Meet Binod Chaudhary, 'Nepal¡¯s First & Only Billionaire To Feature On Forbes Rich List

Every year, Forbes releases its much-awaited list of the world¡¯s richest people wherein it's often billionaires from the USA, China, India, the UK etc. who we hear of.

But a ¡®not so known¡¯ billionaire who many of you might not have heard of, is Nepal¡¯s first and only billionaire to have featured on the Forbes list. Nepal¡¯s Binod Chaudhary first got featured on the Forbes list about a decade ago in 2013, on the 1342 rank.

And currently, the businessman has slipped to the 1929th rank, but still does feature as a billionaire on the list, with $1.5 billion net worth.

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And two years later in 2015, Binod Chaudhary added another feather to his cap as he featured on the cover of Forbes Asia's September issue for his efforts to rebuild the quake-hit nation by working on a project that would construct 10,000 earthquake-proof houses for the quake victims in the country. Moreover, he had also pledged $2.5 million through his Chaudhary Foundation to restore schools and homes destroyed or damaged by the quake, according to Forbes.

At present, 67-year-old Binod Chaudhary controls CG Corp Global and is Nepal's sole billionaire, as per Forbes. His biggest assets are a controlling stake in Nepal's Nabil Bank and CG Foods, maker of the popular Wai Wai noodles. Wai Wai has overseas factories in India, Serbia and Bangladesh with a new one being constructed in Egypt, it reportedly plans to launch a range of sauces. Whereas CG's hotel assets reportedly consist of 135 owned and managed properties, including a string of luxury hotels with India's Taj hotel chain.

As far as his early life is concerned, Binod Kumar Chaudhary was born in Kathmandu, Nepal, to a Marwari family. His grandfather, Bhuramal Das Chaudhary, was an entrepreneur who started a textile business and migrated to Nepal from Rajasthan, India, in the 19th century.

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Building Dubai¡¯s Taj Jumeirah Lakes Towers

Binod Chaudhary¡¯s Nepal-based CG Hospitality had signed a pact with Tata Group's Indian Hotels Company Ltd (IHCL) in 2019, under which its five-star hotel property Taj Jumeirah Lakes Towers in Dubai would be managed by the Indian firm.

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happy to announce the opening of our newest Taj JLT dubai! Congratulations to our cg hotels team and particularly to my son Rahul. The man who Did it all.... pic.twitter.com/hPIDYST2df

¡ª Binod Chaudhary (@BinodKChaudhary) November 27, 2019

As per Tajhotel's website, Taj Jumeirah Lakes Towers was named ¡®Favourite New Hotel¡¯ in the Middle East and North Africa region at the annual Cond¨¦ Nast Traveller Middle East Readers¡¯ Choice Awards 2020.

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