{{Use dmy dates|date=July 2019}} {{short description|Nepalese billionaire}} {{Infobox officeholder | name = Binod Chaudhary | native_name = {{nobold|बिनोद चौधरी}} | image = File:Binod Chaudhary (cropped).jpg | image_size = | caption = | office = Member of Parliament, Pratinidhi Sabha | successor = Bikram Khanal | term_start = 22 December 2022 | term_end = 12 September 2025 | constituency = Parasi 1 | predecessor = Hridayesh Tripathi | office1 = Member of Parliament, Pratinidhi Sabha for<br/>Nepali Congress party list | term_start1 = 4 March 2018 | term_end1 = 18 September 2022 | office2 = Member of 1st Nepalese Constituent Assembly for<br/>CPN (UML) party list | term_start2 = 28 May 2008 | term_end2 = 28 May 2012 | birth_date = {{Birth date and age|1955|4|14|df=yes}}<ref name = Biography>{{cite web|last=Chaudhary|first=Binod|title=Biography|url=http://blog.binodchaudhary.com/?page_id=230|publisher=Binod Chaudhary|accessdate=17 April 2013|archive-url=https://web.archive.org/web/20141025114251/http://blog.binodchaudhary.com/?page_id=230|archive-date=25 October 2014|url-status=live}}</ref> | birth_place = Kathmandu, Nepal | party = Nepali Congress (since 2017) | other_party = CPN (UML) | occupation = President of Chaudhary Group | known_for = Chaudhary Group | spouse = Sarika Chaudhary | children = 3 | honorific_prefix = | honorific_suffix = }}
'''Binod Chaudhary''' ({{langx|ne|विनोद चौधरी}}; born 14 April 1955) is a Nepalese billionaire businessman, politician and philanthropist. He is the chairman and president of the Chaudhary Group (CG).<ref>{{Cite web|url=http://www.chaudharygroup.com/index.php/about-us/presidents-message.html|title=President's Message|website=chaudharygroup.com|access-date=2019-05-28|archive-url=https://web.archive.org/web/20190528171606/http://www.chaudharygroup.com/index.php/about-us/presidents-message.html|archive-date=28 May 2019|url-status=live}}</ref>
In February 2013, he was recognised as Nepal's wealthiest person and only billionaire, having an estimated net worth of $1 billion.<ref name="kathmandupost.ekantipur.com">{{Cite web|url=http://kathmandupost.ekantipur.com/printedition/news/2013-03-04/chaudhary-first-nepali-on-forbes-list.html|title=Chaudhary first Nepali on Forbes list|website=kathmandupost.ekantipur.com|access-date=2019-05-28|archive-url=https://web.archive.org/web/20190528174431/http://kathmandupost.ekantipur.com/printedition/news/2013-03-04/chaudhary-first-nepali-on-forbes-list.html|archive-date=28 May 2019|url-status=live}}</ref> Since 2013, his net worth has risen to $1.7 billion.<ref name=":0" /> Besides his business, which focuses on distribution, retail, leisure and manufacturing, he has done charity work, bookwriting, and filmmaking.<ref>{{Cite web|url=https://www.lensnepal.com/profile/binod-chaudhary.html|title=Binod Chaudhary|website=Lens Nepal|access-date=2019-05-28|archive-url=https://web.archive.org/web/20190528165210/https://www.lensnepal.com/profile/binod-chaudhary.html|archive-date=28 May 2019|url-status=live}}</ref>
==Early life== Binod Kumar Chaudhary<ref>{{Cite web|url=https://www.spotlightnepal.com/2017/09/12/nepal-has-conducive-environment-chinese-investors-binod-kumar-chaudhary/|title=Nepal Has A Conducive Environment For Chinese Investors: Binod Kumar Chaudhary|website=SpotlightNepal|access-date=2019-05-28|archive-url=https://web.archive.org/web/20190528184522/https://www.spotlightnepal.com/2017/09/12/nepal-has-conducive-environment-chinese-investors-binod-kumar-chaudhary/|archive-date=28 May 2019|url-status=live}}</ref> was born in Kathmandu, Nepal, to a Marwari family.<ref name=":1">{{Cite journal|date=28 May 2019|title=Binod Chaudhary – My Story: From the Streets of Kathmandu to a Billion Dollar Empire.|url=http://www.martinchautari.org.np/files/SINHAS_Book-Reviews/SINHAS-Vol.20-No.2_Book-Reviews_Shubhanga-Pandey.pdf|access-date=28 May 2019|archive-url=https://web.archive.org/web/20181024125443/http://www.martinchautari.org.np/files/SINHAS_Book-Reviews/SINHAS-Vol.20-No.2_Book-Reviews_Shubhanga-Pandey.pdf|archive-date=24 October 2018|url-status=live}}</ref> His grandfather, Bhuramal Das Chaudhary, was an entrepreneur who started a textile business.<ref name=":1" /> His father was also a businessman who further developed his grandfather's business. Early in his career, Chaudhary chose to pursue further education rather than join the family business.<ref>{{Cite web|url=https://www.ndtv.com/business/nepal-gets-its-first-forbes-billionaire-319011|title=Nepal gets its first Forbes billionaire|website=NDTV.com|date=5 March 2013 |access-date=2019-05-29|archive-url=https://web.archive.org/web/20190529120323/https://www.ndtv.com/business/nepal-gets-its-first-forbes-billionaire-319011|archive-date=29 May 2019|url-status=live}}</ref>
Chaudhary credits his grandfather and father as inspirations.<ref>{{Cite web|url=https://thriveglobal.com/stories/binod-chaudhary-a-business-encyclopedia-for-the-new-generations/|title=Binod Chaudhary – A Business Encyclopedia for the New Generations – Thrive Global|website=thriveglobal.com|date=5 May 2019 |access-date=2019-05-29|archive-url=https://web.archive.org/web/20190529105313/https://thriveglobal.com/stories/binod-chaudhary-a-business-encyclopedia-for-the-new-generations/|archive-date=29 May 2019|url-status=live}}</ref> He is a fan of Bollywood icons Amitabh Bachchan and Ranbir Kapoor.<ref name=":8">{{Cite web|url=https://economictimes.indiatimes.com/biz-entrepreneurship/binod-chaudhary-nepals-first-dollar-billionaire-businessman/politics-and-icons/slideshow/20955333.cms|title=Binod Chaudhary: Nepal's first dollar-billionaire businessman|website=The Economic Times|access-date=2019-05-29}}</ref> He admires Nelson Mandela, the former president of South Africa, for bringing freedom to that country,<ref name=":8" /> and businessman J. R. D. Tata, for "building a company of rare distinction".<ref name=":8" />
== Business career ==
=== Early career === His grandfather, Bhuramal Das Chaudhary, migrated to Nepal from Rajasthan, India, in the 19th century. After his arrival at age 20, he started a textile business.<ref name=":1" /> A few years later, after the 1934 Nepal–Bihar earthquake, he became the first in Nepal to start a formally registered clothing company.<ref name=":1" /> His father, Lunkaran Das Chaudhary, continued to develop the textile business, and also established international-trading houses, and a construction company.<ref name=":1" /> In 1968 Lunkaran Das Chaudhary founded Arun Emporium, a retail store which was his most successful enterprise.<ref name=":1" /> At the age of eighteen, Binod Chaudhary was about to head to India to study chartered accountancy, but his father was diagnosed with heart disease and the doctor told him his father could not continue to run the family business.<ref name=":4">{{Cite web|url=https://www.telegraphindia.com/culture/nepal-rsquo-s-billion-dollar-man/cid/1319248|title=Nepal's billion-dollar man|website=The Telegraph|location=Kolkota|access-date=2019-05-28|archive-url=https://web.archive.org/web/20190528202812/https://www.telegraphindia.com/culture/nepal-rsquo-s-billion-dollar-man/cid/1319248|archive-date=28 May 2019|url-status=live}}</ref> As he was the eldest son in the family he stepped in as head of the business.<ref name=":4" /> He told ''The Telegraph'', "My life was overnight changed completely. I did not have a choice at all. But it has made me a tougher man."<ref name=":4" /> He also stated "I would have liked to study further but I was required to do my duty" in an interview with the ''Hong Kong Tatler''.<ref name=":3">{{Cite web|url=https://hk.asiatatler.com/society/binod-chaudhary-interview|title=How Binod Chaudhary Became Nepal's Only Billionaire|last=Lamunière|first=Pierre|date=10 May 2019|website=Hong Kong Tatler|access-date=2019-05-28|archive-url=https://web.archive.org/web/20190528165233/https://hk.asiatatler.com/society/binod-chaudhary-interview|archive-date=28 May 2019|url-status=live}}</ref>
At first, he considered importing Japanese Suzuki cars to Nepal. He once wrote that "Suzuki did not trust me as I was a young clothes trader. I convinced them. They gave me a trial dealership along with four others to sell Suzuki in Nepal. Whoever sold most cars in six months would get the dealership."<ref>{{Cite web|url=https://www.asian-voice.com/Opinion/Columnists/Rani-Singh/Binod-K-Chaudhary-The-Only-Forbes-Billionare-from-Nepal|title=Binod K Chaudhary – The Only Forbes Billionaire from Nepal...|website=Asian Voice |access-date=2019-05-29|archive-url=https://web.archive.org/web/20190529131215/https://www.asian-voice.com/Opinion/Columnists/Rani-Singh/Binod-K-Chaudhary-The-Only-Forbes-Billionare-from-Nepal|archive-date=29 May 2019|url-status=live}}</ref>
His first independent business was in 1973—a discothèque company called Copper Floor.<ref name=":1" /> The company was a huge success, because of the many wealthy and powerful people who visited the club.<ref name=":1" /> In 1979, Chaudhary made a deal with Japanese electronic firm National Panasonic, which was his first multinational deal.<ref name=":1" />
=== Chaudhary Group === The Chaudhary Group is a business group, founded by Chaudhary's grandfather Lunkaran Das Chaudhary.<ref>{{Cite web|url=http://www.chaudharygroup.com/index.php/about-us/history.html|title=About Us|website=chaudharygroup.com|access-date=2019-05-28|archive-url=https://web.archive.org/web/20130827212220/http://chaudharygroup.com/index.php/about-us/history.html|archive-date=27 August 2013|url-status=live}}</ref> Wai Wai, a brand of instant noodles, introduced to Nepal in 1984, became the company's bestseller.<ref>{{Cite web|url=http://www.chaudharygroup.com/index.php/media/211.html|title=Beating Hunger With Wai Wai|website=chaudharygroup.com|access-date=2019-05-28|archive-url=https://web.archive.org/web/20190528171552/http://www.chaudharygroup.com/index.php/media/211.html|archive-date=28 May 2019|url-status=live}}</ref> Chaudhary took over his family company at the age of 23, and wrote "running that disco taught me a lot about business but it was only when I took over the family business of running Arun Emporium, turning its fortune and looking after family, I understood the business."<ref>{{Cite web|url=https://medium.com/@meenakshisaharan/book-summary-making-it-big-binod-chaudhary-autobiography-of-nepals-first-billionaire-8aefed0cb9c1|title=Book Summary: Making It Big-Binod Chaudhary (Autobiography of Nepal's first billionaire)|last=Saharan|first=Meenakshi|date=16 July 2018|website=Medium|access-date=2019-05-28|archive-url=https://web.archive.org/web/20190528171552/https://medium.com/@meenakshisaharan/book-summary-making-it-big-binod-chaudhary-autobiography-of-nepals-first-billionaire-8aefed0cb9c1|archive-date=28 May 2019|url-status=live}}</ref> The idea to sell Wai Wai noodles came to Chaudhary after seeing many people from Thailand with packets of noodles. Soon after that, he realized that there was a craving for Thai noodles in Nepal.<ref>{{Cite web|url=https://economictimes.indiatimes.com/biz-entrepreneurship/binod-chaudhary-nepals-first-dollar-billionaire-businessman/marxist-lawmaker-political-role/slideshow/20955356.cms|title=Binod Chaudhary: Nepal's first dollar-billionaire businessman|website=The Economic Times|access-date=2019-05-28}}</ref> He went to Thailand, where he visited Thai Preserved Food Factory Co. Ltd., the company that produced Wai Wai noodles for Thailand.<ref name=":5">{{Cite news|url=https://www.bangkokpost.com/lifestyle/interview/1582402/relationship-king|title=Relationship king|newspaper=Bangkok Post |date=26 November 2018 |access-date=2019-05-28 |last1=Tongwaranan |first1=Tanyatorn }}</ref> He wanted to collaborate with the company, however, the owner was not that confident the idea of bringing the noodles to Nepal would work due to the country's "poverty and poor infrastructure".<ref name=":5" />
Chaudhary told ''Forbes India'': <blockquote>Yes, back then I was simply looking to create a product from flour and then I decided on this product. Flying to Bangkok and back, I saw many cases of noodles on the baggage belt and I would ask people: 'Why are there so many of these cases coming from Thailand?' They would tell me that people loved them. I think people have grown with the product. To begin with, Wai Wai wasn't easily available in India. Today we have 20 percent market share in India. Now we're looking at creating a large national campaign here. We do localised marketing, but this is going to be a big one.<ref name=":6">{{Cite web|url=http://www.forbesindia.com/article/special/meet-binod-chaudhary-the-richest-man-in-nepal/42965/1|title=Meet Binod Chaudhary, the richest man in Nepal|website=Forbes India|access-date=2019-05-28|archive-url=https://web.archive.org/web/20190528180658/http://www.forbesindia.com/article/special/meet-binod-chaudhary-the-richest-man-in-nepal/42965/1|archive-date=28 May 2019|url-status=live}}</ref></blockquote> After seeing Chaudhary's enthusiasm, he taught him how to make the noodles.<ref name=":6" /> He also told the ''Bangkok Post'', "I'm a great admirer of Thailand and this company that has given our group this kind of status."<ref name=":6" />
In 2013, Chaudhary was listed as Nepal's first billionaire by ''Forbes''.<ref name="kathmandupost.ekantipur.com"/><ref>{{Cite web|url=https://www.forbes.com/sites/naazneenkarmali/2013/03/05/binod-chaudhary-is-nepals-first-billionaire/|title=Binod Chaudhary Is Nepal's First Billionaire|last=Karmali|first=Naazneen|website=Forbes|access-date=2019-05-28|archive-url=https://web.archive.org/web/20170823030337/https://www.forbes.com/sites/naazneenkarmali/2013/03/05/binod-chaudhary-is-nepals-first-billionaire/|archive-date=23 August 2017|url-status=live}}</ref> As of March 2019 he is listed at number 1,349 on ''Forbes''{{'}} Billionaires of 2019 list.<ref name=":0">{{Cite web|url=https://www.forbes.com/profile/binod-chaudhary/|title=Binod Chaudhary|website=Forbes|access-date=2019-05-28|archive-url=https://web.archive.org/web/20170409115638/https://www.forbes.com/profile/binod-chaudhary/|archive-date=9 April 2017|url-status=live}}</ref> After the announcement, he said, "I am humbled. As a businessman, you don't get a Nobel. This is my Nobel Prize, ... I see this as a recognition for the 40 years of my hard work".<ref>{{Cite news|url=https://economictimes.indiatimes.com/news/international/impoverished-nepal-produces-first-billionaire-binod-chaudhary/articleshow/18813675.cms|title=Impoverished Nepal produces first billionaire – Binod Chaudhary|date=5 March 2013|work=The Economic Times|access-date=2019-05-28}}</ref> In 2015 he was featured in cover of ''Forbes Asia''.<ref>{{Cite web|url=https://kathmandupost.ekantipur.com/news/2015-08-28/binod-chaudhary-on-the-cover-of-forbes-asia.html|title=Binod Chaudhary on the cover of Forbes Asia|website=kathmandupost.ekantipur.com|access-date=2019-05-28|archive-url=https://web.archive.org/web/20190528174431/https://kathmandupost.ekantipur.com/news/2015-08-28/binod-chaudhary-on-the-cover-of-forbes-asia.html|archive-date=28 May 2019|url-status=live}}</ref> By 2018 his fortune had risen by $200 million.<ref>{{Cite web|url=https://kathmandupost.ekantipur.com/news/2018-03-08/chaudharys-fortune-rises-by-200-million.html|title=Chaudhary's fortune rises by $200 million|website=kathmandupost.ekantipur.com|access-date=2019-05-29|archive-url=https://web.archive.org/web/20190529105317/https://kathmandupost.ekantipur.com/news/2018-03-08/chaudharys-fortune-rises-by-200-million.html|archive-date=29 May 2019|url-status=live}}</ref> After appearing in the list he stated that, "''Forbes''{{'}} Billionaire List is the result of the blood and sweat of four generations. I am proud to say that there are 7000 people associated with the Chaudhary Group (CG) in 19 countries."<ref name=":9">{{Cite news|url=https://www.chaudharygroup.com/attachments/article/250/newsletter1415.pdf|title=LEADERSHIP & MANAGEMENT DEVELOPMENT PROGRAM|archive-url=https://web.archive.org/web/20140724064439/http://chaudharygroup.com/attachments/article/250/newsletter1415.pdf|archive-date=24 July 2014|url-status=live}}</ref>
In Daman, India during November 2019 the local administration<ref>{{Cite web|date=5 November 2019|title=Demolition of houses: Section 144 in Daman after residents protest|url=https://indianexpress.com/article/cities/ahmedabad/demolition-of-houses-section-144-in-daman-after-residents-protest-6103699/|access-date=2021-03-02|website=Indian Express|language=en}}</ref> confiscated the valuable beachfront land and bulldozed the homes of the local indigenous fishing community.<ref>{{Cite web|date=4 November 2019|title=Daman: Section 144 Imposed, Two Government Schools Converted Into 'Temporary Jails'|url=https://thewire.in/rights/section-144-daman-protests-evictions|access-date=2021-03-02|website=The Wire|language=en}}</ref> The ensuing 2019 Daman Indigenous Landgrabbing Protests resulted with the detention of 70 protesters in schools converted to 'temporary jails' and another eight arrests. Few of the adivasi fisherfolk were rehoused whilst most languished traumatised and homeless on the streets near the rubble of their razed homes.<ref>{{Cite web|last=Uppal|first=Jas|date=6 January 2020|title=Daman – Land and Property Owned by the Fishing Communities Confiscated and Homes Demolished|url=https://www.justiceupheld.org.uk/daman-land-and-property-owned-by-the-fishing-communities-confiscated-and-homes-demolished/|access-date=2021-03-02|website=Justice Upheld|language=en}}</ref> As of March 2021 the site is now CG Corp Global's [https://www.google.com/maps/place/The+Fern+Seaside+Luxurious+Tent+Resort/@20.4074813,72.8292215,15z/data=!4m8!3m7!1s0x0:0xaa85068167928bda!5m2!4m1!1i2!8m2!3d20.4074813!4d72.8292215 The Fern Seaside Luxurious Tent Resort] offering tourist accommodation for $80US/£57GBP/Rs6000 for a night in a tent.<ref>{{Cite news|title=CG Corp Global plans 79 Fern Hotels & Resorts in India by 2020-end|work=The Economic Times|url=https://economictimes.indiatimes.com/industry/services/hotels-/-restaurants/cg-corp-global-plans-79-fern-hotels-resorts-in-india-by-2020-end/articleshow/66793806.cms|access-date=2021-08-18}}</ref>
=== Other businesses === In 1995, Chaudhary bought the Dubai government's controlling stake in the Nabil Bank.<ref>{{Cite news|url=https://www.arabianbusiness.com/nepal-s-first-billionaire-500427.html|title=Nepal's first billionaire|last=Trenwith|first=Courtney|newspaper=Arabian Business|date=3 May 2013 |access-date=2019-05-29|archive-url=https://web.archive.org/web/20190529134200/https://www.arabianbusiness.com/nepal-s-first-billionaire-500427.html|archive-date=29 May 2019|url-status=live}}</ref> He started Cinnovation Group on Singapore in 1990.<ref name=":10">{{Cite web|url=http://www.newbusinessage.com/Articles/view/7967|title=Chaudhary Group {{!}} New Business Age – monthly business magazine in English published from Nepal|website=newbusinessage.com|date=13 April 2018 |access-date=2019-05-29|archive-url=https://web.archive.org/web/20190529134202/http://www.newbusinessage.com/Articles/view/7967|archive-date=29 May 2019|url-status=live}}</ref> Cinnovation Group is one of the first highly pervasive multinational Nepali companies.<ref name=":10" /> The company has interests in hotels and resorts, wildlife and in-bound tourism, FMCG (food and beverage), real estate, cement, and financial services.<ref name=":10" /> Chaudhary has also started to show interest in joint ventures with Taj Hotels Group.<ref name=":11">{{Cite web|url=https://www.wealthx.com/featured/2015/the-nepalese-billionaire-using-his-noodle-to-help-nepal/|title=The Billionaire Using His Noodle To Help Nepal|date=22 June 2015|website=Wealth-X|access-date=2019-05-29|archive-url=https://web.archive.org/web/20190529134212/https://www.wealthx.com/featured/2015/the-nepalese-billionaire-using-his-noodle-to-help-nepal/|archive-date=29 May 2019|url-status=live}}</ref> He also wants Nepal to move to a certain point where other investors see it as a safe place to invest.<ref name=":11" /> Has said that, "The government must become investment friendly and appreciate wealth creation and entrepreneurship. We need to give investors confidence in us to take Nepal forward. That's my single biggest priority."<ref name=":11" />
== Politics ==
=== Early politics === In 1979 his first multinational collaboration needed a license from Nepal's government. At that time Surya Bahadur Thapa was in power.<ref name=":1" /> When he asked Chaudhary and his father for financial advice "to fund the campaign for the retention of Panchayat regime,"<ref name=":1" /> they decided to support Thapa's political campaign.<ref name=":1" /> After his downfall, Chaudhary contacted Dhirendra Shah.<ref name=":1" /> He said he was forced to work with the Dhirendra of Nepal, "I had to do business with Dhirendra due to the need of that time. Rather than making profits from the investment, he gave me protection. Afterwards, the same security brought troubles".<ref>{{Cite web|url=https://www.spotlightnepal.com/2013/02/10/i-was-forced-to-do-business-with-dhirendra-shah/|title=I was forced to do business with Dhirendra Shah|website=SpotlightNepal|access-date=2019-05-29|archive-url=https://web.archive.org/web/20190529125811/https://www.spotlightnepal.com/2013/02/10/i-was-forced-to-do-business-with-dhirendra-shah/|archive-date=29 May 2019|url-status=live}}</ref>
In the first People's Movement, which occurred in 1990, he became close with parliamentary parties including the Communist Party of Nepal (Unified Marxist–Leninist) (CPN-UML). He was involved working on the draft of their economic policy in 1994. This led to him becoming a member of the Constituent Assembly nominated by the party in 2008.<ref name=":1" /> He has also said, "I would like to see Nepal's politics being driven by economic growth. I want to see someone who does not compromise the country's interests for his personal or party-oriented agendas."<ref name=":9" />
=== Nepali Congress === In 2017, Chaudhary joined the Nepali Congress party, led by Sher Bahadur Deuba.<ref name="Nepali Congress welcomes Chaudhary">{{Cite web|url=https://thehimalayantimes.com/kathmandu/nepali-congress-welcomes-binod-chaudhary/|title=Nepali Congress welcomes Chaudhary|date=30 October 2017|website=The Himalayan Times|access-date=2019-05-29|archive-url=https://web.archive.org/web/20190529110703/https://thehimalayantimes.com/kathmandu/nepali-congress-welcomes-binod-chaudhary/|archive-date=29 May 2019|url-status=live}}</ref> The party has stated that Chaudhary has made significant contributions to the country.
=== CPN-UML === He was a member of the parliament of Nepal, representing the Communist Party of Nepal-Unified Marxist Leninist. He has said that, "They [CPN-UML] wanted me to come and contribute in the making of the Constitution as a person who is known within and outside the country."<ref>{{Cite news|url=https://economictimes.indiatimes.com/news/company/corporate-trends/binod-chaudhary-meet-nepals-first-dollar-billionaire-businessman/articleshow/20947752.cms|title=Binod Chaudhary: Meet Nepal's first dollar-billionaire businessman|last=NP|first=Ullekh|date=7 July 2013|work=The Economic Times|access-date=2019-05-29}}</ref> He was also a UML lawmaker before that program went defunct.<ref>{{Cite web|url=https://www.sharesansar.com/newsdetail/a-candid-tale-of-an-ambitious-entrepreneur|title=A candid tale of an ambitious entrepreneur|date=15 December 2016|website=sharesansar.com|access-date=2019-05-29|archive-url=https://web.archive.org/web/20190529122117/https://www.sharesansar.com/newsdetail/a-candid-tale-of-an-ambitious-entrepreneur|archive-date=29 May 2019|url-status=live}}</ref>
== Other works ==
=== Author ===
In 2013, Chaudhary released his autobiography, titled "''Binod Chaudhary: Atmakatha''".<ref>{{Cite web|url=http://kathmandupost.ekantipur.com/printedition/news/2013-05-25/binod-chaudhary-biography-for-rs-190.html|title=Binod Chaudhary biography for Rs 190|website=kathmandupost.ekantipur.com|access-date=2019-05-28|archive-url=https://web.archive.org/web/20190528174433/http://kathmandupost.ekantipur.com/printedition/news/2013-05-25/binod-chaudhary-biography-for-rs-190.html|archive-date=28 May 2019|url-status=live}}</ref> The book was later translated into English by journalist Sanjeev Ghimire, titled "''Binod Chaudhary – My Life: From the Streets of Kathmandu to a Billion Dollar Empire"'', and sometimes called "''Making It Big: The Inspiring Story of Nepal's First Billionaire in His Own Words''"<ref>{{Cite book|url=https://www.amazon.com/dp/B06XXXZS43/ref=rdr_kindle_ext_tmb |title=Making It Big: The Inspiring Story of Nepal's First Billionaire in His Own Words|date=2 May 2016 |publisher=Portfolio |access-date=2019-05-28}}</ref> which was released on 2015.<ref>{{Cite web|url=https://thehimalayantimes.com/lifestyle/art-culture/chaudharys-autobiographys-english-version-out/|title=Binod Chaudhary's autobiography's English version out|date=30 December 2015|website=The Himalayan Times|access-date=2019-05-28|archive-url=https://web.archive.org/web/20190528174432/https://thehimalayantimes.com/lifestyle/art-culture/chaudharys-autobiographys-english-version-out/|archive-date=28 May 2019|url-status=live}}</ref> The book was launched in India under the title ''Ek Unchi Udaan''.<ref>{{Cite news|url=https://www.issuewire.com/secret-behind-billioner-life-ek-unchi-udaan-autobiography-of-mr-binod-chaudhary-launched-in-india-1599606513049945|title=Secret behind Billioner Life 'Ek Unchi Udaan' Autobiography of Mr. Binod Chaudhary launched in India|work=Issuewire}}</ref> Chaudhary told ''Forbes India'', "When I made up my mind to write this book, I also decided that I would not manipulate it".<ref>{{Cite web|url=http://www.forbesindia.com/article/checkin/billionaire-binod-chaudhary-making-it-big-in-nepal/43101/1|title=Billionaire Binod Chaudhary: Making it Big, in Nepal|website=Forbes India|access-date=2019-05-28|archive-url=https://web.archive.org/web/20190528185608/http://www.forbesindia.com/article/checkin/billionaire-binod-chaudhary-making-it-big-in-nepal/43101/1|archive-date=28 May 2019|url-status=live}}</ref> The book was called a must read for everyone. Some sources said, "It charts the immensely successful and interesting life story of a self-made man who never forgot to enjoy or live his life while navigating his way up a volatile, unstable and unfriendly environment."<ref>{{Cite web|url=https://www.deccanchronicle.com/sunday-chronicle/shelf-life/080516/the-road-to-mega-success.html|title=The road to mega success|last=Bhatia|first=Gayatri Reddy|date=8 May 2016|website=Deccan Chronicle|access-date=2019-05-29|archive-url=https://web.archive.org/web/20190529105316/https://www.deccanchronicle.com/sunday-chronicle/shelf-life/080516/the-road-to-mega-success.html|archive-date=29 May 2019|url-status=live}}</ref>
''The Kathmandu Post'' wrote, "The 327-page autobiography published by Nepalaya reveals a lot about Chaudhary, who was an unusual Marwari. Against the Marwari tradition, he went for a love marriage, that too when he was already engaged with another lady. Starting a discotheque—Copper Floor—in early 70s in Kathmandu was again unthinkable at the time for someone from Marwari family."<ref>{{Cite web|url=http://kathmandupost.ekantipur.com/printedition/news/2013-02-02/a-candid-tale-of-an-ambitious-entrepreneur.html|title=A candid tale of an ambitious entrepreneur|website=kathmandupost.ekantipur.com|access-date=2019-05-29|archive-url=https://web.archive.org/web/20190529125812/http://kathmandupost.ekantipur.com/printedition/news/2013-02-02/a-candid-tale-of-an-ambitious-entrepreneur.html|archive-date=29 May 2019|url-status=live}}</ref> Rajan Thapaliya of the ''HuffPost'' wrote, "I recommend Mr. Chaudhary's book for those looking to expand and improve their knowledge. His information is approached from a plethora of angles and he uses his mistakes as a learning tool. He his a charismatic man with a vision."<ref>{{Cite web |last=Thapaliya |first=Rajan |date=2016-06-22 |title=What I've Learned From Binod Chaudhary- The First Billionaire of Nepal |url=https://www.huffpost.com/entry/what-ive-learned-from-bin_b_10610494 |access-date=2019-05-29 |website=HuffPost}}</ref> Nirmal Thapa wrote, "Binod Chaudhary's autobiography is a very good read for someone to understand how the entrepreneur built a billion dollar empire. A must read for the youth of the country and for aspiring/current entrepreneurs who want to build a multinational company from Nepal."<ref>{{Cite web|url=http://www.nirmalthapa.com/binod-chaudhary-my-story-book-review/|title=Binod Chaudhary My Story book review|date=9 September 2018|website=Nirmal's Blog|access-date=2019-05-29|archive-url=https://web.archive.org/web/20190529131214/http://www.nirmalthapa.com/binod-chaudhary-my-story-book-review/|archive-date=29 May 2019|url-status=live}}</ref>
=== Charity works === On the same days as the April 2015 Nepal earthquake, he organized relief efforts in Kathmandu.<ref name=":2">{{Cite web|url=https://www.forbes.com/sites/susancunningham/2015/08/26/binod-chaudhary-helps-rebuild-nepal/|title=Binod Chaudhary Helps Rebuild Nepal|last=Cunningham|first=Susan|website=Forbes|access-date=2019-05-28|archive-url=https://web.archive.org/web/20190528174431/https://www.forbes.com/sites/susancunningham/2015/08/26/binod-chaudhary-helps-rebuild-nepal/|archive-date=28 May 2019|url-status=live}}</ref> He arranged for health care workers to help the victims of the earthquake in 12 districts of Nepal.<ref name=":2" /> He has donated more than $2.5 million to help rebuild schools and homes destroyed by the earthquake,<ref name=":2" /> and the Chaudhary Group has also donated 500,000 packets of Wai Wai noodles, thousands of juice cartons, and food and water to people in need.<ref>{{Cite web|url=https://www.firstpost.com/world/nepals-billionaire-construct-1000-houses-support-long-term-relief-work-2232878.html|title=Nepal's only billionaire to construct 1,000 houses, support long-term relief work|website=Firstpost|date=7 May 2015 |access-date=2019-05-28|archive-url=https://web.archive.org/web/20190528180702/https://www.firstpost.com/world/nepals-billionaire-construct-1000-houses-support-long-term-relief-work-2232878.html|archive-date=28 May 2019|url-status=live}}</ref>
==== Chaudhary Foundation ==== He has his own charity, called the Chaudhary Foundation. It has signed the United Nations Development Programme for the advancement and promotion of Sustainable Development Goals (SDGs) in Nepal.<ref>{{Cite web|url=https://thehimalayantimes.com/business/undp-chaudhary-foundation-partner-to-advance-sustainable-development-goals-in-nepal/|title=UNDP, CF partner to advance SDGs in Nepal|date=14 July 2017|website=The Himalayan Times|access-date=2019-05-28|archive-url=https://web.archive.org/web/20190528204336/https://thehimalayantimes.com/business/undp-chaudhary-foundation-partner-to-advance-sustainable-development-goals-in-nepal/|archive-date=28 May 2019|url-status=live}}</ref><ref>{{Cite web|url=http://www.np.undp.org/content/nepal/en/home/presscenter/pressreleases/2017/07/14/chaudhary-foundation-and-undp-join-hands-to-push-forth-the-sdgs-in-nepal-.html|title=Chaudhary Foundation and UNDP join hands to push forth the SDGs in Nepal|website=UNDP in Nepal|access-date=2019-05-28|archive-url=https://web.archive.org/web/20190528204341/http://www.np.undp.org/content/nepal/en/home/presscenter/pressreleases/2017/07/14/chaudhary-foundation-and-undp-join-hands-to-push-forth-the-sdgs-in-nepal-.html|archive-date=28 May 2019|url-status=live}}</ref> The foundation was established in 1995.<ref>{{Cite web|url=http://www.chaudharyfoundation.org/about-us.php|title=Chaudhary Foundation|website=chaudharyfoundation.org|access-date=2019-05-29|archive-url=https://web.archive.org/web/20181230060947/http://www.chaudharyfoundation.org/about-us.php|archive-date=30 December 2018|url-status=dead}}</ref> After the serious earthquake the foundation has been helping to rebuild Nepal.<ref>{{Cite journal|last1=Sobti|first1=Inakshi|last2=Cohen|first2=Lauren H.|last3=Malloy|first3=Christopher J.|date=25 March 2018|title=Chaudhary Group: Rebuilding Nepal (B)|url=https://www.hbs.edu/faculty/Pages/item.aspx?num=54355|access-date=29 May 2019|archive-url=https://web.archive.org/web/20190630235030/https://www.hbs.edu/faculty/Pages/item.aspx?num=54355|archive-date=30 June 2019|url-status=live}}</ref> The foundation has also handed over 166 shelters for victims of the earthquake to the Kumpur Village Development Committee (VDC) located in Dhading.<ref name=":7">{{Cite web|url=https://myrepublica.nagariknetwork.com/news/15578/|title=Chaudhary Foundation hands over 166 transitional shelters in Dhading|website=My Republica|access-date=2019-05-29|archive-url=https://web.archive.org/web/20190529105314/https://myrepublica.nagariknetwork.com/news/15578/|archive-date=29 May 2019|url-status=live}}</ref> They have also said, "Chaudhary Foundation is willing to join hands with the National Reconstruction Authority on its mission of rebuilding Nepal. We hope that the rebuilding efforts are driven in a way to boost the country's economic development. Our Foundation wishes to significantly contribute toward that direction."<ref name=":7" />
==Awards== In 2015 he was honoured by Sri Sri University for his outstanding contribution in philanthropy; he was given an honorary doctorate degree.<ref>{{Cite news|url=https://economictimes.indiatimes.com/news/international/world-news/nepals-billionaire-binod-chaudhary-honoured-with-doctorate-by-indian-varsity/articleshow/48778395.cms|title=Nepal's billionaire Binod Chaudhary honoured with doctorate by Indian varsity|date=2 September 2015|work=The Economic Times|access-date=2019-05-28|archive-url=https://web.archive.org/web/20170519223652/http://economictimes.indiatimes.com/news/international/world-news/nepals-billionaire-binod-chaudhary-honoured-with-doctorate-by-indian-varsity/articleshow/48778395.cms|archive-date=19 May 2017|url-status=live}}</ref> In 2016 he was awarded Asian Man of the Year Award.<ref>{{Cite web|url=https://www.spotlightnepal.com/2016/08/20/binod-chaudhary-awarded-asian-man-of-the-year/|title=Binod Chaudhary Awarded 'Asian Man of the Year'|website=SpotlightNepal|access-date=2019-05-28|archive-url=https://web.archive.org/web/20190528180704/https://www.spotlightnepal.com/2016/08/20/binod-chaudhary-awarded-asian-man-of-the-year/|archive-date=28 May 2019|url-status=live}}</ref> Later in 2016 he was also awarded the 2016 Frost & Sullivan Growth, Innovation and Leadership (GIL) Award.<ref>{{Cite web|url=https://www.thehindubusinessline.com/business-wire/frost-amp-sullivan-honors-first-nepalese-billionaire-mr-binod-chaudhary-with-the-growth-innovation-and-leadership-award-2016/article9370818.ece|title=Frost & Sullivan honors first Nepalese billionaire Mr. Binod Chaudhary with the growth, innovation and Leadership Award, 2016|website=@businessline|date=21 November 2016 |access-date=2019-05-29|archive-url=https://web.archive.org/web/20190529105318/https://www.thehindubusinessline.com/business-wire/frost-amp-sullivan-honors-first-nepalese-billionaire-mr-binod-chaudhary-with-the-growth-innovation-and-leadership-award-2016/article9370818.ece|archive-date=29 May 2019|url-status=live}}</ref> In 2019 he was awarded with Lifetime Achievement Award by Hotelivate.<ref>{{Cite web|url=http://www.dailynews.lk/2019/01/23/business/175194/hotelivate-confers-binod-chaudhary-lifetime-achievement-award|title=HOTELIVATE confers Binod Chaudhary with Lifetime Achievement Award|website=Daily News|access-date=2019-05-29|archive-url=https://web.archive.org/web/20190529120323/http://www.dailynews.lk/2019/01/23/business/175194/hotelivate-confers-binod-chaudhary-lifetime-achievement-award|archive-date=29 May 2019|url-status=live}}</ref>
==Personal life== He is married and has three children.<ref>{{Cite web|url=https://www.thailandtatler.com/society/binod-chaudhary-interview|title=How Binod Chaudhary Became Nepal's First & Only Billionaire|last=Lamunière|first=Pierre|date=13 May 2019|website=Thailand Tatler|access-date=2019-05-28|archive-url=https://web.archive.org/web/20190528165213/https://www.thailandtatler.com/society/binod-chaudhary-interview|archive-date=28 May 2019|url-status=live}}</ref>
== Controversy == Binod Chaudhary has been subject to various allegations and controversies over the years. Chaudhary has faced accusations of tax evasion, financial irregularities, and alleged monopolistic practices within certain sectors. Notably, he has established prominent relationships with political entities in power, including Prince Dhirendra during the monarchy rule in Nepal, and later affiliations with CPN-UML and Nepali Congress after Nepal transitioned into a republic.<ref>{{cite news |title=Nepal's richest man in Nepali Congress courts controversies, raises moral questions |url=https://www.nepallivetoday.com/2021/12/21/nepals-richest-man-in-nepali-congress-courts-controversies-raises-moral-questions/ |work=Nepal Live Today |language=en}}</ref> One significant controversy involves the alleged privatization of land belonging to the Bansbari Shoe Factory, a government entity.<ref>{{Cite web |title=Nepal's Only Billionaire Investigated In Alleged Land Grab Case |url=https://www.ndtv.com/world-news/nepal-billionaire-investigated-in-alleged-land-grab-case-5278613 |access-date=2024-03-21 |website=NDTV.com}}</ref> Investigations revealed that Chaudhary's company took control of shares allocated to the public during the privatization process, subsequently gaining control of the land.<ref>{{cite news |title=बाँसबारीको जग्गा हडप्न सर्वसाधारणलाई दिनुपर्ने फूटवेयरको २४ प्रतिशत शेयर नै 'कब्जा' |url=https://www.ukaalo.com/ukaalo-vishesh/20240208-bansbari-land-case-cg-group/14729 |work=Ukaalo |language=Nepali}}</ref><ref>{{cite news |title=चौधरी ग्रुपले हडपेको सतुंगलको सार्वजनिक जग्गाः जिल्लाको फैसला भएन सदर, विपक्षी झिकाउन उच्च अदालतको आदेश |url=https://www.ukaalo.com/ukaalo-vishesh/20240206-people-struggle-to-returen-land-grabbed-by-cg/14679 |work=Ukaalo |language=Nepali}}</ref> Additionally, one of Chaudhary Group's subsidiaries, Apollo Steel Industries, faced accusations of land grabbing in Satungal, Kathmandu. Local communities have accused the company of usurping a public road, which is currently fenced off and part of the premises housing CG Electronics. This dispute dates back to 1987 and the road in question still remains closed to the public.<ref>{{cite news |url=https://www.ukaalo.com/ukaalo-vishesh/20240206-people-struggle-to-returen-land-grabbed-by-cg/14679 |title=चौधरी ग्रुपले हडपेको सतुंगलको सार्वजनिक जग्गाः जिल्लाको फैसला भएन सदर, विपक्षी झिकाउन उच्च अदालतको आदेश }}</ref> Furthermore, Chaudhary's investment in Hotel Summit has been marred by allegations of procedural lapses and neglect regarding neighboring properties. Investigations revealed the company's failure to obtain approval from local authorities for construction and circumvention of mandatory Environmental Impact Assessments (EIA).<ref>{{cite news |title=समिट अपार्टमेन्टमा चौधरी समूहसँग ललितपुर महानगरकै 'मिलेमतो' |url=https://www.ukaalo.com/news/20230411-summit-apartment/5879 |work=Ukaalo |language=Nepali}}</ref><ref>{{cite news |title=Summit Apartments land subsidence issue enters Parliament |url=https://kathmandupost.com/lalitpur/2023/04/13/summit-apartments-land-subsidence-issue-enters-parliament |work=kathmandupost.com |language=English}}</ref> He was also named in the Pandora Papers leak in 2021.<ref>{{cite news |title=Pandora Papers reporting from across Asia - ICIJ |url=https://www.icij.org/investigations/pandora-papers/pandora-papers-reporting-from-across-asia/ |date=23 November 2021}}</ref> While his son denies allegations, stating compliance with the law, investigations suggest the use of loopholes to circumvent Nepal's legal restrictions on owning foreign assets and capital controls for global business expansion. Chaudhary himself has alluded to such practices in his autobiography.<ref>{{cite news |title=ट्याक्स हेभन मुलुकमा चौधरी ग्रुपका परिवारैको लगानी |url=https://cijnepal.org.np/binod-chaudhary-pandorapapers/ |work=CIJ}}</ref><ref>{{cite book |last1=Chaudhary |first1=Binod |title=Making it big: the inspiring story of Nepal's first billionaire in his own words |date=2016 |publisher=Portfolio/Penguin |location=Gurgaon, Haryana, India |isbn=978-0143426035}}</ref>
==References== {{Reflist}}
==External links== * [http://blog.binodchaudhary.com/ Binod Chaudhary's website] * [https://www.forbes.com/profile/binod-chaudhary/ Binod Chaudhary's Profile in Forbes]
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{{DEFAULTSORT:Chaudhary, Binod}} Category:Nepalese businesspeople Category:Businesspeople from Kathmandu Category:Nepalese billionaires Category:Nepalese people of Indian descent Category:Nepali Congress politicians from Lumbini Province Category:1955 births Category:Living people Category:Nepal MPs 2017–2022 Category:21st-century Nepalese businesspeople Category:20th-century Nepalese businesspeople Category:Nepalese company founders Category:Members of the 1st Nepalese Constituent Assembly Category:Communist Party of Nepal (Unified Marxist–Leninist) politicians Category:Nepal MPs 2022–2025