Nepali business tycoon, industrialist and philanthropist, Binod Chaudhary is the first Nepali billionaire. He is a man of great audacity and tact who married his love despite hesitation from their families and built a billion dollar empire out of the relatively humble business enterprise he took over from his father.
Binod Chaudhary is also a singer and actor having released an album, he acted in a Nepali feature film. The man’s interest goes beyond doing business and singing to include playing golf, playing squash, and seeking adventure by travelling to remote corners of the world.
Apart from his business ventures, Binod Chaudhary supports his country as a philanthropist by making contributions in several fields of health, sports, education and youth empowerment. Gyan Udaya Scholarship and Samata Siksha Niketan are some of the major initiatives taken by his company in the field of education.
Binod Chaudhary Bio
Binod Chaudhary, born April 14, 1955, to Lunkaran Das and Ganga Devi Chaudhary is the eldest of three sons and an inquisitive, strategic, and entrepreneurial-minded personality since his childhood.
His grandfather, Bhuramal Chaudhary, a textile trader, migrated to Nepal from Rajasthan and used to sell saris and other clothing to a broad customer base that also included the then Royal family of Nepal. His father, Lunkaran Das Chaudhary expanded the business and opened the first departmental store in the country, known as Arun Emporium.
In his autobiography, he mentions his first entrepreneurial venture to be a school project where students set up and managed a shop inside school premises that sold items like candies and biscuits. He took responsibility for the family business and dropped his studies at the age of 18. He has never looked back ever since. His lineage and his nature amalgamated to make him the businessman he is.
Binod Chaudhary spearheaded the making of Chaudhary Group (CG), an international conglomerate of more than 45 companies, 60 brands in 30 countries and over 6000 employees under its wings with the help his two younger brothers – Arun and Basanta, and his three sons – Nirvana, Rahul and Varun.
Currently, Binod executes his role as Chairman Emeritus, CNI (since Jan 2013), and President, Chaudhary Group, Nepal. Currently, Nirvana Chaudhary – the eldest son manages business affairs in Nepal while Rahul and Varun keep themselves busy overseas.
Today, Chaudhary Group is one of the biggest corporate houses in Nepal. CG has their diverse investment in almost all types of commodities; including food, noodles, cement, energy and hydro-power, banking and finance (not to forget a controlling stake in Nabil Bank Limited), real estate and hotels, electronics, home appliances, education, biotechnology, and retail.
Major part of his fortunes are made across the borders through Singapore based CINNOVATION (the holding company of Cigen Corporation), by being a minority shareholder of Tata Groups’ Taj Hotel Resorts and Palaces in India, purchasing ST Telecom, a rural telecom operator, and other real estate businesses all over the globe like Hotels in Rwanda, Uganda, and Burundi.
CG’s most popular product in Nepal and the reason for it’s primary rise to fame is a product called “Wai Wai”, a brand of noodles. Wai Wai is, originally, a Thai brand. Binod Chaudhary gained legal rights to produce the noodles in Nepal under the brand name of Wai Wai, and later gained rights to produce and distribute the brand worldwide.
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His Financial Standing
It is believed that Binod has a net worth of $1.38 billion. He entered the billion-dollar club in March 2013, as the 1460th richest person listed by Forbes becoming the first person from Nepal to join the ultra-rich elites while he currently ranks at the 1465th spot.
Said to have been influenced by several entrepreneurs like Richard Branson, Donald Trump, Warren Buffet, and Ratan Tata, Chaudhary also follows Barack Obama, Narendra Modi, Bill Clinton, Hillary Clinton, Arvind Kejriwal, and two Nepali politicians Dr Baburam Bhattarai and Dr Ram Sharan Mahat owing to his interests in politics.
A keen follower of the Art of Living, Binod Chaudhary praises Sri Sri Ravi Shankar and is also a lover of Bollywood movies with Amitabh Bachchan and Vinod Khanna being his all-time favorites.
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Quick Facts about the Billionaire
Full Name: Binod Chaudhary
Profession: Businessperson, Philanthropist
Date of Birth: April 14, 1955
Residence: Sanepa, Lalitpur, Nepal
Education: Not Known (Dropped)
Marital status: Married (Sarika Chaudhary)
Children: 3 (Nirvana, Rahul, and Barun)
Earnings: $1.38 billion