1st add

Monday, March 4, 2013

Binod Chaudhary – First Billionaire from Nepal

In the new Updates of FORBS Magazine, Nepali top Business Man Binod Chaudhary included as first Billionaire from Nepal.

Binod Chaudhary owns more than 15 companies,  Popular Brand like Wai Wai, Nabil Bank etc Wai Wai is Popular not only in Nepal but it has huge market in different Parts of World.

According to Forbs Magazine Binod Chaudhary and Family owns more than 1 billion Dollars in total  (88 Arba Rs in Nepali). Binod and his Family is in 1426 position among the Top Richest Person From World. Telecom Giant from Mexico Carlos Slim Helu in in Frist Position of Richest Person in World who has 73 Billion Dollars and Bill Gates is in second in the list with 67 Billion Dollars.

From Forbs Magazine
Binod's grandfather Bhuramal Chaudhary, a textile trader born into Rajasthan's Marwari community in 1870, seized on doing business in the Himalayan kingdom after moving there as a boy. Opening his first textile store on Kathmandu's New Road, he supplied his wares to the royal family. His only son, Lunkaran Das Chaudhary--Binod's father, who retains the title of chairman and is still semiactive at 86--converted the modest outlet into Arun Emporium, Nepal's first department store, named after his youngest son (Binod's brother, now 45). Alongside, he expanded into manufacturing textiles, hosiery, utensils and biscuits.

The opportunistic philosophy has carried through into a fourth generation that now includes Binod's three sons, at work in the group. "If nobody has done it before, it doesn't mean that it can't be done!" their father grins, tucking into a lunch bowl of Wai Wai noodles.

Chaudhary Group is only part of the family empire. It's an open secret that it has a stake in Nabil Bank, a domestic private. This is held indirectly through NB (International), an offshore entity in Ireland. The 50% stake was acquired from Emirates Bank, which sold it first to the National Bank of Bangladesh, which in turn did a deal with the Irish firm. Earlier, a court had stalled a direct Chaudhary purchase. The Nabil holding forms part of Cinnovation Group, Chaudhary's overseas arm, headquartered in Singapore. Together the two business entities probably constitute a valuation exceeding $500 million, making the family among Nepal's richest nonroyals.

No comments:

Post a Comment