Binod Chaudhary, a Nepali businessman, politician, and philanthropist all rolled into one is the first Nepalese businessman to make the Forbes billionaire list, with a net value of $1.5 billion. Binod Kumar Chaudhary born on 14 April 1955 (age 67) is the chairman as well as president of the famous Nepalese company of instant noddle, Chaudhari Group (CG). He has done charitable work, book writing, and filmmaking in addition to his businesses, which emphasize distribution, retail, leisure, and manufacturing. He is a fascinating character with a lot to learn about him and how he rose through the huge success.
In this article, you can assist with the information about the personal as well as professional life of Mr. Binod Chaudhary.
Business and career start-up
In the 19th century, Chaudhary’s grandpa, Bhuramal Das Chaudhary, immigrated to Nepal from Rajasthan, India. He then began a textile business after arriving at the age of 20. A few years later, following the tragic incident which took place in the 1934 Nepal-Bihar earthquake, Binod formed Nepal’s first fully recognized apparel manufacturer. His dad, Lunkaran Das Chaudhary, expanded the textile industry while simultaneously establishing foreign trading companies and also a building enterprise. Lunkaran Das Chaudhary established Arun Emporium, his most profitable business, in 1968. When Chaudhary was eighteen, he was on his way to India to pursue chartered accountancy. At that time his father was diagnosed with a heart-related disease and also the doctor told him his father couldn’t continue to run the family business. As the family’s eldest son, he assumed to take control of the company. In the conversation with the Hong Kong Tatler, he also claimed, “I would have liked to study further but I was required to do my duty”.
Initially, he looked at importing Japanese Suzuki automobiles into Nepal. “Suzuki didn’t trust me since I was a really young clothes salesman,” he once said. I managed to persuade them. They handed me and four other people a trial partnership to market Suzuki in Nepal. The partnership would go to the person who sold the most vehicles in the six-month period.”
In 1973, he started his first independent business, Copper Floor, a discothèque. Due to the various rich and powerful people that frequented the club, the firm was a huge success. Chaudhary’s first worldwide agreement was with the Japanese electronics business National Panasonic in 1979.
Chaudhary purchased a Dubai government’s shareholder in the Nabil Bank in 1995. In 1990, he founded Innovation Group in Singapore. Innovation Group has been one of Nepal’s first large-scale glocal corporations. Hotels and resorts, the natural world and in-bound holiday business, FMCG (food and beverage), cement, real state, and financial services are all the areas of interest of the corporation. Chaudhary has also expressed an interest in forming a strategic partnership with Taj Hotels Group. He further wishes Nepal to reach a stage where foreign investors deem it a safe location to invest.
Chaudhary founded his own organization, the Chaudhary foundation. This has committed the United Nations Development Programme for the implementation and promotion of the SDGs in Nepal. The foundation was set up in 1995. Following the devasting earthquake, this organization has been assisting in the reconstruction of the country Nepal. The foundation also handed out 166 shelters for many of the earthquake victims.
He organized relief activities in Kathmandu on the same days as of April 2015 Nepal earthquake. He arranged for medical personnel to assist earthquake victims in various districts of Nepal. He has given more than $2.5 million to aid restore schools and residences destroyed by the earthquake. Chaudhary group has also given 500000 packs of Wai Wai noodles, dozens of juice cartoons, and food and drinking water to those in need.
Binod Chaudhary’s autobiography, “Binod Chaudhary: Atmakatha” was published in 2013. The book was later translated into English by journalist Sanjeev Ghimire and published under the title”Binod Chaudhary – My Life: From the Streets of Kathmandu to a Multi-billion – dollar Empire,” also known as “Making It Big: Nepal’s First Billionaire in His Own Words,” is a book written by Binod Chaudhary. In India, the novel was released with the phrase, Ek Unchi Udaan. the book has been described as a must-read for everyone. Readers can learn many things about life and expand their knowledge from his book and it is very interesting as the novel reveals so much about Binod Kumar Chaudhary.
The political scene
His first traditional partnership required a permit from the Nepalese government in 1979. Surya Bahadur Thapa was in force at the moment. When he contacted Chaudhary and his dad for funding assistance “to fund the campaign for the retention of Panchayat regime”, they chose to back Thapa’s political campaign. Chaudhary called Dhirendra Shah after his downfall. He claimed he was obligated to cooperate with Nepal’s Dhirendra “I had to do business with Dhirendra due to the need of that time. Instead of making profits from the investment, he gave me back-up. Afterward, the same security brought troubles”
In 1990, Chaudhary developed a close relationship with legislative parties counting the Communist Party of Nepal-Unified Marxist Leninist (CPN-UML). In 1994, he was a contributor to the design of their economic policy. As a result of this, he was elected to the constituent Assembly by the party in 2008. “I would like to see Nepal’s politics controlled by economic thickening, and I’d want to see someone who puts the country’s interests ahead of his or her own political ambitions.”, he added.
In 2017, Chaudhary entered Sher Bahadur Deuba’s Nepali Congress party. Chaudhary, according to the party, has made tremendous accomplishments in Nepal.
He served in Nepal’s parliament as a member of the Communist Party of Nepal-Unified Marxist Leninist. “They wanted me to be present and contribute in establishing the Constitution as a person who is known as a nation as well as outside the country,” he remarked. Prior to the program’s demise, Chaudhary also was a UML legislator.
Life Outside Work
Chaudhary was a unique Marwari. He chose a love marriage against Marwari tradition, even though he was already promised to another lady. But now he is happily married to his wife Sarika Chaudhary. He has three sons: Nirvana, who is lives in Nepal, and Rahul and Varun, who live abroad and assist him to handle his enterprises.