Binod Chaudhary

Binod Chaudhary
Born (1955-04-14) April 14, 1955[1]
Kathmandu, Nepal
Residence Sanepa, Lalitpur Nepal
Nationality Nepalese
Occupation President Chaudhary group, Member of Legislature Parliament of Nepal
Known for Chaudhary Group
Label(s) Binod Chaudhary
Net worth Increase US$ 1.5 billion (2018)[2]
Political party Nepali Congress
Spouse(s) Sarika Chaudhary
Children Nivana Chaudhary
Rahul Chaudhary
Varun Chaudhary
Parent(s) Lunkaran Das Chaudhary
Ganga Devi Chaudhary

Binod Chaudhary (Nepali: विनोद चौधरी; born 14 April 1955) is a Nepalese businessman, industrialist, philanthropist, and politician serving in the Nepali Congress. He is the current chairman of Chaudhary Group (CG), a conglomerate that consists of nearly 80 companies. Chaudhary is also the first Nepali billionaire, as listed by Forbes.[3][4][5]

Besides business, Chaudhary has been involved in several other government and social sectors. He worked as a member of the constituent assembly and parliament of Nepal from April 2008 to May 2012.[1] His CG Foundation works for the social welfare and he often contributes in the areas of art, music and literature as well.

Early life and education

Chaudhary was born in Kathmandu, Nepal as the son of Lunkaran Das and Ganga Devi Chaudhary. He was raised in Kathmandu with his elder sister, Kusum Kumari Agrawal, and two brothers Arun and Basant Chaudhary.

His grandfather was a textile trader and owned a small textile store. His father transformed the store to Arun Emporium which is considered to be Nepal’s first department store.[6][7] Chaudhary converted the store to a conglomerate which is one of the biggest corporate houses in Nepal. He left his studies and started business at the age of 18 when his father got heart illness.[2]

Chaudhary is married to Sarika and they have three children ( Niravana Chaudhary,[8] Rahul Chaudhary,[9][10] Varun Chaudhary[11][12]) .

Business and Industry

Inspired from his industrious father, Chaudhary always envisioned to become a very big industrialist of Nepal. With more than four decades of continuous hard work, he is living his dreams as he developed the Chaudhary Group to the biggest conglomerate of Nepal which is worth a billion dollars and more. Forbes magazine has listed him as a billionaire in 2014 and he is the 1,460th richest person in the world. Now(2018), he is the 1561st richest person in the world.[5][7]

Today CG stands as a transnational conglomerate which consists of nearly 80 companies spanning five continents. It has more than 60 brands in 30 countries with more than 6000 employees.[5] Of its food brands, ‘Wai Wai’ noodles has been the most successful business. The brand produces more than a billion packets of noodles annually and is traded over 35 countries worldwide. The Group’s other notable areas of interests are finance, banking, cement, real estate, hotels, electronics and home appliances, education, energy, biotech, power, retail.

Chaudhary has publicly stated that much of his success doing business in Nepal has come from his ability to make connections with the right people. He has had close connections with the Nepalese royalty, and credits his decision to give half ownership of a steelmaking company to the then-king's brother in 1982 as "the main reason for my success."[4]

Philanthropy

Shashwat Dham in Nawalparasi Nepal built by Binod Chaudhary

Chaudhary has founded the Chaudhary Foundation which makes significant contributions on the fields of education, health, sports and youth empowerment.[13]

Gyan Udaya Scholarship, which provides scholarships for needy students (more than 350 students have received this scholarship to date) and Samata Siksha Niketan, which provided a fund of Rs. 3.5 million for infrastructure are some of the major initiatives taken by CG foundation in education field. Similarly, CG Operation Dristi provides eye care services and CG Medicare provides health services to locals.[13]

Moreover, Chaudhary has taken several new initiatives like Gen Nep and Social Building Fund to improve the financial condition of many Nepali through numerous social business activities.[13]

Autobiography

Chaudhary has authored his autobiography in a Nepali language book titled 'विनोद चौधरी आत्मकथा' which has also been translated into English by journalist Sanjeev Ghimire.[14] Both versions have been published by Nepa Laya Publication.

Award

Honorary Doctorate Degree from Sri Sri University, India

References

  1. 1 2 Chaudhary, Binod. "Biography". Binod Chaudhary. Binod Chaudhary. Retrieved April 17, 2013.
  2. 1 2 "Binod Chaudhary & family". Forbes. Forbes. Retrieved April 17, 2013.
  3. ↑ "Top Richest Person in Nepal".
  4. 1 2 "Peak tycoon". The Economist. ISSN 0013-0613. Retrieved 2016-05-20.
  5. 1 2 3 "Binod Chaudhary Is Nepal's First Billionaire". Forbes. March 5, 2013. Retrieved April 18, 2013.
  6. ↑ "History". Chaudhary Group. CG Touching Life Everyday. Retrieved April 17, 2013.
  7. 1 2 Sharma, Rupak (March 5, 2013). "Binod Chaudhary family is world's 1,342nd richest". MyRepublica. Retrieved 16 April 2013.
  8. ↑ "First Nepal, now the world: Nirvana Chaudhary". The CEO Magazine. 2017-07-26. Retrieved 2018-03-13.
  9. ↑ "Jaipur wedding for Nepal's only billionaire heir Rahul Chaudhary". The Economic Times. 2015-02-20. Retrieved 2018-03-13.
  10. ↑ "Royal Wedding: Mumbai girl marries son of Nepal-based businessman, in Jaipur". dailybhaskar. 2015-02-06. Retrieved 2018-03-13.
  11. ↑ "It's a big, fat, Indian wedding for Nepalese billionaire Binod Chaudhary's son". The Economic Times. 2017-04-19. Retrieved 2018-03-13.
  12. ↑ "Billionaire Chaudhary's youngest son ties the knot amidst big, fat function in Rajasthan". My Republica. Retrieved 2018-03-13.
  13. 1 2 3 Chaudhary, Binod. "Binod Chaudhary". Philanthropist. Binod Chaudhary. Retrieved April 16, 2013. ...
  14. ↑ "Binod Chaudhary: My Story". Retrieved November 23, 2017.
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