A ndrew Cherng, along with his wife Peggy Cherng, is the co-founder and co-CEO of Panda Restaurant Group, the parent company of the ubiquitous American-Chinese fast-food chain, Panda Express. Born in Yangzhou, China, and raised in Taiwan and Japan, Andrew immigrated to the United States to study mathematics. In 1973, he and his father, a master chef, opened their first full-service restaurant, Panda Inn, in Pasadena, California.
The major breakthrough came in 1983 when, at the suggestion of a local developer, Andrew and Peggy opened the first fast-food version of their restaurant, Panda Express, in a shopping mall. The concept took off, and they expanded rapidly across the country and later, internationally. The couple built their privately held empire with a focus on consistent quality, operational efficiency, and a strong corporate culture based on employee development. Today, Panda Express is the largest Asian-segment restaurant chain in the United States, and the Cherngs are among the wealthiest self-made couples in the country.
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Born in Yangzhou, China, Andrew Cherng is the self-made founder and co-CEO of the Panda Restaurant Group, the massive enterprise behind the iconic Panda Express chain. His formative years were spent across East Asia, growing up in Taiwan and Japan, which provided him with a broad cultural perspective. He is the son of Ming Tsai Cherng, a master chef trained in Japan, a culinary background that proved central to his future success.
Cherng came to the United States in 1966 to pursue higher education, successfully bridging the arts of cuisine and academia. He earned a degree in Mathematics from Baker University in Kansas and later a Master's degree in Applied Mathematics from the University of Missouri. Throughout his studies, he worked as a waiter in restaurants, gaining a crucial, hands-on appreciation for the dynamics of the American restaurant business and the value of customer service. It was in university that he met his future wife and lifelong business partner, Peggy Cherng, also an international student, setting the stage for their joint empire.
Andrew Cherng’s entrepreneurial journey began in 1973 when he and his father, Ming Tsai Cherng, opened their first sit-down Chinese restaurant, Panda Inn, in Pasadena, California, using family funds and a Small Business Administration loan. The restaurant quickly became a local success, demonstrating the Cherng family's ability to blend authentic Chinese cuisine with American expectations.
The revolutionary pivot occurred in 1983. A developer and patron of Panda Inn, who was building the Glendale Galleria mall in Los Angeles County, suggested they open a smaller, fast-casual concept in the food court. Andrew and Peggy Cherng seized the opportunity, opening the first Panda Express. The chain pioneered the high-volume, quick-service format for American Chinese food, popularizing dishes like the famous Orange Chicken and Honey Walnut Shrimp. Under the joint leadership of Andrew and Peggy Cherng, the Panda Restaurant Group focused on culture, service, and efficient expansion, growing to over 2,200 locations worldwide and remaining one of the largest family-owned fast-food chains in the U.S.
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Arrives in the United States to study mathematics.
Opens the first full-service restaurant, Panda Inn, with his father in Pasadena.
Opens the first Panda Express fast-casual restaurant in the Glendale Galleria mall.
Establishes Panda Cares, the philanthropic arm of the company.
Panda Express expands to 100 restaurants with the opening of the UCLA outlet.
Panda Express expands globally (Canada, Mexico, Asia).
Continues to serve as Co-CEO alongside his wife, Peggy Cherng.
Andrew Cherng's wealth is rooted in the private, family-owned Panda Restaurant Group, which dominates the American fast-casual Chinese dining market and has diversified into other food concepts.
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Andrew Cherng and his wife, Peggy, are major philanthropists through Panda Cares, the company's philanthropic arm established in 1999. Their giving is extensive and deeply rooted in supporting children's health, education, and disaster relief.
Panda Cares has donated over $140 million, focusing on providing health services to uninsured children, improving college readiness programs, and offering immediate relief to victims of natural disasters (like the California wildfires). Cherng emphasizes that their philanthropy is tied to the company's philosophy of 'giving well for the family' and 'taking care of other people,' reflecting a belief that business success must be leveraged to create collective happiness and community well-being. Their contributions are seen as a powerful example of an immigrant family giving back to the country that enabled their success.
Andrew Cherng's style is characterized by the polished, approachable image of a successful restaurateur who values service and culture. His attire is consistently neat, modern, and professional, often favoring comfortable, dark business suits or tailored jackets suitable for managing operations across thousands of locations. He and his wife, Peggy, are known for their focus on the corporate culture of the Panda Group, often emphasizing personal growth and service to others over outward display.
His lifestyle is centered in Southern California, reflecting the birthplace of his empire. His luxury is the freedom of private ownership and the ability to sustain a massive, family-run enterprise. His true indulgence is the ability to leverage his wealth for large-scale philanthropy, embodying his personal quote: “Life is more than just for yourself. You want to do well for family, to take care of other people, other causes—that is where happinesses are.”
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“Life is more than just for yourself. You want to do well for family, to take care of other people, other causes—that is where happinesses are.”
“It is not about having a great product. It is about having a great team, taking care of the customer and having a great culture.”
“We see ourselves as a bridge between the American and Chinese experience.”
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-12.13% | -$535.20M
-0.14% | -$1.85M
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