Chaudhary, a Nepali Congress lawmaker in the House of Representatives controls CG Corp Global and is Nepal’s sole billionaire, according to Forbes, a US-based media company that profiles and lists the world’s billionaires. "His biggest asset is a controlling stake in Nabil Bank, one of the largest private sector banks in Nepal and CG Foods," states Forbes.
Chaudhary has expanded CG Foods, the makers of popular Wai Wai instant noodles, to a number of countries including India, Serbia, Egypt, and Bangladesh. Chaudhary also has a strong presence in the hospitality sector. According to Forbes, CG's hotel assets consist of 143 owned and managed properties, including a string of luxury hotels with India's Taj hotel chain. The group's other business verticals include trading, electronics, telecom, hydropower, education, cement, and real estate. According to Forbes, the number of billionaires around the globe as well as their wealth has declined for the second straight year. The number of billionaires has dropped to 2,640 in 2023 from 2,668 in 2022 while total billionaire wealth has dropped by $500 billion to $12.2 trillion. “Nearly half the planet’s billionaires are poorer than they were a year ago,” says Forbes. “A total of 254 people have lost their billionaire status altogether.” The United States tops the Forbes list with 735 billionaires, followed by China with 495, India with 169, and Germany with 126.
