Thi's father came from a family of Cao Dai adherents while his mother was a Roman Catholic.

His maternal grandfather was one of the richest Chinese landowners in Bac Lieu at the turn of the 20th century.

[3] His parents separated in 1937 after their fourth child was born, and his mother took their four children back down to her hometown in Tam Vu.

[5][2]: 93 Lam fled with his family to the United States in May 1975, when South Vietnam fell to the invading North Vietnamese army.

Lam earned a French Baccalaureate Degree in Philosophy and an MBA, both from Golden Gate University in San Francisco.