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23/9/2017
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Binod Chaudhary makes it to Forbes list of billionaires
2013-03-05
1362461493binod-chaudhary-400.jpg

Industrialist Binod Chaudhary has made it to the 2013 Forbes billionaires list, becoming the first Nepali to be listed by the American magazine, with his net worth said to be $1 billion (Rs 87.5 billion approximately).

Binod Chaudhary is Nepal’s first billionaire but built most of his fortune overseas, said Forbes on its website, which has listed him as 1,342nd richest person in the world. Chaudhary, 57, has been featured as 20th among 21 Forbes’ ‘2013 Billionaires: Notable Newcomers’.

“It is an honour; I am happy to have our four decades of hard work recognised,” Chaudhary told THT. “It has introduced the Nepali corporate sector to the world and will help encourage young entrepreneurs to explore new horizons.”

His Chaudhary Group owns, among much else, popular Wai Wai instant noodles, a controlling stake in Nepal’s Nabil Bank and a string of luxury hotels with India’s Taj hotel chain. The Chaudhary Group’s interests today include banking, foods, cement, real estate, hotels, power and electronics, according to the Forbes website.

The Chaudhary Group’s Singapore arm Cinnovation and other overseas interests are managed by sons Rahul Chaudhary and Varun Chaudhary, both non-residents. His eldest son Nirvana Chaudhary manages domestic businesses.

source: The Himalayan Times, 4 March 2013

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