Opening and running a restaurant has always been a profitable business idea. But when you put minds like Peggy Cherng into the business, its profitability is multiplied. Peggy is a co-CEO of Panda Express which is a famous Chinese food restaurant chain. She’s also an electrical engineer known for making one of the first points of sales systems.
Having such an interesting professional career makes people wonder about Peggy Cherng net worth. In this article, I am going to discuss her net worth and how she was able to build a huge business empire. Let’s start.
Who is Peggy Cherng?
Peggy Cherng is listed in the top female entrepreneurs who is running the Panda Express food chain with her husband. This is a huge business running at multiple locations across the United States. Cherng is an electrical engineer who has worked in different places like 3M. However, her main business now is running the food restaurant chain with her husband Andrew Cherng.
- Full Name: Peggy Tsiang Cherng
- Date Of Birth: December 18, 1947
- Birth Place: Myanmar
- Nationality: American
- Marital Status: Married
- Occupation: Businesswoman
- Zodiac Sign: Sagittarius
- Ethnicity: Chinese American
- Children: 3
Peggy Cherng Net Worth:
According to Forbes, Peggy Cherng net worth is estimated to be around $3.9 billion. Her net worth is usually combined with Andrew’s since the couple is working on their business together. Panda Express is a huge business that has an estimated sales value of around $5.9 billion.
It is included in the list of some of the best food networks including Chick-fil-A, and Raising Cane’s. Having this huge net worth makes Peggy one of the very few self-made billionaires across the world. Cherng’s Panda Express has seen exponential growth in the recent few years. It made around $2.4 million in revenue per store recently.
Also, the company has added around 800 more stores and now they have $5.9 billion in sales. To get things in perspective, the sales value of this business was $2.2 billion in 2014. So, it has doubled its sales within a decade. Some reports are estimating the value to be $10 billion in the upcoming four years.
Peggy Cherng Biography:
Peggy Cherng was born in Burma on December 18, 1947. She’s now 76 years old and is residing in Las Vegas, Nevada.
Early Life and Education:
Although Cherng was born in British Burma, she was raised in Hong Kong. However, she moved to the United States and started studying there. She received a degree in applied mathematics from Oregon State University. Later on, she got a master’s degree in computer science and did a PhD in electrical engineering from the University of Missouri. Such a diverse education helped Peggy get all the skills she needed to have a successful career.
Career Highlights:
After finishing her studies, Cherng started focusing on building her career. However, building and starting a food business wasn’t her priority. Instead, Cherng focused on getting and doing a job in different companies. As a computer geek, she got jobs in companies like 3M and McDonnell Douglas where she was making battlefield simulations for the Navy. However, it wasn’t the place she was going to spend the rest of her life.
Beginning with Panda Express:
Peggy decided to join her husband’s food company and make it grow. So, she joined Panda Express in 1982 as a manager.
As a talented woman, she helped her husband grow the business to a great extent. She had experience with the machines and software that Cherng applied in the business as well. Cherng was one of the very first persons to create point-of-sale systems and use them in their restaurants.
These systems help businesses like restaurants take orders and deal with payment procedures. Automation helped Panda Express a lot and it soon grew into a multibillion-dollar company. After opening branches in the United States, Peggy became the president of the chain and then went through some other roles like being a co-CEO.
Personal Life:
Peggy Cherng has been married to Andrew Cherng since 1975. She met Andrew in the United States and the couple is still together. They have three daughters and the couple is working on several philanthropy projects as well.
Conclusion:
Peggy Cherng net worth is estimated to be around $3.9 billion. She’s a co-CEO of the Panda Express food business. Peggy is a talented businesswoman with multiple degrees in the field related to computers. She’s worked for making battlefield simulations and also made a POS in the early days. After spending a few years doing jobs, she joined her husband in the business and grew it into one of the largest food networks in the United States.
