Who Founded Panda Express
Panda Express was founded by Andrew and Peggy Cherng, a husband-and-wife team who opened the first location in 1983 in Glendale, California. Andrew Cherng, born in Yangzhou, China, moved to the United States and worked in the food industry before launching the chain with his wife. The company is privately held and headquartered in Rosemead, California. Andrew Cherng remains the majority owner and chairman of Panda Express, which operates as a fast-casual Chinese-American restaurant brand. More details on the Cherngs' background are available on Forbes.
Panda Express grew from a single mall kiosk into one of the largest Chinese-American restaurant chains in the United States. The company emphasizes a fast-casual model with made-to-order entrees and a standardized menu across locations. As of the latest public data, Panda Express operates hundreds of locations in the U.S., primarily in shopping malls, airports, and food courts. The brand is known for dishes such as Orange Chicken and Beijing Beef. The company remains family-controlled, with Andrew and Peggy Cherng retaining the majority of ownership.
Ownership and Net Worth
Andrew Cherng's Role and Stake
Andrew Cherng holds the majority ownership stake in Panda Express, and his net worth is closely tied to the company's private valuation. Because Panda Express is not publicly traded, exact financial figures are not disclosed through standard public filings, but Forbes and other outlets have estimated the Cherngs' wealth based on company performance and industry data. Andrew Cherng continues to serve as chairman and is actively involved in brand strategy and expansion decisions. The Cherng family's control structure keeps decision-making centralized and limits outside investor influence.
Panda Express has expanded its footprint by adding new locations and testing formats beyond traditional mall kiosks. The company has invested in digital ordering, delivery partnerships, and menu innovation to stay competitive. Despite its size, Panda Express remains a private company, which means detailed ownership breakdowns and financial statements are not available through the SEC. The Cherngs' continued leadership and majority ownership remain central to the company's long-term strategy.
Growth, Scale, and Industry Position
Restaurant Count and Revenue Estimates
Panda Express operates one of the largest systems of Chinese-American fast-casual restaurants in North America, with locations spread across the United States. The company has historically ranked among the top fast-casual restaurant brands by sales volume and unit count. Revenue estimates are not publicly disclosed, but industry reports and Bloomberg have placed Panda Express among the highest-grossing privately held restaurant companies. The brand's scale is supported by a centralized kitchen model and supply chain that serves many locations simultaneously.
The company has continued to grow by entering new markets and partnering with major retail and travel venues. Panda Express has also expanded its digital presence and loyalty programs to drive repeat visits. The Cherng family's ownership model allows for long-term investment in technology and store formats without pressure from public markets. As a private company, Panda Express can pursue expansion and innovation at its own pace, maintaining a strong position in the fast-casual segment.