Kathmandu, March 25
Nepali-origin entrepreneurs Shesh Ghale and Jamuna Gurung have once again made it to Australia’s list of the wealthiest individuals this year. According to The Australian, in the 2026 list of Australia’s richest and highest-earning people, Ghale and Gurung are ranked 150th and 151st, respectively.
The Ghale couple has successfully secured a spot on this list for 18 consecutive years. They first entered the top 250 wealthy individuals list in 2009.
They are co-founders of the Melbourne Institute of Technology. According to The Australian, the Ghale couple has a combined net worth of AUD 121 million.
Born in Nepal, Gurung and Ghale moved to Australia in the early 1990s. The couple founded the Melbourne Institute of Technology (MIT) in 1996, which has become one of Australia’s largest private higher education institutions for international students, with campuses in Melbourne and Sydney and partnerships with Australian universities, The Australian reported.
While their primary business is in education, the Ghale couple has also been continuously involved in the real estate sector. They have acquired a portfolio of commercial properties across Melbourne, many of which host MIT campuses.
Their most prominent property, a 3,900-square-meter plot at 386–412 William Street on the northern edge of the CBD, was purchased in 2009 for AUD 17.8 million and has been earmarked for redevelopment. After demolishing an old building there in 2025, the couple decided to shift their plans from an office building to a luxury hotel and serviced apartments, citing a sluggish office market, according to The Australian. Ghale stated that the vacant land alone incurs an annual land tax of around AUD 200,000.
The Australian noted: “Gurung and Ghale not only support education and community projects but also own and are developing hotels in Belgium and Nepal, including a prestigious property in Kathmandu set to open soon.”
Ghale is also a former president of the Non-Resident Nepali Association (NRN).
