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.
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