From mall food courts to a coast-to-coast cultural staple, the Panda Express founders rewrote how Americans eat Chinese food. What started as a single fast‑casual outpost grew into a restaurant empire known for orange chicken, operational rigor, and a distinctly American immigrant success story.
The brand now partners with philanthropic efforts like the TAAF Giving Challenge and is moving beyond restaurants. The Cherng Family Trust, the private vehicle of Panda Express founders Andrew and Peggy Cherng, is part of the investor group acquiring the Portland Trail Blazers. And suddenly, the couple behind the orange logo are courtside players.
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Who are the Panda Express founders, Andrew & Peggy Cherng?
Andrew and Peggy Cherng are the co‑founders and co‑CEOs of Panda Restaurant Group, the parent of Panda Express. They built the business from a Pasadena restaurant into one of the nation’s largest fast‑casual chains. Their impact stretches beyond plate counts as they brought data systems and operations discipline to mall food courts long before “scale” became a management buzzword. They’ve also become noted philanthropists, funneling resources through their family trust into education, public health, and community projects.
And the best part? They are partners in business and in life. Married since the 1970s, the Cherngs are a classic immigrant success story of rigorous work, technical smarts, and an appetite for improvement. That background matters to fans and to sports worlds now eyeing the Trail Blazers deal. People are now looking for context on where the Cherngs come from, what they believe in, and how they amass the capital to buy into an NBA franchise.
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Panda Express Founders’ Early Life & Ethnicity
Andrew Cherng was born in Yangzhou, Jiangsu province. His family moved during turbulent years, and Andrew later spent part of his youth in Taiwan before emigrating to the United States for college. He is commonly described as Taiwanese‑American, reflecting both his birthplace and upbringing across Chinese and Taiwanese communities.
Meanwhile, Peggy Tsiang Cherng was born in Mawlamyine in what was then British Burma (now Myanmar) and grew up in Hong Kong. She moved to the U.S. for school, where she studied mathematics and engineering. Their story is one of multiple homes across Asia and then the United States, a background that shaped their work ethic and worldview.
Both founders trace their roots to Chinese culture and upbringing. That heritage informs the food, but it does not map neatly onto public declarations of faith. There is no public confirmation of either Andrew or Peggy Cherng’s religious beliefs, and reporting on the couple has focused on nationality, education, and business practices rather than personal faith, for now anyway. Now, onto the question fans are wondering most: how much are the Cherngs worth?
Panda Express Founders’ Net Worth
Forbes estimates (2025) place Andrew Cherng’s net worth at roughly US$4 billion and Peggy Cherng’s at about US$3.7 billion. Together, they rank among the wealthiest couples in the U.S. restaurant business. Their ownership is concentrated in Panda Restaurant Group, which operates nearly 2000 locations and reports billions in annual sales. The Cherng Family Trust remains the family’s investment vehicle.
It holds stakes beyond the restaurants and backs philanthropic projects. That trust is the entity tied to the new Trail Blazers purchase, a sign that the couple’s wealth is moving into sports ownership and civic influence. Their combined capital and private investing history make them powerful players in any ownership group.
Their money does more than buy stakes. It funds research, scholarships, and community outreach. The couple has quietly supported educational programs and local health initiatives, reflecting a brand strategy that parallels their public philanthropy.
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The Cherngs’ move into the Trail Blazers ownership group is a natural next act for founders who built a national brand from a single restaurant and then turned capital into civic influence. Their immigrant background, academic training, and operational discipline explain how they scaled Panda Express. Their philanthropic reach and now‑public sports investment explain why people are paying attention.
What comes next is practical, as new owners will face arena choices, community demands, and the task of rebuilding a franchise that has struggled on the court. For Portland, the Cherngs bring deep pockets and a long track record of building institutions. For fans, the question will be whether Panda Express’ empire can translate into success in the NBA. In short? Know the founders, watch the trust, and keep an eye on how this brand‑to‑bench story unfolds.