Binod Chaudhary

Binod Chaudhary
Born	(1955-04-14) April 14, 1955 Kathmandu, Nepal
Occupation(s)	Entrepreneur, politician, philanthropist
Years active	1973–present
Known for	Chairman and president of Chaudhary Group; Nepal's first billionaire

Binod Chaudhary (; born 14 April 1955) is a Nepalese billionaire entrepreneur, politician, and philanthropist. He serves as the chairman and president of the Chaudhary Group (CG).

As of February 2013, he was acknowledged as Nepal’s richest individual and its sole billionaire, with an estimated fortune of $1 billion. Since that time, his wealth has grown to approximately $1.7 billion. His diverse business portfolio includes sectors such as distribution, retail, leisure, and manufacturing. In addition to his commercial ventures, he actively participates in philanthropy, writing, and film production.

Early life

Born in Kathmandu, Nepal, Binod Kumar Chaudhary hails from a Marwari heritage. His entrepreneurial lineage traces back to his grandfather, Bhuramal Das Chaudhary, who initiated a textile enterprise later expanded by Binod’s father. Rather than immediately joining the family business, Chaudhary opted to pursue further education early in his career. He acknowledges both his grandfather and father as significant sources of inspiration. Among his admired figures are Bollywood stars Amitabh Bachchan and Ranbir Kapoor, along with leaders such as Nelson Mandela for his statesmanship and J. R. D. Tata for establishing a reputable corporation.

Early career

Chaudhary’s grandfather emigrated from Rajasthan, India, during the 19th century and founded Nepal’s first officially registered clothing company following the 1934 earthquake. His father, Lunkaran Das Chaudhary, expanded this textile business and launched Arun Emporium, a retail store, in 1968. At the age of eighteen, Binod intended to study chartered accountancy in India but assumed control of the family enterprise after his father became ill.

Initially contemplating importing Japanese Suzuki automobiles, Chaudhary obtained a trial dealership despite doubts about his youth and background in textiles. His first solo business initiative was Copper Floor, a nightclub opened in 1973 that attracted affluent patrons. In 1979, he secured his inaugural multinational partnership with the Japanese electronics company National Panasonic.

Chaudhary Group

The Chaudhary Group traces its origins to Lunkaran Das Chaudhary, grandfather of Binod Chaudhary. Its signature product, Wai Wai instant noodles, was launched in Nepal in 1984 and quickly gained widespread popularity. At the age of 23, Binod Chaudhary assumed control of the family enterprise, revitalizing its prospects and broadening its market presence. Motivated by the success of Thai noodles, he partnered with Thai Preserved Food Factory Co. Ltd., overcoming initial doubts regarding the viability of Nepal’s market. This alliance facilitated the production and expansion of Wai Wai.

Chaudhary shared with Forbes India:

While flying to Bangkok, I observed numerous shipments of noodles and realized their immense popularity. Wai Wai now commands a 20% share in India’s market, and we are launching an extensive nationwide campaign complemented by region-specific marketing strategies.

He attributes much of his group’s elevated status to the collaboration with the Thai firm.

In 2013, Chaudhary became Nepal’s first billionaire as reported by Forbes, ranking 1,349th on the 2019 list of billionaires. He described this achievement as a testament to four decades of dedication. Featured on the cover of Forbes Asia in 2015, his wealth grew by $200 million by 2018. The Chaudhary Group currently employs approximately 7,000 individuals across 19 countries.

In November 2019, authorities in Daman, India seized coastal land and demolished homes belonging to indigenous fishing communities during the 2019_Daman_Indigenous_Land_Clearing_Protests. Although some displaced residents were relocated, many remained without shelter near the affected area.

By March 2021, the location had been developed into CG Corp Global’s The Fern Seaside Luxurious Tent Resort, providing tourist accommodations at an approximate rate of $80 USD per night.

Other businesses

In 1995, Chaudhary purchased the Dubai government’s controlling interest in Nabil Bank. He established Cinnovation Group in Singapore in 1990, marking one of the earliest multinational enterprises originating from Nepal. The group’s operations span hotels and resorts, wildlife tourism and inbound travel services, FMCG (food and beverage), real estate development, cement manufacturing, and financial services. Additionally, Chaudhary has engaged in joint ventures with Taj Hotels Group and is committed to promoting Nepal as a secure destination for investment. He has highlighted the importance of an investor-friendly government that fosters wealth creation and entrepreneurship to enhance investor trust.

Early politics

Chaudhary’s initial multinational partnership in 1979 required obtaining a license under Prime Minister Surya Bahadur Thapa. When approached for financial assistance to support Thapa’s campaign during the Panchayat era, both Chaudhary and his father consented. Following Thapa’s ousting, Chaudhary collaborated with Dhirendra Shah, who initially offered business protection but later presented difficulties.

During the 1990 People's Movement I, Chaudhary aligned himself with parliamentary parties including the Communist Party of Nepal (Unified Marxist–Leninist) (CPN-UML). He contributed to drafting their economic policy in 1994, which led to his appointment to the Constituent Assembly by the party in 2008. He advocates for politics centered on economic development rather than personal or partisan interests.

Nepali Congress

In 2017, Chaudhary became a member of the Nepali Congress, under the leadership of Sher Bahadur Deuba. The party recognized his valuable contributions to the nation.

CPN-UML

Chaudhary represented the Communist Party of Nepal-Unified Marxist Leninist (CPN-UML) as a parliamentarian. Owing to his prominence both domestically and internationally, he was invited to assist in drafting Nepal's Constitution. He also held a legislative role within UML until the conclusion of the program.

Author

Chaudhary authored his autobiography in 2013, titled Binod Chaudhary: Atmakatha, which was subsequently translated into English as Binod Chaudhary – My Life: From the Streets of Kathmandu to a Billion Dollar Empire in 2015. The book, also published in India under the name Ek Unchi Udaan, provides a candid narrative of his ascent as Nepal’s inaugural billionaire. Chaudhary prioritized sincerity throughout its development.

The autobiography has been acclaimed as a must-read for entrepreneurs and business leaders, detailing the path of a self-made billionaire navigating unpredictable market conditions. The Kathmandu Post noted Chaudhary’s innovative methods within his Marwari community, such as establishing Kathmandu’s first discotheque in the 1970s. Reviews from outlets like HuffPost and various business analysts have praised the book for its actionable advice and motivational impact on aspiring multinational business figures from Nepal.

Charity works

Following the April 2015 Nepal earthquake, he spearheaded relief operations in Kathmandu, deploying medical personnel across 12 districts. He contributed over $2.5 million toward rebuilding schools and residences, while the Chaudhary Group supplied 500,000 packets of Wai Wai noodles, juice boxes, and other essential items to those affected.

Chaudhary Foundation

Founded in 1995, the Chaudhary Foundation collaborates with the United Nations Development Programme to promote Sustainable Development Goals (SDGs) within Nepal. After the earthquake, the foundation played a critical role in reconstruction by providing 166 shelters to displaced families in Dhading District. It works alongside the National Reconstruction Authority to ensure rebuilding initiatives support Nepal’s broader economic growth objectives.

Awards

In recognition of his philanthropic efforts, he was awarded an honorary doctorate by Sri Sri University in 2015. The following year, he received the Asian Man of the Year title along with the Frost & Sullivan Growth, Innovation and Leadership (GIL) Award. In 2019, Hotelivate bestowed upon him a Lifetime Achievement Award.

Personal life

He is married and has three children.

Controversy

Binod Chaudhary has been subject to accusations including tax evasion, financial misconduct, and monopolistic behavior. He has maintained influential connections with political entities ranging from Nepal’s monarchy under Prince Dhirendra to major political parties such as CPN-UML and Nepali Congress after the establishment of the republic.

One significant dispute centers on allegations regarding privatization of land belonging to the government-operated Bansbari Shoe Factory. Reports claim that during privatization, Chaudhary’s company acquired public shares and subsequently took control over this land. Moreover, Apollo Steel Industries, a subsidiary of Chaudhary Group, faces accusations of land appropriation in Satungal, Kathmandu; this includes blocking a public road since 1987 that now serves as access to CG Electronics’ facilities.

His investment in Hotel Summit attracted criticism due to claims it bypassed necessary local permits and Environmental Impact Assessments (EIA), raising questions about procedural violations and disregard for neighboring property owners.

Chaudhary appeared in the 2021 Pandora Papers revelations. Although his son maintains their activities were lawful, investigations suggest possible exploitation of legal loopholes to evade Nepalese regulations on foreign asset ownership and capital controls during international expansion efforts. These strategies are also acknowledged by Chaudhary himself in his autobiography.

External links

• Official website of Binod Chaudhary
• Forbes profile of Binod Chaudhary