Forbes Magazine published a new profile of the “philosopher-king of Vietnam’s potent coffee industry” — the founder of Trung Nguyen Coffee, the 41-year-old Dang Le Nguyen Vu, whose net worth is considered to be more than $100 million.
Known locally as Chairman Vu, the coffee king espouses his “coffee doctrine” — the idea that Vietnam needs to develop its coffee industry to move up the value chain because the country currently receives only $1 out of every $20 earned in the global coffee industry, with the bulk of profits going to the likes of Nestlé and Starbucks.
Trung Nguyen, the coffee industry leader in Vietnam, says it had $151 million in sales last year and has grown 78% so far this year. The company targets the Chinese market, and Vu talks of a plan to take his company public and invest $800 million in Vietnam’s surging coffee industry over the next decade.
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