Peggy Cherng

$7.20 B

Ranked #512 in World

About Peggy Cherng

Peggy Tsiang Cherng, an American billionaire and a pioneering figure in the restaurant industry, co-founded Panda Express and serves as the co-CEO of Panda Restaurant Group. Born in Myanmar around 1947/1948 and later raised in Hong Kong, she pursued an extensive education in the United States, culminating in a PhD in electrical engineering. Beginning her career in engineering, Peggy Cherng transitioned to the family business in 1982, significantly enhancing its operations through her expertise in computer systems. Under her leadership, Panda Express opened its first location in 1983 in Glendale Galleria II, California, and has since expanded to over 2,200 outlets by 2019, with the company maintaining ownership of all locations to ensure quality and consistency. Her net worth, estimated at $1.7 billion as of 2019, ranks her as America's second wealthiest self-made woman born outside the United States. The Cherngs are also noted for their philanthropic efforts, including substantial donations to several educational institutions. Peggy Cherng's remarkable journey from immigrant to industry titan underscores her pivotal role in the global culinary landscape.

Born

December 18, 1947 in Mawlamyine, British Burma

Age

78 years

Source Of Wealth

Fast Food

Industries

Food & Beverage

Citizenship

United States

Residence

Las Vegas, Nevada

Education

Bachelor of Arts/Science, Oregon State University; Master of Science, University of Missouri; Ph.D, University of Missouri

Spouse

Andrew Cherng (Married: 1975)

Children

Peggy Tsiang Cherng, an American billionaire businesswoman, co-founder of Panda Express, and co-CEO of Panda Restaurant Group, was born in 1947 or 1948 in Myanmar. She grew up in Hong Kong and attended Clementi Secondary School, graduating in 1966.

Peggy Cherng: Family

Peggy Cherng met her husband, Andrew Cherng, while studying at Baker University in Kansas. They have three daughters, all of whom are involved in the family businesses.

Peggy Cherng: Career Highlights

After graduating from Oregon State University with a bachelor's degree in applied mathematics in 1970, Peggy Cherng earned a master's degree in computer science and a PhD in electrical engineering from the University of Missouri. She worked as an engineering specialist at McDonnell Douglas and then as a technical engineer and software department manager at Comtal Corporation before joining Panda Restaurant Group in 1982 as Operations Manager.

At Panda Restaurant Group, Peggy Cherng played a crucial role in building the company's computer systems to track customer feedback and streamline operations. She also oversaw the opening of the first Panda Express restaurant in 1983 at the Glendale Galleria II mall in California.

Peggy Cherng became president of Panda Restaurant Group in 1997 and served as CEO and president from 1997 to 2003. Since 2004, she has been the co-chair and co-CEO of the company.

Peggy Cherng: Companies

Panda Restaurant Group, co-founded by Peggy Cherng and her husband Andrew Cherng, owns and operates the Panda Express restaurant chain. The company also has stakes in other restaurant franchises, including Urbane Cafe, Just Salad, Uncle Tetsu, Pieology, and Ippudo.

Peggy Cherng: Major Achievements

Under Peggy Cherng's leadership, Panda Express has grown into a highly successful restaurant chain with over 2,200 locations worldwide. As of 2018, the Cherngs still own and operate all Panda Express restaurants without franchising, except in a few cases.

Peggy Cherng's contributions to the restaurant industry have been widely recognized.

She was named one of the "50 Most Powerful Women in Business" by Fortune magazine in 2015 and was inducted into the National Restaurant Association's Hall of Fame in 2017.

Peggy Cherng: Awards & Achievements

Peggy Cherng has received numerous awards and accolades for her achievements in business and philanthropy. Some of her notable awards include:

Ellis Island Medal of Honor (2014)
James Beard Foundation Humanitarian of the Year Award (2016)
Forbes' list of America's Richest Self-Made Women (2019)

Peggy Cherng: Personal Life & Legacy

Peggy Cherng is married to Andrew Cherng, and they have three daughters. The Cherngs are known for their philanthropic contributions, which include donations to educational institutions such as California State Polytechnic University, Pomona, California Institute of Technology, and the University of Missouri.

In 2018, the Cherng Family Trust purchased the former Mandarin Oriental hotel in Las Vegas and rebranded it as a Waldorf Astoria. As of November 2019, the Cherngs reside in Henderson, Nevada.

Peggy Cherng: Trivia

Peggy Cherng is an avid art collector and has a particular interest in Chinese contemporary art. She is also a fan of classical music and enjoys playing the piano.

Wealth History

Timeline

1947/1948

Peggy Tsiang Cherng was born in Myanmar and grew up in Hong Kong.

1966

Peggy Tsiang Cherng graduated from Clementi Secondary School in Hong Kong.

1970

Peggy Tsiang Cherng earned a bachelor's degree in applied mathematics from Oregon State University.

1982

Peggy Tsiang Cherng joined Panda Restaurant Group as Operations Manager.

1983

Peggy Tsiang Cherng opened the first Panda Express restaurant at the Glendale Galleria II mall in California.

1997

Peggy Tsiang Cherng became president of Panda Restaurant Group.

2003

Peggy Tsiang Cherng stepped down as president of Panda Restaurant Group.

2004

Peggy Tsiang Cherng became co-chair and co-CEO of Panda Restaurant Group.

2018

The Cherng Family Trust purchased the former Mandarin Oriental hotel in Las Vegas and rebranded it as a Waldorf Astoria.

2019

Panda Express had over 2,200 locations.

Peggy Cherng : FAQs

What is Peggy Cherng's current net worth?

Peggy Cherng's current net worth is $7.20 billion.

What is Peggy Cherng's current global rank among billionaires?

Peggy Cherng holds the 512th position globally among billionaires.

What is Peggy Cherng's current ranking within the United States?

Peggy Cherng holds the 202nd position in United States.

What was the change in Peggy Cherng's net worth compared to the previous year?

Peggy Cherng's net worth decreased by 206.58 million dollars compared to the previous year 2025, when her net worth was 7.40 billion dollars.

What are Peggy Cherng's main sources of wealth?

Peggy Cherng's main source of income comes from Fast Food.

In which industry does Peggy Cherng primarily operate?

Peggy Cherng is primarily involved in the Food & Beverage industry.

What is Peggy Cherng educational background?

Peggy Cherng holds a Bachelor of Arts/Science from Oregon State University, a Master of Science from the University of Missouri and a Ph.D from the University of Missouri.

How old is Peggy Cherng?

Peggy Cherng is 78 years old.

How many children does Peggy Cherng have?

Peggy Cherng has 3 children.

Who is Peggy Tsiang Cherng and what is her role at Panda Express?

Peggy Tsiang Cherng is an American billionaire businesswoman who co-founded Panda Express. She is the co-CEO of Panda Restaurant Group, the parent company of Panda Express.

What significant milestones has Peggy Cherng achieved with Panda Express?

Peggy Cherng was instrumental in opening the first Panda Express in 1983 in California, became president of Panda Restaurant Group in 1997, and has co-led the company to expand to over 2,200 locations as of 2019.

How has Peggy Cherng's wealth been estimated and used?

As of 2019, Peggy Cherng's net worth was estimated at $1.7 billion, making her America's second richest self-made woman born outside the US. She invests through the Cherng Family Trust and makes philanthropic contributions to institutions like California State Polytechnic University and Caltech.

What are some philanthropic contributions made by Peggy Cherng?

Peggy Cherng and her family have made significant donations to educational institutions, including California State Polytechnic University, Pomona, California Institute of Technology, and the University of Missouri, showcasing her commitment to giving back to the community.