Nepal’s first billionaire on Forbes cover

Binod Chaudhary
Binod Chaudhary

KATHMANDU: Binod Chaudhary, a Nepali businessman of Indian-origin, has found place on the cover of Forbes Asia’s September issue for his efforts to rebuild the quake-hit nation.

Forbes magazine had listed him as the first billionaire of the country in 2013.

60-year-old Chaudhary, president of Chaudhary Group is working on a project that would construct 10,000 earthquake proof houses for the quake victims in the country, after buildings were damaged in the devastating earthquake that rocked the country on April 25 and killed nearly 9,000 people.

Chaudhary, a former MP has pledged USD 2.5 million through his Chaudhary Foundation to restore schools and homes destroyed or damaged by the quake, according to the Forbes. He handed over 76 shelters to the affected people in Dolalghat area of Kavre district, 80 km east of Kathmandu at a function.

So far, he has handed over 500 such shelters to the earthquake victims of Nepal.
He hopes to complete some 3,000 houses and hand over to the people in the 14 earthquake affected districts of Nepal by October 2015.

Chaudhary Group is the largest business chain of Nepal, which produces popular Wai Wai Noodles, which is popular in India.

“If we put all our energy together we are able to carry out such a gigantic task,” Chaudhary, the current president of the Confederation of Nepalese Industries (CNI) told reporters.
Chaudhary hails from a business clan with Indian roots.

His grandfather, a textile trader from Rajasthan, migrated to Nepal in the 19th century. He has been listed as the 1,460th richest persons in the world in 2014 by the Forbes. -PTI

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