Peggy Cherng net worth 2023: Peggy Tsiang Cherng is a Chinese-American billionaire entrepreneur who is the CEO of Panda Restaurant Group and was listed among the wealthiest Self-Made Woman in America, from another country. The foundation of her wealth is from the Cheng Family Trust.
Her wealth of knowledge in other aspects of life is unmatched, as she has a degree in Electrical Engineering, Mathematics and also Computer science but today her source of wealth is not from any of those fields of learning rather she made her fortune from her Panda Restaurant which has also produced other subsidiaries and are scattered all over America. Peggy Cherng net worth and biography will be considered in this article.
Peggy Cherng net worth Profile
Net worth: $2 billion
Full Name: Peggy Cherng
Date of Birth: 1948
Marital Status: Married
Peggy Cherng was born in 1948, in Myanmar (formerly Burma). While at Hong Kong where she was born, Peggy Cherng attended Hong Kong’s Clement Secondary School before moving to the United States Of America to further her education at the University level. She was previously enrolled in Baker University In Baldwin City of Kansas before obtaining a transfer to Oregon State University where she graduated with a Bachelor’s Degree in Applied Mathematics. She later got enrolled for her second degree at University of Missouri where she graduated with a Bachelor’s Degree in Computer science and later a PhD. In Electrical Engineering. She later relocated to Los Angeles with her husband Andrew Cherng who she met at Baker University.
After obtaining her second degree in computer science, Peggy Cherng got a job to work as an engineering expert at McDonnell Douglas where she carried out coding on battlefield simulators for the US Air Force. She later worked as a technical engineer and also software department manager at Combat Corporation which is a subsidiary of 3M.
Peggy’s husband Andrew Cherng, along with his father acquired a restaurant in 1973 and decided to set up a Chinese restaurant which is known worldwide as Panda Inn, in California. Being an expert in Computer science and operations, Peggy Cherng had to resigned from our former job to join the Cherng Family to run the Chinese restaurant Panda Inn where she worked as the Manager of Operationsin she helped build Panda Inn’s computer systems to help track feedbacks from customers and also streamline operations. These computers she built were used to keep track of inventory and re-order ingredients.
Panda Restaurant Group owns stakes in other such as Urbane Café, Just Salad, Uncle Tetsu, Pieology and Ippudo. The Cherngs also invested $214 million in a group that acquired Mandarin Oriental hotel which has been rebranded as Waldorf Astoria in Las Vegas.
Peggy Cherng Net worth
Peggy Cherng net worth 2021 is currently purged at $2 billion according to Forbes. she is among the wealthiest self-made businesswomen in America. Peggy makes most of her wealth from the Panda Express restaurants she co-founded with her husband.
Is Panda Express China owned?
That first Panda Express opened in 1983, launching a stir-fry empire. “We’re a Chinese American company,” Cherng said. Family business: Panda is one of the largest privately held restaurant chains
How rich is the owner of Panda Express?
Panda Express co-founders and CEOs Andrew and Peggy Cherng have a combined net worth of more than $3 billion. Over 25 years, they oversaw Panda Express’ growth from a single restaurant in a California mall to a 2,000-restaurant worldwide empire.
How much does it cost to buy a Panda Express franchise?
Panda Express has an initial franchise fee of up to $25,000, with a total upfront investment range of $426,700 to $2,404,000. The upfront cost of any franchise opportunity includes multiple fees.