Shesh Ghale

Dr Shesh Ghale is a Nepalese born Australian businessman, billionaire and the former president of Non Resident Nepali Association (NRNA). Based in Melbourne, Victoria, Ghale is the CEO of Melbourne Institute of Technology (MIT), which he co-founded with his wife, Jamuna Gurung.

Dr

Shesh Ghale
Shesh Ghale, CEO, Biplov Co
Born
Lamjung, Nepal
Alma mater
OccupationEntrepreneur
SpouseJamuna Gurung

Ghale and his wife, Gurung, are the No.3 billionaires of Nepalese origin.[1]

Biography

Born in the western Nepal village of Lamjung, Ghale undertook his initial tertiary education in the former USSR (1979 to 1986) graduating with a Master of Civil Engineering degree from the Kharkiv National Automobile and Highway University. He undertook his studies on a Nepalese Government scholarship and, on returning to Nepal, worked as a highway project engineer for the Nepalese Government's transport department. Ghale relocated to Melbourne in 1990 to undertake further studies and to settle his family in Australia. He graduated from Victoria University in 1994 with a Master of Business Administration.

He is actively involved in Melbourne's business and commercial life and has a passionate commitment to education.

Ghale is the CEO and co-founder of the Melbourne Institute of Technology.

Net worth

Ghale and his wife, Gurung, were the first billionaires in the global Nepalese diaspora and the only third billionaire of Nepalese origin after Acharya Balkrishna and Binod Chaudhary.[1]

Ghale and Gurung first appeared on the BRW Rich 200 in 2009,[1] and jointly appeared on subsequent rich lists.[1][2][3][4][5] As of May 2023, the net worth of Gurung and Ghale was assessed by The Australian Financial Review in the 2023 Rich List as approximately A$900 million.[6]

Year Financial Review
Rich List		 Forbes
Australia's 50 Richest
Rank Net worth (A$)
[note 1]		 Rank Net worth (US$)
2014[2] $335 million Increase
2015[2] 99 Increase $528 million Increase
2016[2] 105 Decrease $586 million Increase
2017[1][7][8] 101 Increase $647 million Increase
2018[9] 81 Increase $876 million Increase
2019[10][11] 78 Increase $1.18 billion Increase
2020[12] 105 Decrease $994 million Decrease
2021[13] 111 Decrease $1.01 billion Increase
2022 136 Decrease $1.00 billion Decrease
2023[6] 157 Decrease $900 million Decrease
Legend
Icon Description
Steady Has not changed from the previous year
Increase Has increased from the previous year
Decrease Has decreased from the previous year
Note
  • ^1 : Net worth held jointly with Jamuna Gurung.

Philanthropy

Ghale is known both for his philanthropic work, especially in the aftermath of the April and May 2015 earthquakes in Nepal, as well as for his rise from an international student to his listing on the list of Australian billionaires. Following the 2015 Nepal earthquakes, as the president of NRNA International Coordination Council (ICC), Ghale led a well-coordinated relief and reconstruction activities. As a result, he and his wife spent much of the following years leading the campaign by stationing themselves closer to the ground zero of the devastating earthquake.

Some of his key achievements included service as the Honorary Consul General of Nepal in Victoria (1997-2000); nominated for the 2013 Ernst and Young Australian Entrepreneur of the Year Award; elected president of the Non-Resident Nepali Association (NRNA) for an inaugural two-year term (2013–2015) and re-elected for a second two-year term (2015–2017); awarded Doctor of the University Honoris Causa in 2015 by the Federation University in recognition of Ghale's distinguished service and contribution to Australian Higher Education, and to urban preservation and development, and of course to the people of Nepal; appointed "Special Envoy for Nepal Earthquake Reconstruction and Development" by the Government of Nepal in 2015; and in the same year appointed "Goodwill Ambassador for 2015-17" in the Male Leaders in the campaign against Domestic Violence by the Nepalese Ministry of Children, Women and Social Services.[14]

In 2015, Ghale and Gurung co-founded the MIT Group Foundation to help under-privileged and vulnerable communities of Nepal through education and health. They have donated NPR रू1 billion to the Foundation.[15][16][17][18][19]

References
  1. "Shesh and Jamuna Ghale merely $353 million shy of joining billionaires club but the philanthropic couple is in no hurry". Southasia. 27 May 2017. Retrieved 29 November 2017.
  2. Khatry, Ram (27 May 2016). "Worth over half a billion dollars, gentle Ghales become 105th richest in Australia". Southasia. Retrieved 1 September 2017.
  3. "Shesh Ghale buys Melbourne's 'best' corner". The Sydney Morning Herald. 2 June 2017. Retrieved 29 November 2017.
  4. "Shesh Ghale ready for mountain of work on Melbourne hotel". The Australian. Retrieved 29 November 2017.
  5. "MIT gets approval for twin-tower apartment and hotel complex over market and gardens". The Sydney Morning Herald. 17 June 2015. Retrieved 29 November 2017.
  6. Bailey, Michael; Sprague, Julie-anne (26 May 2023). "The 200 richest people in Australia revealed". Australian Financial Review. Retrieved 6 June 2023.
  7. Stensholt, John, ed. (25 May 2017). "Financial Review Rich List 2017". The Australian Financial Review. Retrieved 8 June 2017.
  8. Mayne, Stephen (26 May 2017). "Mayne's take: The top 25 Australian billionaires, as claimed by Fairfax". Crikey. Private Media. Retrieved 10 October 2019.
  9. Stensholt, John, ed. (25 May 2018). "2018 AFR Rich List: Who are Australia's richest people?". The Australian Financial Review. Retrieved 26 May 2018.
  10. Bailey, Michael (30 May 2019). "Australia's 200 richest people revealed". The Australian Financial Review. Nine Publishing. Retrieved 31 May 2019.
  11. "Shesh Ghale & Jamuna Gurung: Nepalese Australians have just gotten billionaires among them". Southasia. 30 March 2019.
  12. Bailey, Michael; Sprague, Julie-anne (30 October 2020). "The full list: Australia's wealthiest 200 revealed". The Australian Financial Review. Nine Publishing. Retrieved 31 October 2020.
  13. Bailey, Michael; Sprague, Julie-anne (27 May 2021). "The 200 richest people in Australia revealed". Australian Financial Review. Retrieved 28 May 2021.
  14. "Dr. Shesh Ghale, Honoris Causa | Melbourne Institute of Technology". www.mit.edu.au. Retrieved 5 February 2023.
  15. "MIT Foundation". mitgroupfoundation.org.
  16. "News from Nepal as it happens". Nepalnews.com. Retrieved 20 March 2014.
  17. Lenaghan, Nick. "Rich-listers Shesh Ghale and Jamuna Gurung unveil $450m Melbourne hotel plans". Brw.com.au. Retrieved 20 March 2014.
  18. "Melbourne Institute of Technology co-founders unveil $450m hotel complex plans". Australian Financial Review. Retrieved 20 March 2014.
  19. "Shesh Ghale, Chief Executive Officer". Melbourne Institute of Technology. n.d. Retrieved 20 March 2014.
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