Nepal’s only billionaire, Binod Chaudhary, has been elected vice-president of the Nepali Congress at the party’s 15th general convention….reports Asian Lite News Desk
Nepal’s only billionaire, Binod Chaudhary, has been elected one of the vice-presidents of the Nepali Congress, strengthening his position within the opposition party despite losing the parliamentary election held on March 5. Chaudhary secured 1,745 votes under the inclusive quota at the party’s 15th general convention, defeating his closest rival, Jeevan Pariyar, who received 1,658 votes.
According to the Nepali Congress Central Election Committee, the 70-year-old businessman’s election marks another step in his political career, which began in 2008 when he entered Nepal’s Constituent Assembly as a representative of the Communist Party of Nepal (Unified Marxist-Leninist), or CPN-UML.
Chaudhary, the only Nepali listed among the world’s billionaires by Forbes magazine, had an estimated net worth of $2.1 billion in 2026. His business interests span several sectors, including consumer goods, banking and hospitality.
He holds controlling interests in businesses associated with a popular instant noodles brand and owns hospitality assets internationally. His portfolio also includes a bank in Nepal and luxury hotels associated with India’s Taj hotel chain, according to Forbes.
His estimated net worth stood at $1.3 billion in 2017 before rising to $2.1 billion in 2026, although his wealth declined in 2020 and 2021 amid the Covid-19 pandemic.
Following his election as vice-president, Chaudhary thanked the delegates who voted for him. He had earlier said he was contesting the position with the aim of establishing the Nepali Congress as a political force capable of leading Nepal’s economic transformation.
The party has played a significant role in Nepal’s democratic development and remains a key opposition force following the rise of the Rastriya Swatantra Party (RSP), which emerged as the dominant party in the lower house after the latest parliamentary election.
Chaudhary contested the March 5 election from Constituency No. 1 in Nawalparasi West district but lost to Bikram Khanal of the RSP. The election followed the Gen-Z movement of 2025, which brought major political changes to the country.
Despite the electoral setback, Chaudhary has continued to consolidate his position within the Nepali Congress, moving from central committee membership to one of the party’s senior leadership positions.
His political journey has involved several changes in party affiliation and roles. In 2008, he entered the Constituent Assembly through the proportional-representation list of the CPN-UML following the first Constituent Assembly election.
In 2017, he formally joined the Nepali Congress and became a lawmaker under its proportional-representation quota. He subsequently secured a place on the party’s central committee through inclusive representation.
At the Nepali Congress’s 14th general convention in 2021, Chaudhary was elected a central committee member under the Madhesi quota, receiving 2,206 votes.
He later won a direct parliamentary seat in the 2022 general election, representing the Nepali Congress in Constituency No. 1 of Nawalparasi West district.
Beyond politics and business, Chaudhary has held leadership positions in Nepal’s private sector. He previously headed the Federation of Nepalese Chambers of Commerce and Industry and the Confederation of Nepalese Industries, two major business organisations in the country.
His election as vice-president places one of Nepal’s most prominent business figures in a senior position within the Nepali Congress as the party seeks to strengthen its leadership and political standing following its electoral setbacks.
