CG chief up 10 spots on Forbes list

Published On: March 22, 2017 10:09 AM NPT By: Republica  | @RepublicaNepal

KATHMANDU, March 22: Adding more wealth since last year Binod Chaudhary climbed 10 places to 1,567th position in the list of billionaires of the world in the year 2017, according to the Forbes magazine.

The chairman of Chaudhary Group (CG), was in 1,577th position among the billionaires of the world in the year 2016 but he has climbed to 1,567th position in list published on Tuesday by the Forbes for 2017.

According to Forbes, adding some $0.20 billion in a year, Chaudhary owns properties worth $1.31 billion in 2017 compared to $1.1 billion in 2016. 

Chaudhary, who is also the sole Nepali billionaire listed in the Forbes magazine, has wider portfolio including food, electronics, beers and hotels, the magazine writes. “The producer of the popular Wai Wai noodles -- CG Foods -- also has overseas operations including in India, Serbia, Saudi Arabia and Bangladesh. It is going to be extended to the American markets too.”

Likewise Chaudhary has this past year added CG’s hotel assets that consist of 29 owned and 70 managed properties, including a string of luxury hotels with India’s Taj Hotel Chain, according to Forbes.

He also has a major stake in Nabil Bank.

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