Peggy Cherng: Engineering a fast-food fortune

In this episode of Good, Bad, Billionaire, the focus is on Peggy Chung, the co-founder of Panda Express, the largest Chinese fast food chain in America. Peggy was born in Myanmar and moved to Hong Kong with her family. She pursued studies in mathematics and later earned a PhD in electrical engineering. Initially, she worked in aerospace but soon became involved in the family restaurant business. Panda Express started as a small venture but grew significantly due to smart operational design and innovative technology use, which Peggy introduced.

Starting from their first restaurant, the Chungs utilized data tracking and performance metrics to streamline operations. By opening outlets in high-foot-traffic areas such as malls, they took advantage of impulse buying situations. The introduction of signature dishes like orange chicken made them a staple in American Chinese cuisine, fueling their growth. Despite experiencing success, the Chungs faced criticisms over labor practices and workplace culture as their employee base expanded, leading to various legal battles.

In the years that followed, they opted for strategic diversification into other food concepts and focused on owning most of their locations, which proved advantageous. As of 2025, Panda Express has over 2,500 locations and revenues surpassing $6 billion. Throughout the journey, Peggy Chung emphasized innovation while managing the complexities of a growing business, proving that a solid engineering background can translate into success in the culinary industry.

Ultimately, Peggy has sustained her role alongside her husband in leading Panda Express while addressing the challenges of maintaining quality and employee relations in the realm of fast food, all while building a significant legacy in American culinary culture.