Binod Chaudhary’s rank improves

Kathmandu, March 20

Binod Chaudhary, the chairman of Chaudhary Group (CG), climbed 10 rungs in the list of billionaires of the world in 2017, which was published by the Forbes magazine today.

Chaudhary, who held the 1,577th position among the billionaires of the world last year, saw his rank improve to 1,567th position in the list published by Forbes for 2017.

The CG chairman, according to Forbes, owns properties worth $1.31 billion. Chaudhary’s assets were worth $1.1 billion in 2016.

Chaudhary, who is also the sole billionaire of Nepal, has wider portfolio of CG, including food, electronics, beers and hotels. He also has a major stake in Nabil Bank.

CG Foods, the maker of the popular Wai Wai noodles, has overseas factories in India, Serbia, Saudi Arabia and Bangladesh.

Similarly, CG’s hotel assets consist of 29 owned and 70 managed properties, including a string of luxury hotels with India’s Taj Hotel Chain, according to the  Forbes.