- 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.
- They continue to own and operate virtually every Panda Express restaurant themselves.
In 25 years, Panda Express has transformed from a single restaurant in a southern California mall to a 2,000-location empire around the world.
The masterminds behind the American Chinese behemoth are Andrew and Peggy Cherng, the married couple that founded the company in the early 1980s and continues to own and operate every Panda Express themselves.
Today, the Cherngs have amassed a combined net worth of $3.3 billion, making them two of the richest people in America.
But the Cherngs weren't always on track to build a fast-food empire. Andrew earned a master's degree in mathematics before he opened his first restaurant, while Peggy earned a Ph.D. in electrical engineering, eventually using her expertise to pioneer the American Chinese restaurant industry.
Read on to see how the Cherngs made their fortune in America:
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Andrew and Peggy Cherng are the cofounders and CEOs of Panda Express, the American Chinese restaurant with nearly 2,000 locations worldwide. According to Forbes, the Cherngs have a combined net worth of $3.3 billion.
Source: Forbes
The Cherngs own and operate virtually every Panda Express location themselves — they don't franchise them out to other owners, making Panda Express a rarity among restaurant chains of its size.
Source: Business Insider
Andrew Cherng was born in Yangzhou, China. His father was a chef, but Andrew didn't enter the restaurant industry at first — he came to the US to study math, eventually earning a master's degree in applied mathematics from the University of Missouri.
Source: The New York Times
See the rest of the story at Business Insider
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