Binod Chaudhary

Binod Chaudhary (Nepali: विनोद चौधरी; born 14 April 1955) is a Nepalese billionaire businessman, politician and philanthropist.

[2] In February 2013, he was recognised as Nepal's wealthiest person and only billionaire, having an estimated net worth of $1 billion.

[4] Besides his business, which focuses on distribution, retail, leisure and manufacturing, he has done charity work, bookwriting, and filmmaking.

Early in his career, Chaudhary chose to pursue further education rather than join the family business.

[10] He admires Nelson Mandela, the former president of South Africa, for bringing freedom to that country,[10] and businessman J. R. D. Tata, for "building a company of rare distinction".

[7] His father, Lunkaran Das Chaudhary, continued to develop the textile business, and also established international-trading houses, and a construction company.

[7] In 1968 Lunkaran Das Chaudhary founded Arun Emporium, a retail store which was his most successful enterprise.

[18] 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".

[19] 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.

Few of the adivasi fisherfolk were rehoused whilst most languished traumatised and homeless on the streets near the rubble of their razed homes.

[30] The company has interests in hotels and resorts, wildlife and in-bound tourism, FMCG (food and beverage), real estate, cement, and financial services.

[36] 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"[37] which was released on 2015.

[39] Chaudhary told Forbes India, "When I made up my mind to write this book, I also decided that I would not manipulate it".

"[41] The Kathmandu Post wrote, "The 327-page autobiography published by Nepalaya reveals a lot about Chaudhary, who was an unusual Marwari.

"[42] Rajan Thapaliya of the HuffPost wrote, "I recommend Mr. Chaudhary's book for those looking to expand and improve their knowledge.

"[43] Nirmal Thapa wrote, "Binod Chaudhary's autobiography is a very good read for someone to understand how the entrepreneur built a billion dollar empire.

[45] He has donated more than $2.5 million to help rebuild schools and homes destroyed by the earthquake,[45] 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.

[50] The foundation has also handed over 166 shelters for victims of the earthquake to the Kumpur Village Development Committee (VDC) located in Dhading.

[51] They have also said, "Chaudhary Foundation is willing to join hands with the National Reconstruction Authority on its mission of rebuilding Nepal.

Chaudhary has faced accusations of tax evasion, financial irregularities, and alleged monopolistic practices within certain sectors.

[57] One significant controversy involves the alleged privatization of land belonging to the Bansbari Shoe Factory, a government entity.

[59] [60] 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.

[61] 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).

[64] 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.