Panda Express is a privately owned American fast-casual Chinese restaurant chain headquartered in Rosemead, California, United States. The brand is widely known for popular menu items such as Orange Chicken, Beijing Beef, and Chow Mein.
Panda Express operates under its parent company, Panda Restaurant Group, which also includes Panda Inn and Hibachi-San. Unlike many large restaurant chains, Panda Express is not publicly traded and does not trade on any stock exchange.
The company was founded in 1983 by Andrew Cherng and his father Master Chef Ming-Tsai Cherng. Today, Panda Express operates 2,400+ locations worldwide, primarily across the United States, and employs tens of thousands of people. As of recent years, the company is led by Andrew Cherng as Chairman and Co-CEO, alongside his wife Peggy Cherng, who also serves as Co-CEO.
Ownership Status of Panda Express
Panda Express has no single public or institutional owner because it is a privately held family-owned company.
The company is owned and controlled by its founders, primarily:
- Andrew Cherng
- Peggy Cherng
Since Panda Express is not listed on any stock exchange, there are no publicly disclosed ownership percentages, and there are no SEC filings such as 13D, 13G, or 13F associated with its ownership.
Major Owners
| Owner | Role | Ownership Notes |
|---|---|---|
| Andrew Cherng | Chairman & Co-CEO | Co-founder and principal owner |
| Peggy Cherng | Co-CEO | Co-owner and strategic leader |
Note: Panda Express remains fully private, with ownership concentrated within the Cherng family.
Andrew Cherng Net Worth
Andrew Cherng has an estimated net worth of around $11–12 billion as of recent years. His wealth primarily comes from being the co-founder, chairman, and co-CEO of Panda Express, the largest family-owned Asian dining concept in the United States.
Since Panda Express is a privately held company, Cherng’s exact stake is not publicly disclosed. However, industry analysts widely agree that the majority of his fortune is tied to the company’s strong cash flow, large-scale restaurant operations, and long-term private ownership. In addition to Panda Express, Andrew Cherng is also known for significant philanthropic contributions, particularly in education, leadership development, and community initiatives.
Peggy Cherng Net Worth
Peggy Cherng, co-CEO and co-owner of Panda Express, has an estimated net worth of approximately $11–12 billion, similar to her husband Andrew Cherng.
Peggy Cherng holds a PhD in electrical engineering and played a key role in building Panda Express’s operational systems, leadership culture, and technology-driven growth model. Her net worth is largely derived from her ownership stake in Panda Restaurant Group and decades of reinvestment into the business. Like Andrew Cherng, she is also actively involved in philanthropy and leadership education programs.
Key Ownership Highlights
Panda Express stands out among major restaurant chains because it has never gone public or accepted outside controlling investment.
Key points:
- The Cherng family maintains full operational and strategic control
- No private equity firm or hedge fund has a controlling stake
- Long-term decision-making is focused on culture, food quality, and employee development, rather than short-term shareholder pressure
- The company reinvests profits internally rather than distributing dividends to public investors
This ownership structure has allowed Panda Express to expand steadily while maintaining a consistent brand identity.
Recent Developments in Ownership
There have been no recent changes in the ownership structure of Panda Express.
The company continues to operate as a privately held business under Andrew and Peggy Cherng, with no announced plans for:
- An IPO
- Sale to private equity
- Merger with another restaurant group
Any future ownership changes would likely be publicly announced due to the brand’s size and global presence.
FAQs
1. Who is the current owner of Panda Express?
Panda Express is owned by its founders, Andrew Cherng and Peggy Cherng. It is a privately held, family-owned company.
2. Is Panda Express publicly traded or privately owned?
Panda Express is privately owned and is not listed on any stock exchange.
3. Who founded Panda Express?
The company was founded in 1983 by Andrew Cherng and his father Master Chef Ming-Tsai Cherng.
4. Has Panda Express ownership changed recently?
No. Ownership has remained stable with the Cherng family, and no recent changes have been reported.
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