Meet the Billionaire Couple Behind Panda Express, Who Built a $3 Billion Fortune Selling 90 Million Pounds of Orange Chicken Each Year
Over the course of 45 years, college sweethearts Andrew and Peggy Cherng have grown Panda Express from a single restaurant in a southern California mall to a 2,000-location empire around the world.
- The Cherngs own and operate virtually every Panda Express location themselves — they don’t franchise them out to other owners, making Panda Express a rarity among restaurant chains of its size.
- The couple also owns a highly rated ramen restaurant with locations in New York City and Berkeley, California, called Ippudo.
- In 1983, Peggy Cherng joined Andrew in the restaurant business, and the two opened the first Panda Express in a mall in Glendale, California.