Monday , June 24 2024

Supercar tycoon goes from zero to hero and back


Supercar dealer and collector Phan Cong Khanh’s rapid rags-riches story of a poor boy transforming himself into a Tycoon may have come to an end after his recent arrest.

Phan Cong Khanh poses in front of his car showroom. Photo from Khanh’s Facebook

Phan Cong Khanh poses in front of his car showroom. Photo from Khanh’s Facebook

Authorities reported Sunday that Khanh was under arrest for “investigations over acts of abuse of trust to acquire property.” The arrest gained a lot of attention as Khanh has become famous as the “super car tycoon” of Vietnam.

Khanh started his supercar business after retiring from professional volleyball due to finger ligament injuries shortly after he was called up to join the national team.

Khanh was told that his fingers could never be fully repaired, and the operation he underwent only helped him recover 80% of their original abilities. Not being able to regain his skills, Khanh’s volleyball career ended in 2016.

He was then inspired by his motorbike hobby to open a dealership, which he has focused on since then. He started by reselling second hand motorbikes, and he gradually became significantly established in the field.

Soon enough he was using all the profits he saved to expand into reselling used luxury cars.

Khanh bought his first car, a Ford Mustang, in late-2016. He bought a second car, a 2009-model Audi R8, a year later. And that was the beginning of his soon-to-be renowned collection of super cars.

His business started booming even more rapidly over the past three years as he began importing some of Europe’s most prestigious super cars, including Rolls-Royce, Ferrari, Lamborghini, and Porsche. He has become the go-to car dealer for many celebrities in Vietnam, including pop singer Dam Vinh Hung, star midfielder Quang Hai, and star goalkeeper Bui Tien Dung and his Ukrainian model wife Dianka Zakhidova.

“My family used to be so poor we didn’t dare go to the hospital when we got sick, and that situation lasted until a couple of years ago,” Khanh said in a 2021 interview.

“I started my business simply out of the thought that I wanted to see these cars with my own eyes, so actually owning them like this is really beyond my imagination.”

Khanh was the legal representative of the HCMC-based company K-Supper, which was established in 2020 and is active in the field of used luxury car sales, before he was arrested.

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