“I must admit, we probably underestimated, as a nation, the intensity of the second wave,” he told on Friday. This statement is fortified by Nepali’s COVID-19 infection rate, which has now gone up to 34.2%.

The landlocked country’s total cases shot up to 557,124, with active cases of 118,897. Its limited healthcare resources impede the country’s pandemic response, the billionaire felt.

World Bank data showed that Nepal only had 0.749 physicians per 1,00 people. Unfortunately, only 1,545 people are undergoing treatment in ICU, and 407 infected people are on ventilators. Even the inoculations were low in Nepal, as only 29 million residents were vaccinated.

Binod commented that the first wave ravaged the country, and the impact lasted for three months. However, he felt that the second wave is far worse than the first wave. “We were counting on India,” Binod said.

India is the manufacturing hub of vaccines and exported COVID-19 supplies earlier. However, India is under the weather with burgeoning COVID-19 cases. Due to this viral blowout, India has stopped exporting the vaccine.

“We’re looking for other sources of supply,” Binod said. He added that the non-profit arm of his company has donated USD 1 million to Nepal’s pandemic response. His company has mobilized its resources to bring in ventilators and oxygen cylinders. Various nations have already donated medical supplies to Nepal during this second wave.

Also Read: Top 15 richest people (Nepali Entrepreneurs) of Nepal

General elections
An opposition member in the Parliament, Binod emphasized that the elections should be postponed until the country recovers from the pandemic, both on health and financial fronts.

With general elections due to be held in November, Nepali opposition parties are gearing up to challenge the dissolution of the parliament, which triggered this election. Chaudhary echoed this sentiment that most opposition parties are finding the timing unacceptable.

“While the house is on fire, we are still fighting (over) who’s going to sleep in the master bedroom.”

The post Nepal Probably Underestimated the Second Wave Intensity: Nepali Billionaire appeared first on Nepali Sansar.

Despite the country’s critical economic situation, several Nepalis have added billions to their fortune with their hard work and talent.

Nepal has produced several billionaires and millionaires who occupy significant positions in the list of richest persons in the world today.

Here is the list of 15 richest Nepalis in the world right now:

Top 10 Richest People in Nepal

1) Binod Chaudhary

Binod Chaudhary, the richest Nepali in the world, is the first businessman from the Himalayan country to enter the Forbes billionaire list with a net worth of USD 1.7 billion.

He started his entrepreneurial journey at the age of 19 with a nightclub called Copper Floor in Kathmandu. Now, Binod owns Nepal’s largest and most trusted brand Chaudhary Group, which is a multinational conglomerate providing consumer goods, hospitality services, financial services, education, electronics, biotech, and real estate. With entrepreneurial ventures spread across 19 countries, he runs over 80 companies.

But perhaps CG is best known for its brand of the most famous Wai Wai noodles, with presence in India, the US, Saudi Arabia, Serbia, Bangladesh, and many other countries. CG manufactures around one billion noodles packets per year, and 95% of it is the brand product Wai Wai 1-2-3 Chicken Noodles.

Binod Chowdary has claimed the 1349^th position in the Forbes’ Billionaire List 2019.

2) Shesh Ghale

Shesh Ghale is the second richest person in Nepal, with a net worth of USD 1.18 billion. Gale was the former President of the Non-resident Nepalese Association (NRNA) and is currently the CEO and Co-founder of Melbourne Institute of Technology (MIT), Australia.

Gale is the first billionaire in the global Nepalis diaspora and the second billionaire of Nepali origin. He was named the 78^th richest person in Australia in the Australian Financial Review 2019 Rich List, surpassing the previous year’s 81^st position.

Gale is well-known for his philanthropic activities during the 2015 earthquake in Nepal.

3) Jamuna Gurung

Born in Nepal and educated in Australia, Jamuna Gurung is the first woman in the list of richest persons in Nepal. With a net worth of USD 260 million, she is the 8^th richest woman in Australia.

She is currently the Executive Director and Managing Director of the Melbourne Institute of Technology (MIT), Australia, which she co-founded with her husband Shesh Ghale, the second billionaire in Nepal.

4) Upendra Mahato

Upendra Mahato, currently residing in Moscow, is considered the third richest Nepali, with a net worth estimated between USD 250 million to USD 900 million.

His wealth raised from his work in multinational business and the television factory that he founded in Russia. He has also invested in electronics, oil and gas, real estate, heavy machinery, financial services, and Ncell-Axiata of Nepal.

Mahato was the former President of the International Coordination Council (ICC) of NRNA. Currently, he is the President of the Russia-Nepal Chamber of Commerce and Industry. He is also the Honorary Consul General of Nepal in the Republic of Belarus.

5) Ajay Sumargi

Ajay Sumargi, the Chairman of Muktishree Group of Companies, is Nepal’s richest man with a net worth of USD 200 million. He is the Executive Director of the Nepal Satellite Telecom Pvt. Ltd.

Ajay is also the founding member of the telecommunication giant, the Ncell Pvt. Ltd. (formerly Spice Nepal Pvt. Ltd.).

He has invested in many business and commercial projects in Nepal, including Muktishree Hydropower, Himalayas Spring Water, Hetauda Academy, and the National College of Higher Education (NCHE).

6) Aditya Jha

Born in Janakpur, Nepal, Adithya Jha is a Canada-based entrepreneur, philanthropist, and social activist with a USD 100 million net worth. He is the CEO and President of his software company Osellus Inc., with offices in Toronto and Bangkok.

Jha is also the owner of Karma Candy, one of the largest confectionery manufacturers in Canada.

He further diversified his business portfolio by acquiring several businesses, including dgMarket International Inc., one of the largest and oldest portals for tenders and consulting opportunities worldwide.

Aditya Jha is well-known for his philanthropic works in Nepal. He has funded the digital literacy project in Nepal by donating over 100 laptops to rural village schools. He has supported Nepal Library Foundation for establishing libraries in remote areas.

7) Jiba Lamichhane

Businessman and writer Jiba Lamichhane is one of the top richest persons in Nepal, with an estimated net worth of USD 100 million. Currently, Jiba is the Managing Director of Techno Trust, the manufacturer of Elson Brand LCD TVs in Moscow, Russia.

Lamichhane is the former President of the ICC of NRNA and also one of the founders of NRNA. He is also known for his philanthropic activities. Jiba received the “Prawal Janasewshree Award,” one of the highest states of honor in Nepal, for his contribution to Nepal and Nepali diaspora.

Lmaichhane has published a travel memoir ‘Sarsarti Sansaar’.

8) Balram Chainrai

Balram Chainrai, also called Balu, is one of the leading businessmen in Hong Kong and the founder of the Chainrai Group of Companies. He is also the Managing Director of Hornington Enterprises Limited.

Born in Nepal, educated in Hong Kong, Balram speaks several languages and is fluent in English, Cantonese, and Sindhi.

Balram’s core company, Hornington, is involved in manufacturing electronic goods, home appliances, toys, distributing computers and related accessories, and trade finance activities.

Directed by his dynamic leadership, Hornington now has operations in several countries in Asia, Middle East, Ukraine, Europe, and Russia.

He is also a philanthropist and involved in many charitable activities worldwide. Balram is a member of the Rotary International and several other charitable trusts.

He was elected as the Vice-Chairman of the Indian Chamber of Commerce of Hong Kong in 2001, and subsequently became the President of the Chamber in 2007.

Balu has been investing in real estate, hotels, the entertainment industry, solar power projects, and football clubs.

His hard work and keen business acumen made him one of Nepal’s richest man, with a net worth of USD 70 million.

9) Rajendra Kumar Khetan

Born in Kathmandu, Rajendra Kumar Khetan is deemed a successful industrialist with his involvement in various industries, including mining, consumer goods like beverages and foodstuff, insurance, banking/financial services, telecommunications, IT, real estate, and energy.

Khetan, the eldest son of the renowned industrialist late Mohan Gopal Khetan, is now partly the sole owner of a 170-years old family-owned business that parted with Khetan Group.

He is also a recipient of Honorific orders. He is the Senate Member of Kathmandu University, Honorary Consul of Portugal and President of Nepal Britain Chambers of Commerce and Industry & Alliance Française Kathmandu.

He was Vice President of FNCCI & Chairman of Laxmi Bank among the other 12 different identities.

With a net worth of around USD 150-500 million, Rajendra bagged a prominent position in the list of richest Nepalese.

10) Gyanendra Shah

Gyanendra Bir Bikram Shah Dev is the former king of Nepal from 2001 to 2008. He was crowned as the king of Nepal in 2001 after the massacre of King Birendra. Later, he was dethroned in 2008 when the Constituent Assembly declared the nation as the Federal Democratic Republic of Nepal.

Even after the then Nepali Government nationalized all the properties he inherited from his late brother King Birendra, Gyanendra retained all of his personal wealth before his enthronement.

He now holds a 40% stake in Soaltee Hotel, a 54% stake in Himalayan Goodricke, a 39% stake in Surya Nepal Tobacco, and significant stakes in Annapurna Hotels.

The former king has invested in large tea plantations in Itahari, Himal International Power Corporation, Jyoti spinning mill in Birgunj, Laxmi Rosin Turpentine Pvt Ltd, Narayanghat brewery, Sirpadi Trading Pvt Ltd, Bhotekoshi power company, Gorkha Lawrie Pvt Ltd, and Amaravati Pvt Ltd.

King Gyanendra Bir Bikram Shah Dev’s total net worth is estimated to be around USD 58 Million, making him one of the richest people in Nepal.

Other Notable Richest Nepalese Include:

11) Rajya Laxmi Golcha (Director Hulas Wire Industries ltd, Constituent Assembly Member)

12) Bikram Pandey (Former Land Reform Minister, Owner of Kalika Group)

13) Ichhchha Raj Tamang (Chairman of Nepal Land and Housing Developers Association)

14) Birendra Mahato (Former CA Member, Director of Machhapuchchhre Bank)

15) Dr. Ram Saran Mahat (Former Finance Minister)

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Renowned magazine Forbes mentioned Nepal’s billionaire Binod Chaudhary’s name in its 2019 publication.

The Forbes’ Billionaire List 2019 publication made public on March 06, 2019 said the net worth of Chaudhary has increased USD 200 million in the last one year.

According to Forbes, the total assets of Chaudhary equals to USD 1.7 billion as of yesterday, up from USD 1.5 billion in 2018.

The increase in his net worth made Chaudhary the world’s 1349th richest person.

This is not the first time that Chaudhary was in Forbes billionaire list. He made his debut to the list in 2013.

Chaudhary is the chairman of Chaudhary Group, which has its wings spread across food, electronics, beverages and hotel businesses.

Chaudhary also holds a majority stake in Nabil Bank.

Chaudhary is also the owner of CG Foods, the maker of renowned Wai Wai noodles with wide presence in India, Serbia, Saudi Arabia and Bangladesh.

As per Forbes, Chaudhary Group’s hotel business consists of 29 owned and 70 managed properties, alongside a number of luxury hotels with India’s Taj hotel chain.

Also Read: Richest Nepalese – List of Top 10 Richest People

The post Forbes Billionaire List 2019: Nepal’s Chaudhary is World’s 1349th Richest Person appeared first on Nepali Sansar.

The Chaudhary family traces its roots to India. His grandfather Bhuramal Chaudhary was a textile merchant who migrated from the state of Rajasthan to Nepal in search of greener pastures.

After his demise, his son Lunkaran Chaudhary expanded his business and set up Arun Emporium, Nepal’s first department store. Subsequently, due to his ill health, Binod Chaudhary was forced to take up the family business at the age of 18.

Wai Wai Noodles

The high demand for Thai noodles among the Nepalese led Binod to take up the manufacture of noodles. He called his noodles Wai Wai, meaning “fast, fast” in Thai. Within a short period, Wai Wai noodles became the most popular brand of noodles in Nepal.

He gradually expanded his business overseas and setup factories of CG Foods in India, Bangladesh, Saudi Arabia and Serbia.

Wai Wai noodles are sold in over 35 countries today and have earned Binod a 2% stake in the world’s instant noodles market.

Cinnovation Group

Binod Chaudhary set up the Cinnovation Group in Singapore as a multi-dimensional conglomerate offering world-class products and services. This group now includes over 48 companies and has vibrant offices in a number of countries.

Cinnovation and CG made it to the Forbes list in 2013 as the first Nepalese group to enter the Billion-dollar club. With a personal net worth of over USD 1.3 billion, Binod is Nepal’s sole billionaire.

“Making it Big”

Binod says that entrepreneurs need not necessarily come from business schools and that there is a lot one can learn outside the classroom. He attributes his success to self-discipline and is very appreciative of the Japanese ethics of teamwork, meticulousness and never keeping work pending.

Also Read: Top 15 richest people (Nepali Entrepreneurs) of Nepal

He advises aspiring entrepreneurs to follow their dreams and take advantage of today’s technology in carving a niche for themselves.

Binod Chaudhary’s autobiography “Making it Big” has been a bestseller in Nepal and is a great inspiration for anyone looking to succeed in life.

The post “Noodle King” Binod Chaudhary – Nepal’s First Billionaire appeared first on Nepali Sansar.