According to the Forbes Billionaire List 2024, the number of billionaires and their wealth has seen a significant rise worldwide in recent years. While the United States continues to lead the list with 813 individuals, India ranks third after China, with 200 billionaires. However, an interesting fact is that India’s neighbor Nepal has also made it to the list with its sole billionaire, Binod Chaudhary.
According to Forbes, his net worth is estimated to be more than Rs 15,000 crore (1.8 billion dollars) and his contribution and achievements in Nepal’s economy have been immense. But do you know what Binod Chaudhary does and how he amassed such wealth? The answer is Wai Wai Noodles, the famous instant noodles brand which now competes with Maggi.
People often assume that Wai Wai Noodles is a Chinese brand, but it actually comes from Nepal and was founded by Binod Chaudhary.
Who is Binod Chaudhary?
Binod Chaudhary was born into a business family in Kathmandu, which gave him an early inclination towards entrepreneurship. Although he always wanted to study chartered accountancy in India, his father’s declining health and family responsibilities led him into the business world. And with time, he took his family business to new heights.
As per the available information, the idea for Wai Wai Noodles came during a trip to Thailand, where he observed the popularity of instant noodles. This inspired him to introduce Wai Wai Noodles in Nepal. The brand quickly gained popularity, not only in Nepal but also in India and other countries. Its unique taste, variety, and convenience made it popular in India despite the dominance of Maggi.
Other Businesses
While Wai Wai Noodles is Chaudhary’s most well-known venture, he has diversified into various other businesses. He partnered with National Panasonic and attempted to bring Suzuki cars into the Nepal market. In 1990, he established the Sinovation Group in Singapore. In 1995, he acquired a controlling stake in Nabil Bank from the Dubai government, further solidifying his financial standing.
Philanthropy and Social Work
Binod Chaudhary is not only a successful businessman but also a philanthropist. During the devastating earthquake in Nepal in 2015, he donated over Rs 20 crore to help those affected. He played a key role in rebuilding homes and schools in earthquake-stricken areas and provided essential supplies such as food and juice boxes.
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