Binod Kumar Chaudhary's Net Worth as of February 2023 is $1 Billion
Quick Facts of Binod Kumar Chaudhary
|Net Worth||$1 Billion|
|Date of Birth||14 April, 1955|
Binod Chaudhary is a Nepalese billionaire businessman, politician, and philanthropist born on the 14th of April, 1955. Binod Chaudhary was born in Kathmandu, Nepal.
Binod Chaudhary is the chairman and president of the Chaudhary Group (CG). He was named Nepal’s wealthiest individual and sole billionaire in February 2013, with an estimated net worth of $1 billion.
Binod Chaudhary’s Bio, Age, Family
Binod Kumar Chaudhary was born on the 14th of April in 1955. Chaudhary was born into a Marwari family in Kathmandu, Nepal. When it comes to his family background, Chaudhary was born as the son of his father, Lunkaran Das, and his mother, Ganga Devi Chaudhary.
He was raised along with his two siblings, Arun and Basant Chaudhary. Bhuramal Das Chaudhary, his grandfather, was an entrepreneur who began a textile business. Likewise, his father was also a businessman who helped his grandfather expand his company.
Binod Chaudhary is 67 years old as of April 2022. Chaudhary holds Nepalese nationality and belongs to the Marwari clan. Chaudhary celebrates his birthday on the 14th of April, and his birth sign is Aries.
Binod Chaudhary’s Education, Career
Binod completed his primary schooling education at a government school at Gana Bahal, Kathmandu. Unfortunately, he could not continue his further studies because of his family circumstances and responsibilities. When it comes to his business career, Binod Chaudhary began running a nightclub in Kathmandu at age nineteen.
Bhuramal Das Chaudhary, his grandpa, immigrated to Nepal from Rajasthan, India, in the 19th century. He started a textile business after arriving at the age of 20. He became the first in Nepal to create a fully recognized garment company a few years later, following the 1934 Nepal–Bihar earthquake. Lunkaran Das Chaudhary, his father, proceeded to grow the textile business while simultaneously establishing foreign trading houses and a construction firm.
Lunkaran Das Chaudhary created Arun Emporium, a retail store, in 1968, and it was his most successful business venture. Binod Chaudhary was about to embark on a journey to India to study chartered accountancy when his father was diagnosed with heart illness and told the doctor that he could no longer handle the family business. As the eldest son, Binod stepped on to handle the business.
Lunkaran Das Chaudhary, Chaudhary’s grandfather, formed the Chaudhary Group, a business conglomerate. Wai Wai, an instant noodle brand launched in Nepal in 1984, quickly became the company’s best-selling product. “Running that disco taught me a lot about business,” Chaudhary writes, “but it was only when I took over the family business of running Arun Emporium, turning its fortune, and looking after family, that I learned the business.”
Chaudhary got the idea to sell Wai Wai noodles after witnessing many Thai people carrying packages of noodles. Currently, Wai Wai has overseas factories in India, Serbia, and Bangladesh, with a new one being constructed in Egypt. It plans to launch a range of sauces.
His first independent business was in 1973—a discothèque company called Copper Floor. The company was a massive success because of the many wealthy and influential people who visited the club. In 1979, Chaudhary made a deal with Japanese electronic firm National Panasonic, his first multinational deal.
Chaudhary purchased the Nabil Bank’s controlling interest from the Dubai government in 1995. In 1990, he founded Cinnovation Group in Singapore. Cinnovation Group is one of Nepal’s first large-scale global corporations. Hotels and resorts, wildlife and in-bound tourism, FMCG (food and beverage), real estate, cement, and financial services are among the company’s interests. Chaudhary has also begun to express an interest in forming a joint venture with the Taj Hotels Group.
Binod Chaudhary’s Political Life, Book
He gained associated with legislative parties such as the Communist Party of Nepal-Unified Marxist Leftist during the first People’s Movement in 1990. (CPN-UML). In 1994, he contributed to the design of their economic policy. As a result, he was elected to the Constituent Assembly by the party in 2008. He also stated, “Economic growth should be the driving force behind Nepal’s politics, in my opinion. I’d want to see someone who does not put the country’s interests ahead of personal or political objectives.”
“Binod Chaudhary: Atmakatha,” Chaudhary’s autobiography was published in 2013. The book was eventually translated into English by journalist Sanjeev Ghimire and published in 2015 under the title “Binod Chaudhary – My Life: From the Streets of Kathmandu to a Billion-Dollar Empire,” or “Making It Big: The Inspiring Story of Nepal’s First Billionaire in His Own Words.”
In India, the novel was released with the title Ek Unchi Udaan. “When I chose to write this book, I also decided that I would not manipulate it,” Chaudhary told Forbes India. Everyone should read the book, according to the reviewers.
Binod Chaudhary’s Relationship Status
Binod Chaudhary is a married man. He tied his marital knot with his beautiful wife Sarika Chaudhary and has three children. His sons Nirvana in Nepal and Rahul and Varun, who live overseas, help him run the group. Nirvana and Rahul are managing directors of the group.
Binod Chaudhary’s Net Worth
He was named Nepal’s wealthiest person in February 2013, with an estimated net worth of $1 billion. His net worth has increased to $1.7 billion since 2013. Chaudhary was named Nepal’s first billionaire by Forbes in 2013. He is ranked #1349 on Forbes’ Billionaires of 2019 list as of March 2019.
After the announcement, he said, “I am humbled. As a businessman, you don’t get a Nobel. This is my Nobel Prize, … I see this as a recognition for the 40 years of my hard work”. He was featured on the cover of Forbes Asia in 2015. He has done charity work, book-writing, and filmmaking in addition to his business, which focuses on distribution, retail, leisure, and manufacturing.