Nepal’s lone billionaire, Binod Chaudhary, representing the Nepali Congress, experienced a significant loss in the parliamentary elections in Nawalparasi West-1 to Rastriya Swatantra Party candidate Bikram Khanal. Khanal emerged victorious with 45,241 votes, surpassing Chaudhary who garnered 9,502 votes, as per the Election Commission of Nepal.
Chaudhary’s defeat adds to the trend of candidates from established political parties like the Nepali Congress, the Communist Party of Nepal (Unified Marxist-Leninist) or CPN (UML), and the Nepal Communist Party facing setbacks in this year’s elections, with the RSP making substantial gains nationwide. Several RSP candidates with business backgrounds are triumphing, while those from traditional parties are encountering defeats.
Notably, Chaudhary’s loss coincides with defeats suffered by his party’s president, Gagan Thapa, General Secretary Pradeep Poudel, and other prominent candidates, as the RSP continues its success across Nepal. The Nepali Congress has secured 15 seats and is leading in two out of 165 constituencies, whereas the RSP has clinched victory in 103 seats and leads in 21, as per the election results.
Chaudhary, recognized as Nepal’s sole billionaire by Forbes, was previously elected as a Nepali Congress lawmaker from the same constituency in the 2022 elections and to the Lower House of Parliament through proportional representation in 2017. Forbes values Chaudhary’s net worth at $2.1 billion as of March 2026, with significant holdings in CG Corp Global, including a controlling interest in Nabil Bank and CG Foods, renowned for producing Wai Wai noodles.
