Peggy Cherng | Success story of American billionaire businesswoman
The era of women’s business started so long, bringing up many billionaires its world of self-made women growing out of the box to reach Success. Peggy Cherng is among billionaire women in America with a Chinese fast food chain and an American twist through Panda Express. The combination of the American and Chinese came up with American Chinese cuisines. Giving justice to the American culture Peggy who never dreamed of opening a restaurant, is now a billionaire. What’s the story behind her restaurant and her Successful journey to become a great businesswoman.
The early life of Peggy Cherng
Peggy Cherng was born in 1947/1948 in Burma, now Myanmar, and later moved to Hong Kong. She completed her primary education In Clementi Secondary School and graduated in 1966. Further joined Baker University in Baldwin City, Kansas, United States. After a year, Peggy transferred to Oregon State University. I earned a bachelor’s degree in applied mathematics in 1970. Then attended the University of Missouri, earning a master’s in computer science in 1971 and a Ph.D. in electrical engineering, working towards building digitalized X-rays and designing algorithms to diagnose congenital heart disease in 1974.
Peggy’s journey of earning started with an excellent aerospace firm; soon after graduation, Cherng joined McDonnell Douglas, a manufacturer, and U.S. defense contractor, and built code on battlefield simulators for the U.S. Air Force until 1982. Also worked as software manager to technical department at 3M and Comtal Corporations.
Her career twisted in 1983 when she married Andrew Cherng and moved to Los Angeles. Till 1982 it was just a restaurant that served food. But later, Peggy designed it technically to teach feedback and manage an inventory. After a year, she opened a Panda Express in the food court and took over a restaurant in 1997 as CEO and president.
Hence, Panda Express has brought Chinese-American food to more than 2,200 locations in the United States and around the world, employing nearly 40,000 people. By 2018 it earned a revenue of $3.3 billion.
Peggy’s personal life is a philanthropist.
Gain and give similarly, Peggy has donated millions of dollars to non-profit organizations, schools, and children’s hospitals since 1999. In 2017, she showed $30 million to endow the Andrew and Peggy Cherng Department of Medical Engineering at Caltech. To the University of Missouri, she donated around $1.5 million.
Coming to her personal life, Peggy married the love of her life Andrew Peggy. Whom she met in the first year of her freshman graduation after a Ph.D., and they married. And have three daughters who are also supporting a family and a business together. The oldest is the chief marketing officer at Panda Express, the second daughter manages investments for the Cherng Family Trust, and the last child works with the Panda Charitable Foundation.
A woman who proved she could achieve anything by Peggy Cherng, a Peggy Tsiang Cherng who always believed in a compromise. That’s how strong the bond and business are. Peggy was a self-made American woman in 2019 by Forbe’s and the second richest woman in America. Hope is the highest potential that builds and helps people to grow professionally and personally is a thing that Peggy shows.
Who is Peggy Cherng?
Peggy Cherng is co-CEO of Panda Express, the Chinese fast food chain with more than 2,200 locations.
Peggy Cherng daughters?
Andrea and Nicole worked for the Panda company in Rosemead, and Michelle is a primary/secondary school teacher.