How the Billionaire Was Tempered?

In an exclusive interview with APD, Binod Chaudhary, Nepal’s first billionaire, said that he is just a small man from a small country with very big dreams.

How did your life change since you made it into the Forbes’ Billionaire List in May 2013?

My entry into the Forbes’ Billionaire List makes Nepal not only known for the Mount Everest and the birthplace of Lord Buddha, but also for her entrepreneurial and managerial skills. Our organization has extended its wings all over the world. Nepalese are running it; Nepalese are managing and owning it. We have been capable of building a transnational corporation and we successfully operate it. Making it into the Forbes’ Billionaire List is the result of the blood and sweat of four generations. I am proud to say that there are 7,000 people associated with the Chaudhary Group (CG) in 19 countries.

What is the secret of your success?

It took a lot of hard work and a clear vision and mission. I did something which at the time was considered pretty unconventional. I am both a dreamer and a planner. I also credit the people for their hard work in adding bricks to my foundation. CG’s investment outside the country has been subjected to thoroughly heedful considerations.

You are rich, but Nepal is so poor. What is this contrast in your eyes?

Forbes has not listed me as being the richest individual, but our organization. I happened to get the credit but it is actually a team’s success. I do not think my organization is the richest in our country. There might be other corporate houses with a fortune equal – or even greater – than mine. My organization has been enlisted in Forbes’ for its corporate culture and transparency. I share whatever we do and have. For example, from the Middle East, there are only 4 individuals in Forbes’ list, though every Sheikh is actually a billionaire. In India, there are only 15 who fall into this category, but in China 400 because the country is much more transparent. So, it’s not about money or about being the richest. I do agree with you. Sometimes, I feel very embarrassed when exposed to the situation of my country. People tell me that you are one of the Forbes recognized billionaires, but look at the state of your country! What I answer is that I am doing what I am supposed to do in a manner that lifts my head up. I wish my friends involved in politics did the same.

You are a Nepali, but you made most of your fortunes overseas. Do you want to avoid being a big fish in a small pond?

The world is all about going beyond national frontiers. In today’s world, you should not confine to a single country yourself, your enterprise, ideas and even your capital. With a click of the mouse, capital flows from one part of the world to the other, and similarly, business shifts from one corner of the globe to the opposite one. I am a just small man from a small country with very big dreams. We are global citizens. We should have faith and confidence. We also have the potential of becoming a Bill Gates, Mark Zuckerberg, Dhirubhai Ambani or whosoever. I always believe that wisdom cannot be monopolised. You do not have to attend the world’s top universities to be the world’s best brain. The whole world is a playing field if you have skills and believe in entrepreneurship.

What are your considerations regarding the political situation in Nepal and its repercussions on the economy?

I must say I am quite optimistic as I see that there is a pretty buoyant mood in Nepal following the November 19 elections. Somehow I am reminded of how I felt in 1992 when late Girija Prasad Koirala came to power. A similar kind of euphoria had spread through the air, but because of their infighting, political leaders pushed the country back to a neverending mess. I hope that the current mood persists and that this time wisdom prevails. The political agenda must tackle economic growth, governance, brain drain and labor migration. Nepal’s God-gifted natural resources are yet to be utilized. It’s a contradiction in terms: instead of being a major exporter of power, we are a major power importer. If chaos persists, political instability and a growing risk of another insurgency will chronically be around the corner.

Do you have any other ambitions and dreams in your life?

There are rumors about you wanting to get involved in politics. I am involved in politics already. I was invited to become a member of the CA. I was a part of the parliamentary Natural Resources Committee, the only committee that submitted its report on time despite the leftist force being there. I would like to see a large-scale transformation. That’s my dream. I want to see Nepal’s politics being driven by economic growth. I want to see someone, who does not compromise the country’s interests for his personal or party-oriented agenda.

Are you planning to move from business to politics?

Business is just a small part of a vibrant country. No matter how big CG becomes, it will not transform Nepal. But, if I can transform Nepal, we can give birth to many other CGs. That’s the difference. My mission is to make the country economically vibrant, taking full advantage of what God has given us, and increasing our exchanges with countries like China, India, Japan and the West. I am 100 percent in politics and I will continue to remain in politics.

You recently published your autobiography. How did you find time to write a book? How do you value it?

When the publisher first approached me, asking me to write an autobiography, he told me to take as much time as I needed. It took me five years to complete the project. First, I asked myself : “Can I be 100 percent honest?” If I were not going to be honest and open with my readers, there was no point in writing an autobiography. I am happy that most readers draw inspiration from the book, as if thinking that if Binod Chaudhary has done it, we can also do it! We have already sold 30,000 copies. We are coming up with the English edition in early 2014. It will be released all over South Asia.

(The interview was published by the 7th edition of APD newspaper in 2014)