BIO:
- Name: Peggy Cherng
- Title/Position: Co-Founder, Co-Chair, and Co-CEO of Panda Restaurant Group
- Industry: Fast Food, Hospitality, Technology
- Location: Las Vegas, Nevada, USA
- Age: 71 - (29th of January 1954)
- Net Worth: $3.6 billion (2025)
Peggy Cherng’s Story
Peggy Cherng‘s journey from Myanmar to becoming one of America’s most successful self-made women is a testament to resilience and innovation. Born in Mawlamyine, British Burma (now Myanmar), and raised in Hong Kong, she pursued higher education in the United States, earning a Ph.D. in electrical engineering from the University of Missouri.
After a successful career in engineering, including roles at McDonnell Douglas and 3M, Peggy joined her husband, Andrew Cherng, in the restaurant business. In 1983, they co-founded Panda Express, transforming it into a global fast-food empire with over 2,400 locations.
Peggy’s technical expertise was instrumental in developing Panda’s operational systems, including early adoption of point-of-sale technology, which streamlined operations and enhanced customer experience.
Career Highlights
Key Milestones:
- 1982: Joined Panda Restaurant Group, applying her engineering background to develop operational systems.
- 1983: Co-founded Panda Express, opening the first location in Glendale, California.
- 1997: Became President of Panda Restaurant Group.
- 2004: Appointed Co-Chair and Co-CEO of Panda Restaurant Group.
Achievements:
- Business Ventures: Expanded Panda Express into the largest Asian dining concept in the U.S., with over 2,400 locations.
- Philanthropy: Donated $30 million to Caltech, leading to the establishment of the Andrew and Peggy Cherng Department of Medical Engineering.
- Awards: Consistently ranked among America’s richest self-made women by Forbes.
Peggy Cherng Net Worth
As of 2025, Peggy Cherng’s net worth is estimated at $3.6 billion, primarily derived from her ownership stake in Panda Restaurant Group. The company’s success is attributed to its innovative approach to fast food, operational efficiency, and strategic expansion.
Peggy Cherng in the News
- 2023: The Cherngs donated $100 million to City of Hope to advance cancer care integrating Eastern and Western healing methods.
- 2024: Forbes ranked Peggy Cherng #13 on America’s Self-Made Women list.
- “We are not in the food business. We are in the people business.”
- “Our hope is for all of our people to grow professionally and personally and achieve their highest potential.”
FAQs: Most Asked Questions About Peggy Cherng
How rich is the Cherng family?
As of 2025, Andrew and Peggy Cherng’s combined net worth is estimated at $3.6 billion, making them one of America’s wealthiest self-made couples.
How much is the CEO of Panda Express worth?
Peggy Cherng, Co-CEO of Panda Express, has a net worth of approximately $3.6 billion as of 2025.
Where does the Cherng family live?
The Cherng family resides in Las Vegas, Nevada.
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