Forbes lists Binod Chaudhary as Nepal’s first billionaire
An international magazine which ranks the world’s richest people has declared businessman Binod Chaudhary the richest man in Nepal.
Forbes magazine said that Chaudhary, whose net worth is $ 1 billiion,is Nepal’s first billionaire.
According to Forbes:
At a Glance
Name : Binod Chaudhary
Source of Wealth: Diversified
Country of Citizenship: Nepal
Marital Status: Married
Net worth: $1 billion as of March 2013
Chaudhary Ranks#1342 in Forbes Billionaires List#1 in Nepal
Hailing from a business clan with Indian roots, Binod Chaudhary is Nepal’s first billionaire. From supplying goods to the erstwhile royal family and opening the country’s first department store, the Chaudhary Group’s interests today include banking, foods, cement, real estate, hotels, power and electronics.
Binod Chaudhary is Nepal’s first billionaire but built most of his fortune overseas. His Cinnovation/Chaudhary Group, owns among much else, popular instant noodle brand Wai Wai, a controlling stake in Nepal’s Nabil Bank and a string of luxury hotels with India’s Taj hotel chain. His grandfather, a textile trader, migrated from Rajasthan and started supplying goods to the erstwhile rulers. His father opened country’s first department store. Binod skipped college to join the family trade at age 18. Singapore arm Cinnovation and other overseas interests are managed by sons Rahul and Varun, both non-residents. Eldest son Nirvana, overseas domestic businesses. A fitness fanatic, Chaudhary goes trekking in the Himalayas every year.