At the zenith of Nepal’s economic landscape, a select group of visionaries has not only amassed personal wealth through entrepreneurial acumen but has also significantly influenced the nation’s business terrain. This article unveils the narratives of Nepal’s top 5 richest businessmen, exploring the businesses that underpin their success and the philanthropic ventures that characterize their legacies. Against the backdrop of Nepal’s rich cultural diversity and stunning landscapes, these economic leaders play a pivotal role in shaping the nation’s narrative of progress and prosperity.
Nepal’s Top 5 Richest Businessmen
Binod Chaudhary, a prominent entrepreneur from Nepal, has attained billionaire status with an impressive net worth of USD 1.05 billion, making him the wealthiest individual in Nepal. This accomplishment marks a historic milestone in Nepal’s business landscape. Chaudhary embarked on his entrepreneurial journey at the age of 19 with his involvement in Copper Floor, a nightclub in Kathmandu. Presently, he serves as the Chairman of CG Corp Global, a multinational conglomerate with diverse business interests. CG Corp Global operates in various industries such as banking, consumer goods, education, hotels, electronics, energy, and medicine. Under Chaudhary’s leadership, the conglomerate has made a significant impact in these sectors, showcasing his strategic vision and entrepreneurial acumen. The conglomerate oversees 136 companies spanning different sectors, including well-known brands like ‘Wai Wai Noodles and Nabil Bank in Nepal. Additionally, it manages 143 hotels, including prestigious five-star establishments in partnership with Taj Hotels of India.
Shesh Ghale, a Nepalese billionaire based in Australia, held the position of NRNA president and currently stands as Nepal’s second wealthiest individual, boasting a net worth of around $1.18 billion. His expertise lies in the fields of education and hospitality. Ghale, along with his wife Jamuna Gurung, co-founded the Melbourne Institute of Technology (MIT) in Australia, offering undergraduate and postgraduate programs. They have played a significant role in enhancing Nepal’s hospitality sector. The founders of MITU are committed to delivering high-quality education in Nepal. Additionally, they manage the well-regarded Everest Hotel in Kathmandu, catering to both national and international guests. Shesh Ghale’s success serves as a testament to the entrepreneurial spirit and determination of Nepali individuals on the global stage. His achievements extend beyond business to include philanthropy, showcasing a well-rounded contribution to society.
Jamuna Gurung holds the distinction of being the wealthiest woman in both Nepal and Australia, boasting a net worth of USD 260 million. Originally from Nepal and educated in Australia, she serves as the executive director and managing director of the Melbourne Institute of Technology in Victoria, Australia—an institution she co-established with her husband, Shesh Ghale. Jamuna Gurung is renowned for her significant contributions to the fields of education and hospitality in both Nepal and Australia. Beyond her professional endeavors, she actively engages in philanthropy, supporting various causes in Nepal, including education, healthcare, and disaster relief. Gurung’s philanthropic efforts have had a positive and transformative impact on numerous lives in Nepal.
Upendra Mahato, a prominent Nepali entrepreneur, possesses a net worth ranging from $250 million to $900 million. He has played a pivotal role in the fields of banking, telecommunications, and energy, establishing himself as a key figure in the business domain. As the chairman of the Mahato Group, a diversified conglomerate with extensive business interests, Mahato has made substantial investments in Nepal and internationally. The Mahato Group operates in Nepal, India, and Russia, focusing on finance, telecom, infrastructure, and real estate. In addition to his business ventures, Mahato is renowned for his philanthropic efforts, particularly in improving education, healthcare, and social welfare in Nepal. Through his foundation, he actively supports various education programs and projects. Upendra Mahato’s success is attributed to his entrepreneurial acumen, visionary leadership, and positive impact on society. He holds a prominent position in both Nepal’s business and philanthropic landscapes.
Ajay Sumargi, the chairman of the Muktishree group of companies, is recognized as the fifth wealthiest individual in Nepal, boasting a net worth of USD 200 million. Additionally, he holds the position of executive director at Nepal Satellite Telecom Pvt. Ltd. In the business and commercial sector, Sumargi has undertaken significant investments in various projects within Nepal. These ventures include Muktishree Hydropower, Himalayas Spring Water, Hetauda Academy, and the National College of Higher Education.