#595

Andrew Cherng

United States 79 years old Self-Made

Overview

Source of Wealth
Fast food
Residence
Las Vegas, Nevada
Marital Status
Married
Children
3

Assets

  • East West Bancorp
    0 shares @ -
    -
    EWBC-US
  • Golden Eagle Retail Group Ltd.
    0 shares @ -
    -
    3308-HK

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.

About

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.