Kathmandu, 25 March: Nepali-origin entrepreneurs Shesh Ghale and Jamuna Gurung have once again been listed among Australia’s richest individuals this year. According to the 2026 rich list published by The Australian, Ghale and Gurung are ranked 150th and 151st respectively among the wealthiest and highest-earning people in Australia.
The Ghale couple has successfully maintained their position on the list for 18 consecutive years. They first entered the top 250 richest list in 2009. They are co-founders of the Melbourne Institute of Technology. According to The Australian, the couple has amassed a combined wealth of $1.21 billion.
Born in Nepal, Gurung and Ghale migrated to Australia in the early 1990s. The Melbourne Institute of Technology (MIT), which they established in 1996, has campuses in Melbourne and Sydney and partnerships with Australian universities, making it one of the largest private higher education institutions for international students in Australia.
Although education remains their primary business, the Ghale couple has also been consistently involved in the real estate sector. They have acquired a portfolio of commercial properties across Melbourne, many of which house MIT campuses.
Their most prominent asset is a 3,900-square-meter property located at 386–412 William Street on the northern edge of the CBD, which was purchased in 2009 for $17.8 million and has been earmarked for redevelopment.
After demolishing the old building in 2025, the couple shifted their plan from constructing an office building to developing a luxury hotel and serviced apartments, citing a slowdown in the office market. Ghale stated that the vacant land alone incurs an annual land tax of around $2 million. Which has made a significant economic contribution to the nation.
“The Gurung and Ghale support education and community projects, and also own and are developing hotels in Belgium and Nepal, including a prestigious property set to open soon in Kathmandu,” The Australian reported.
Shesh Ghale is also a former president of the Non-Resident Nepali Association.
