Panda Express is a subsidiary of Panda Restaurant Group, Inc., and it was founded in the year 1973 by Andrew Cherng and his father Ming-Tsai Cherng.
The Cherngs came to the U.S. in the 1960s. Shortly after, Andrew, along with his father, opened their first restaurant in Pasadena, California, by the name Panda Inn. Subsequently, in 1982, Andrew’s wife, Peggy Cherng, joined her husband.
Andrew Cherng is not just the Co-founder of Panda Express but also the Co-Chairman and Co-CEO. He is the visionary behind Panda Express.
Peggy Cherng is also the Co-founder, Co-Chairman, and Co-CEO of Panda Express. She holds a Ph.D. degree in electrical engineering and leveraged her engineering knowledge to develop a system for her brand.
The combined net worth of Andrew and Peggy Cherng, the owners of Panda Express, is $3.3 billion as of 2023 and are one of the richest people in America.
The current owners of Panda Express are Andrew Cherng and Peggy Cherng; the duo owns and manage all the outlets themselves.