Net Worth: $1.5 Billion
- Source of Wealth Restaurant
- Birth Place Burma
- Marital Status Married to Andrew Cherng
- Full Name Peggy Tsiang
- Nationality American
- Education Oregon State University (B.S.) and University of Missouri (M.S. and Ph.D.)
- Children thee children
About Peggy Cherng
Peggy Cherng is the wife of Andrew Cherng, the co-founder and chief executive officer of Panda Express. Born Peggy Tsiang in Burma, she grew up in Hong Kong and went to the United States to study. She holds a B.S. in Applied Mathematics from Oregon State University as well as M.S. in Computer Science and Ph.D. in Electrical Engineering from the University of Missouri. In June 2016, she joined Forbes’ list of America’s richest self-made women with an estimated net worth of $1.5 billion.
Cherng left a software development career at 3M and McDonnell Douglas to help her husband in the business. In 1983, the manager of the Glendale Galleria, Donahue Schriber Real Estate, invited the couple to develop a fast-food version of the Panda Inn at the food court which started the Panda Express. The Panda Restaurant Group (PRG) made the annual sales of more than $1 billion with 13,000 employees in 2007. It has more than 1,300 restaurants in the United States, Puerto Rico and Japan.
The Cherngs received the 2008 City of Angels Award given by the LAX Coastal Area Chamber of Commerce for their contributions to the greater Los Angeles Area. Peggy Cherng also serves on the boards of Methodist Hospital of Southern California, Children’s Hospital Los Angeles, and UCLA Anderson School of Management. However, she did not seek for re-election as director for her to devote more time to her responsibilities in PRG.