At 69 years old, Chaudhary, chairman of Chaudhary Group, oversees an empire of 136 companies, ranging from Wai Wai noodles to Taj Hotels, spanning industries such as banking, hotels, consumer goods, energy, education, and health, according to India news outlet News18.
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Binod Chaudhary, gestures as he speaks during an interview at his office at Chaudhary Group in Kathmandu, October 4, 2013. Photo by Reuters |
His net worth has reached a historic peak of $2 billion this year, starting from $1.1 billion in 2016.
Born into a Marwari family in Nepal’s capital Kathmandu with roots tracing back to India, Chaudhary’s grandfather migrated to Nepal and laid the foundation of the family business legacy.
His father further advanced this legacy by opening Nepal’s first departmental store. Though expected to continue the family business, Chaudhary initially aimed to become a chartered accountant and began his studies in India.
However, he returned to Nepal at 18 due to his father’s illness, putting aside academics to enter the business arena. Chaudhary began his entrepreneurial career by opening Nepal’s most famous disco in Kathmandu in 1973, which became a hotspot for the youth.
In 1984, he launched ‘Wai Wai’ noodles, which have become a staple across kitchens in Nepal and India, especially popular among children and adults in North and Northeast India.
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Binod Chaudhary poses for a picture in front of a portrait of him when he was young at his office at Chaudhary Group in Kathmandu, October 4, 2013. Photo by Reuters |
His sharp business insight led to partnerships with global brands like Suzuki and Panasonic, expanding his ventures further.
In 1995, Chaudhary acquired controlling interest in Nabil Bank from the Dubai government, turning it into Nepal’s leading bank.
His most notable success is in hospitality; Chaudhary Group owns and manages 143 hotels, including several luxury 5-star properties in partnership with India’s prestigious Taj Hotels, spread across Nepal, India, and Sri Lanka.
The influence of Chaudhary Group extends far beyond noodles and hotels: it spans banking, real estate, telecommunications, energy, education, and healthcare, with projects ranging from power initiatives in Nepal to electronics production in India.
It claims to be the largest business enterprise of Nepal on its website, with 20,000 employees on its rolls, spanning in businesses in more than 32 countries worldwide.
In an interview with Khaleej Times, Chaudhary highlights the contribution of his employees to the group’s success. “My employees and colleagues have been my strength, they have stood by me through thick and thin amid these unprecedented hard times,” he said.
He also values ambition and a desire for more. “You have to sacrifice something to gain something else, my father told me. That is one piece of fatherly advice I could never accept. I want everything from life, not one thing at the cost of another,” says a quote from his autobiography.
Chaudhary is known as an avid Bollywood fan and draws inspiration from notable figures like JRD Tata, who transformed Indian business, and Nelson Mandela, who symbolized powerful change.
Besides his business endeavors, Chaudhary serves as a Member of Parliament in Nepal. He has now entrusted the leadership of the Chaudhary Group to his three sons – Nirvan, Rahul, and Varun – who are poised to expand the legacy, assuring the continued success of flagship brands like ‘Wai Wai’ and Taj Hotels.
