Nepali-Origin Entrepreneurs Shesh Ghale and Jamuna Gurung Among Australia’s Wealthiest with $1.2 Billion in Assets
News Summary
Editorial reviewed.
- Entrepreneurs of Nepali origin, Shesh Ghale and Jamuna Gurung, remain among Australia’s wealthiest in 2026.
- They first appeared on the top 250 wealthiest list in 2009 and have maintained their position continuously for 18 years.
- The Ghale couple co-founded the Melbourne Institute of Technology and are active in education and real estate sectors.
Chaitra 10, Kathmandu – Shesh Ghale and Jamuna Gurung, entrepreneurs of Nepali origin, have once again been included among Australia’s wealthiest individuals this year. According to the 2026 list published by The Australian, Ghale and Gurung hold the 150th and 151st positions respectively.
The couple has sustained their presence on this list for 18 consecutive years since first being listed among the top 250 wealthiest in 2009.
They are co-founders of the Melbourne Institute of Technology (MIT). The Australian reports that together, they possess assets worth approximately $1.21 billion.
Born in Nepal, Gurung and Ghale migrated to Australia in the early 1990s. Established in 1996, the Melbourne Institute of Technology has developed into the largest private higher education provider for international students in Australia, with campuses in Melbourne and Sydney and partnerships with Australian universities.
While their primary business focus remains education, the Ghale couple is consistently involved in real estate ventures. They have acquired commercial properties across Melbourne, many of which operate as campuses for MIT.
Their most significant property is a 3,900 square meter site located at 386-412 William Street on the northern edge of Melbourne’s CBD, purchased in 2009 for $17.8 million and earmarked for redevelopment.
After demolishing the old building on the site in 2025, plans to construct an office building were altered due to a sluggish market. The couple has since shifted their vision toward developing a luxury hotel and serviced apartments, as noted by The Australian. Although the land tax on the vacant site is around $200,000 annually, Ghale has provided detailed information on the property.
“Gurung and Ghale also support education and community projects and own and develop hotels in Belgium and Nepal, including a prestigious hotel set to open soon in Kathmandu,” The Australian stated.
Shesh Ghale is also a former president of the Non-Resident Nepali Association (NRN).
