Shesh Ghale’s net worth raises by over $200 mil in a year

Published On: May 25, 2018 11:00 AM NPT

KATHMANDU, May 25: Non-Nepali resident Shesh Ghale and his wife Jamuna Gurung’s wealth rose by 35.4% in 2018 to become 81st richest couple in Australia.

According to the Australian Financial Review’s report, the couple has net worth of $ 876 million, a rise from $647 million last year. Last year, the duo ranked 102 in the list published by the magazine every year.  

According to the Review, “Ghale and his wife Gurung have most of their wealth in Melbourne property but spend much of their time in their former home of Nepal where they are helping rebuild a village struck by the 2014 earthquake,” it adds further, “the pair emigrated to Australia in the mid-1990s, forming private education business Melbourne Institute of Technology and buying and refurbishing CBD properties.”

“In 2017 they paid $27.1 million for the Sir Charles Hotham hotel which is occupied until mid-2020, after which Ghale plans to transform the building into a four-star hotel with up to 200 rooms and ground floor retail space. They also have a building project next to the Victoria Markets, where they plan to build apartments and hotel rooms,” a brief on the couple in the website reads.

Ghale was former chairperson of the Non-Nepali Resident association.

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