What is Andrew & Peggy Cherng's Net Worth?
Andrew & Peggy Cherng are Chinese-born, American entrepreneurs with a combined net worth of $3.1 billion. They are the co-CEOs of Panda Express, a popular fast-casual restaurant chain that serves American-Chinese cuisine.
The Journey of Andrew & Peggy Cherng
Andrew and Peggy's journey to building a billion-dollar empire began with their shared background as immigrants. Andrew was born in China, while Peggy was born in Burma. Their paths crossed at Baker University in Baldwin, Kansas, where they were both students. Andrew pursued a Master's degree in applied mathematics at the University of Missouri, whereas Peggy earned a Ph.D. in electrical engineering.
Founding of Panda Express
Andrew's entry into the restaurant business began in 1973 when he opened a sit-down restaurant called Panda Inn with his master chef father. A decade later, Peggy decided to leave her career in software development to help Andrew grow his dining business. Their partnership led to the launch of the first Panda Express at the second-largest mall in Los Angeles County.
Together, as co-CEOs, they expanded Panda Express into the largest chain of Asian fast-food restaurants in the United States. Today, the chain boasts 1,600 locations and over 19,000 employees.
