Binod Chaudhary falls by 162 places despite increased net worth

Kathmandu March 6- In recently published 'Forbes billionaire list' despite increased net worth, Nepal's only billionaire listed in Forbes, Binod Chaudhary of CG group has fall down by 162 places to be at 1577. Binod Chaudhary appeared first in Forbes' Billionaire's list in 2013. In 2015, his net worth was $1.3 billion which has shrunk this year by $ 1.15 billion.  

Though Chaudhary's net worth has increased by $100 million, his ranking has decline this year. It is assumed that Chaudhary  could not match up increasing trend of other billionaire's pace due to which he fell by 162 places.

Binod Chaudhary who controls the Cinnovation/CG Group remains Nepal's sole billionaire. His biggest asset is a controlling stake in Nepal's Nabil Bank, but CG's portfolio also includes noodles, electronics, beer and cement. He's expanding CG Foods with new factories in Serbia, Saudia Arabia and Bangladesh. The company is also building a food park in Rajasthan.

CG added to its hotel assets with properties in Sri Lanka, Rwanda and a new Taj Safari lodge in Nepal's Chitwan national park in partnership with India's Taj hotel chain. Chaudhary pledged $2.5 million to build schools and houses after last year's devastating earthquake in Nepal.