Andrew Cherng Net Worth

Andrew Cherng has an estimated net worth of $7.8 billion, according to Forbes Real-Time Billionaires, Andrew Cherng profile (figures as of October 20, 2026). That is up from $2.5 billion in 2023.

Andrew Cherng is an American restaurateur best known for helping build Panda Express. He first entered the restaurant business with his father in 1973, when they opened Panda Inn in Pasadena. Cherng had studied mathematics and later earned a master's degree in applied mathematics. A decade later, he and his wife, Peggy Cherng, launched the first Panda Express in a Glendale mall. That move turned a local restaurant business into a fast-food brand with a much wider reach.

Panda Express became the main source of his wealth. The chain grew to 100 restaurants by 1993 and later expanded far beyond California. Today it has 2,600 locations across the U.S., Canada, Mexico, Dubai and South Korea, with Andrew and Peggy Cherng serving as co-CEOs. Cherng also invested with Peggy in other restaurant concepts and in a Las Vegas hotel deal. Forbes put his net worth at $7.8 billion on its real-time billionaires tracker in October 2026.

How Andrew Cherng built his fortune

Cherng's money comes mainly from food and restaurants. He started in 1973 with Panda Inn, a sit-down restaurant in Pasadena that he opened with his father. In 1983, he and Peggy Cherng opened the first Panda Express in a Glendale mall. That fast-food spinout became the bigger business. He is the founder and chairman of Panda Restaurant Group, and he also serves as co-CEO of Panda Express alongside Peggy Cherng.

Scale is a big part of the story. Panda Express reached 100 restaurants by 1993 and later grew into a 2,600-location chain operating in the U.S., Canada, Mexico, Dubai and South Korea. The Cherngs also invested in other restaurant concepts, including Just Salad, YakiYan, Ippudo and Pieology. In 2018, they invested in the group that bought the Mandarin Oriental hotel, now the Waldorf Astoria, in Las Vegas for $214 million.

Forbes net worth updates

Forbes has raised its estimate of Cherng's fortune several years in a row. It reported $2.5 billion for 2023, then $3.1 billion for 2024, and $3.7 billion for 2025. On the 2026 World's Billionaires List, Forbes estimated $7.7 billion. The business behind those numbers is Panda Express, the large restaurant chain he cofounded with Peggy Cherng, plus other investments tied to the family and hospitality.

The most current Forbes number is even a little higher. As of October 20, 2026, Forbes' real-time billionaires tracker showed Andrew Cherng at $7.8 billion. That figure follows years of growth for Panda Express, which now spans 2,600 locations in several countries. His wealth story is also notable because Forbes classifies him as self-made, with his career built around restaurants rather than a public company listing.