Who is the first billionaire of Nepal? :- There are thousands of billionaire people in the world. Most of the billionaire are from United States of America. Now there are very few people from Nepal who are enlisted as a billionaire people in the world. Do you know who is the first billionaire of Nepal?
Who Is The First Billionaire of Nepal?
The first billionaire of Nepal is Binod Chaudhary. The small Himalayan nation of Nepal has produced its first billionaire as Binod Chaudhary, president of the Chaudhary group, a conglomerate of almost 80 companies with banking interests, food, cement , real estate, hotels, energy, retail, electronics. But Chaudhary, 57, faced restrictions at home, built much of his estimated fortune at $ 1 billion overseas through his arm based in Singapore.
The group has expanded to neighbouring India with its famous brand of instant noodles Wai Wai and has partnered with the Taj Hotels group in India with which it owns hotels in Sri Lanka, Maldives, Thailand and India.
It also has a stake in Alila, a chain of Asian luxury boutiques and is also creating its own hotels under the Zinco brand. Chaudhary comes from a business clan with Indian roots.
See Also: List of 10 Richest Person in Nepal
His grandfather Bhuramal Chaudhary, a textile merchant from Rajasthan, emigrated to Nepal in the 19th century. He opened a small textile store that once supplied the sovereigns. Chaudhary’s father, Lunkaran Das, made him Arun Emporium, the first department store in Nepal.
Chaudhary, the eldest of 3 siblings, joined the company at age 18, giving up his plan to study accounting in India when his father developed a heart disorder. The group had 400 people compared to the current 7,500.
A family division gave Chaudhary the freedom to pursue his ambitions. In search of expansion, he created Cinnovation through which he acquired activities abroad.
Although the scandals chased Chaudhary while flourishing, he was also able to obtain a majority stake in the Nabil Bank of Nepal. The eldest son, Nirvana, takes care of domestic interests.
What is Chaudhary Group (CG)
Chaudhary Group is a corporate group founded by Chaudhary’s grandfather, Lunkaran Das Chaudhary. Wai Wai, a brand of instant noodles, became the company’s best seller, which was introduced in Nepal in 1984.
Chaudhary took over the family business at the age of 23 and wrote: “direct that disco taught me a lot about business, but only when I took over the family business of running the Arun Emporium, making a fortune and taking care of the family, did I understand the business “.
The idea of selling Wai Wai noodles occurred to Chaudhary after seeing many people in Thailand with noodle packages. Shortly thereafter, he realized that there was folly for Thai noodles in Nepal. He went to Thailand, where he visited the Thai Preserved Food Factory Co Ltd, which produced Wai Wai noodles for Thailand.
Chaudhary wants to do a business collaboration between them, however, the owner was not so sure of the idea of bringing noodles to Nepal because of the country’s “poverty and poor infrastructure”.
When did Binod Chaudhary become a billionaire?
In 2013 Chaudhary was listed as the first Nepalese billionaire by Forbes. As of March 2019, it is listed at 1,349 for Forbes billionaires in 2019. After becoming the first billionaire in Nepal, he said: “I’m humiliated.
As a businessman, you don’t get a Nobel, this is my Nobel Prize “and” I see it as a recognition for the 40 years of my hard work. ” In 2015 it appeared on the cover of Forbes. By 2018 his fortune had grown by $ 200 million.
After appearing on the list, he stated that “The Forbes billionaires list is the result of blood and sweat of four generations. ”
Author: Abhishek Raj Jha