Nepal’s richest man in Forbes’ billionaire list; Binod Chaudhary possesses Rs 88 billion

KATHMANDU: Nepal’s one of the most successful entrepreneurs Binod Chaudhary has made in Forbes Magazine as the single billionaire  in Nepal. Nepal’s richest businessman Chaudhary, 57, owns 1 billion US dollars.

“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,” said the magazine.

Binod Chaudhary is Nepal’s first billionaire but built most of his fortune overseas, the Forbes said in its portal.

“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,”  the Forbes further states.

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.