Facts of Binod Chaudhary
|Full Name||Binod Chaudhary|
|Birth Name||Binod Chaudhary|
|Father Name||Lunkaran Das Chaudhary|
|Mother Name||Ganga Devi Chaudhary|
|Date of Birth||April 14,1955|
How Much Is The Total Worth Of First Nepali Billionaire Binod Chaudhary?
Binod Chaudhary is a Kathmandu-born billionaire who is a Nepali entrepreneur and philanthropist currently working as the chairman and the president of Chaudhary Group (CG).
The Chaudhary group was founded by Binod’s grandfather in 1968, and as of 2019, they own 136 companies across five continents. Binod was named Nepal’s wealthiest person in 2013 with a net worth of $1 billion and was ranked in 1,342nd position in The World’s Billionaires 2013.
As of 2019, Binod has a net worth of $1.7 billion. Let's discuss more about his business ventures, assets, lifestyle, and house.
Net Worth Details- Career, Income Sources, And Earnings
With a net worth of $1 billion, Chaudhary became the first Nepali billionaire as of March 2013. By the time of 2019, his net worth has almost doubled to $1.7 billion making him 1,349th billionaire as per Forbes. He generates a massive amount of fortune from his versatile business ventures.
Binod’s father, Lunkaran Das Chaudhary started importing electronics goods and garments from South Korea, Japan, India, and Europe. Likewise, he also started Nepal’s first department store titled Arun Emporium in 1968. Lunkaran exported jute to the United States and Europe during the 1960s while Nepal’s international trade was only limited to India.
The group has expanded their business vastly which includes divisions like CG Foods, CG Brewery, CG Beverage, CG Finco, CG Hotels & Resorts, CG Educations, CG Electronics, CG Infra, CG Realty, CG Telecom, CG Tobacco, CG Packaging, and more.
Wai-Wai Food Brand
Wai Wai is a brand of instant noodles produced by the Thai Preserved Food Factory, Co., Ltd in Thailand and in Nepal by the Chaudhary Group. The brand has been manufacturing since 1972 and the managing director has been Pricha Napapruekchat since 1998, the eldest son of the first founder Surin Napapruekchat.
The Chaudhary Group founded the Wai Wai noodle factory in Kathmandu in 1984 in technical collaboration with TPFF. The company’s initial capacity was 120 packets per minute which have grown to 2,100 packets per minute at present. The companies manufacture 40,000 tons of noodles per year as of 2019.
In 2017, TPFF posted revenues of $212,389,770 expecting it to rise to $324,790,000 in 10 years.
The Wai-Wai claims 20% percent market share in the Indian market and is expanding in Bangladesh, Serbia, and Saudi Arabia.
CG Finco, Hotels & Resorts, Education, And Electronics
Similar to Wai-Wai company, the Chaudhary group also has a controlling stake in Nabil Bank i.e. Nepal's largest private-sector commercial bank. The group handles CG financial company, United Remit, United Insurance Company, and United Finance.
Interesting Fact: They own a total of 82 hotels and resorts in different locations.
Their CG Education arm runs schools like Chandbagh Schools, Delhi Public School, Campion Schools and Colleges in Nepal. Whereas, they have stakes in AEC Education & Malvern House in UK, Singapore, Malaysia, London, Europe, Cyprus, Ireland, and Bhutan outside Nepal.
The Group's Electronics arm assembles and distribute consumer electronics like smartphones, washing machines, microwave ovens, TVs, and many more across the country.
They also import and distributes international brands like Intex, Kelvinator, Godrej, TCL, and more. Their best international brand import is LG Corporation of South Korea.
Binod joined the Nepali Congress party in 2017. The party was led by Sher Bahadur Deuba at that time. Chaudhary was welcomed to the party due to his magnificent contribution to the party. He was also listed on the proportional representation list as a candidate.
Binod was approached by Nepa-Laya to publish his autobiography, however, due to his busy schedule, Binod was unable to publish it.
Later in 2013, Chaudhary published his autobiography titled 'Binod Chaudhary: Atmakatha'. He co-wrote the book with Sudeep Shrestha and took nearly five years to finish.
In 2012, the CG warehouse caught fire due to an electric circuit. They were able to save only 5% of the goods from the warehouse. Although the exact loss was yet to be confirmed, General manager Ramesh Shrestha claimed $62 million for insurance.
Endorsements, Sponsorship, And Social Media Profile
It is normal for people with huge business empires to have sponsorship and endorsements deals. The Chaudhary group also has endorsed several groups in exchange for promotions and economy.
The business tycoon is active on social media like Instagram and Facebook where he is followed by thousands of people. As per Influencer, Chaudary can earn around $68.25 to $113.75 per paid post with Instagram.
Charity And Philanthropic Works
Binod runs his own charity foundation titled Chaudhary Foundation. He has signed the foundation with the United Nations Development Programme for the advancement and promotion of Sustainable Development Goals in Nepal.
After the devastating earthquake in 2015, the CG foundation has been helping rebuild Nepal. They have handed over 166 shelters for victims of the earthquake in Kumpur VDC which is located in Dhading.
They also assisted in building 10,000 transitional shelters for earthquake survivors. They also promised to build 100 schools in the damaged area. To date, they have finished building 2500 shelter and 40 school building.
Assets, Lifestyle, House, Cars, Tax, Insurance, And Expenses
With a billion dollars in the pocket, Binod is living a lavish and luxurious life with his family. Although his house details are not out yet, he surely owns a million dollar mansion.
Similarly, he rides around expensive cars. No doubt he owns cars like Mercedes, Ford, and Land Rover.
Moreover, Binod is sure to pay a hefty sum of money as a tax payment from his jaw-dropping fortune.
Binod Chaudhary's Personal Life- Age, Height, Family, Wife, And Children
Binod Chaudhary was born on 14th April 1955 in Kathmandu Nepal to mother Ganga Devi Chaudhary, and father, Lunkaran Das Chaudhary. He holds Nepali nationality and comes from an Asian ethnic group.
His family migrated to Nepal from Rajasthan for business and eventually settled here. Binod dropped out of college at the age of 18 in order to support his family.
He is married to now-wife Sarika Chaudhary. Together they share three sons: Nirvana, Rahul, and Varun.
His eldest son works as the Managing Director in the CG. Whereas, his other two sons take care of their overseas business.
As of 2019, Chaudhary is 65 years old. He is 5 feet 8 inches (172 cm) tall in height.
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