Andrew & Peggy Cherng
Overview
- Source of Wealth
- restaurants
- Industry
- Food & Beverage
- Residence
- Las Vegas, Nevada
- Education
- University of Missouri (Master of Arts)University of Missouri (Ph.D)
- Marital Status
- Married
Assets
- Golden Eagle Retail Group Ltd.119,233,000 shares @ --3308-HK
Biography
Andrew and Peggy Cherng are cofounders of the $3.5 billion (sales) Chinese fast food chain, Panda Express, which has over 2,200 locations.
The Cherngs also run famed ramen house, Ippudo, in Berkeley, CA and have investments in chains that sell everything from pizza, salad and cheesecake.
Peggy came to the U.S. from Hong Kong in 1967 to attend Baker University, where she met husband Andrew as freshmen.
The couple started Panda Express in 1982 in the second largest mall in Los Angeles County.
Today the chain stretches from its home base in the U.S to Canada, Mexico, Dubai and South Korea.
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 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.
Peggy formerly worked on software development at McDonnell Douglas and Comtal-3M, where she coded battlefield simulators for the U.S. Navy.