of electric vehicles, Pham Nhat Vuong’s VinFast is Vietnam’s pioneering force, betting on the future of electric mobility.
To address urban transportation challenges and develop high-speed transit systems, Elon Musk founded The Boring Company for tunnel projects, while Vuong is expected to develop VinSpeed, focusing on railway construction, locomotive and carriage production, and high-speed transport infrastructure.
In the AI race, Elon Musk launched xAI, while Pham Nhat Vuong’s Vin Smart Future (formerly VinIT) serves as a cornerstone for AI research and applications, powering the entire ecosystem.
Elon Musk’s social media platform X (formerly Twitter) has a counterpart in Vuong’s recent ventures into media and entertainment, including V-film, V-Culture Talents, and V-Spirit.
In space exploration, Elon Musk’s SpaceX is matched by Pham Nhat Vuong’s VinSpace. SpaceX is also renowned for its Starlink satellite internet service.
Elon Musk’s Neuralink, a neurotechnology company developing brain-machine interfaces, remains an area where Vuong has yet to venture.
The global space race also includes Jeff Bezos’ Blue Origin, which aims to build extraterrestrial infrastructure, and Richard Branson’s Virgin Galactic, focused on commercializing suborbital space tourism.
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