Nepal's Billionaire Binod Chaudhary Faces Major Election Loss
Synopsis
In an unexpected outcome, Binod Chaudhary, Nepal's only billionaire and Nepali Congress candidate, lost his parliamentary seat to Rastriya Swatantra Party's Bikram Khanal. This result reflects a broader trend of traditional party defeats amidst a surge in support for the RSP.
Key Takeaways
Binod Chaudhary lost to Bikram Khanal in the recent elections.
The defeat marks a shift in Nepal's political landscape.
The Rastriya Swatantra Party performed exceptionally well.
Chaudhary's business interests include Nabil Bank and CG Foods .
This election indicates a growing demand for change among voters.
Kathmandu, March 8 (NationPress) In a stunning turn of events, Nepal's sole billionaire, Binod Chaudhary, who represented the Nepali Congress, faced a significant setback during the recent parliamentary elections. He was defeated by Bikram Khanal of the Rastriya Swatantra Party in the Nawalparasi West-1 constituency. Khanal garnered an impressive 45,241 votes, while Chaudhary managed only 9,502 votes, as reported by the Election Commission of Nepal.
This defeat adds Chaudhary to a growing list of candidates from established political parties—such as the Nepali Congress, Communist Party of Nepal (Unified Marxist-Leninist) (CPN-UML), and Nepal Communist Party—who have struggled in this year's elections, as the RSP continues to dominate.
Many RSP candidates, particularly those with business backgrounds, are emerging victorious, while traditional party representatives face challenges at the polls.
Chaudhary’s loss is particularly notable as it coincides with the defeats of his party’s president, Gagan Thapa, and General Secretary Pradeep Poudel, among other prominent candidates, amidst the RSP's sweeping success.
As of now, the Nepali Congress has secured 15 seats and is leading in two out of 165 constituencies. In contrast, the RSP has claimed victory in 103 seats and leads in 21 seats, according to the election authority.
Chaudhary, who has been recognized by Forbes as Nepal's only billionaire for over a decade, was elected from the same constituency in the 2022 elections as a member of the Nepali Congress. He also served in the House of Representatives after being elected through the proportional representation system in 2017.
Forbes estimates Chaudhary's net worth at $2.1 billion as of March 2026. He oversees CG Corp Global, which includes significant assets such as a controlling interest in Nabil Bank and CG Foods, known for producing the popular Wai Wai noodles. The company has manufacturing facilities in India, Serbia, and Bangladesh, with a new factory underway in Egypt.
CG Corp's hotel portfolio comprises 143 properties, including luxury hotels managed in collaboration with India's Taj hotel chain, according to reports from Forbes.
Point of View
The defeat of Binod Chaudhary underscores a significant shift in Nepal's electoral landscape. The success of the Rastriya Swatantra Party suggests a demand for change among voters, challenging the dominance of established political entities.
NationPress
2 May 2026
Frequently Asked Questions
Who is Binod Chaudhary?
Binod Chaudhary is Nepal's only billionaire and a prominent businessman, known for heading CG Corp Global and producing the popular Wai Wai noodles.
What happened in the recent parliamentary elections in Nepal?
In the latest elections, Binod Chaudhary lost his seat to Bikram Khanal from the Rastriya Swatantra Party, highlighting a trend of traditional party losses.
What is the current political situation in Nepal?
The Rastriya Swatantra Party is currently leading in the elections, while traditional parties like the Nepali Congress are facing significant setbacks.
How many seats has the RSP won?
As of the latest reports, the Rastriya Swatantra Party has secured 103 seats and is leading in 21 seats out of 165 constituencies.
What are Chaudhary's business interests?
Binod Chaudhary controls CG Corp Global, which includes interests in banking and food production, and has significant hotel properties.
