Rank #612
Andrew Cherng
Net worth $6.5B
Fast food · United States
- Born
- May 02, 1947
- Age
- 79
- Source
- Fast food
- Residence
- Las Vegas, Nevada
- Citizenship
- United States
- Marital status
- Married
- Children
- 3
- Education
Net worth over time
Biography
- Andrew Cherng cofounded Chinese fast-food chain Panda Express, alongside his wife Peggy Cherng.
- Born in China, his family moved to Taiwan and Japan before he immigrated to the U.S., where he met Peggy as a freshman at Baker University in Kansas.
- The couple launched Panda Express in 1983 in a Glendale, California mall.
- Today the 2,500-location chain stretches from the U.S. to Canada, Mexico, Dubai and South Korea. The Cherngs are co-CEOs.
- In 2018, the couple invested in a group that bought the Mandarin Oriental hotel, now the Waldorf Astoria, in Las Vegas for $214 million.
- Andrew Cherng has a master's degree in applied mathematics; he first got into the food business with his father, opening a sit-down restaurant in Pasadena in 1973.
Financial assets
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