Nepal, known for its breathtaking landscapes and rich cultural heritage, is also home to some of the most successful and wealthy individuals. From business magnates to philanthropists, Nepal’s richest have made significant contributions to the country’s economy and development. Here’s a closer look at the top 10 richest people in Nepal:
Top 10 Richest Nepalese
1. Binod Chaudhary
Binod Chaudhary is a widely recognized figure in Nepal due to the diverse range of products from his conglomerate, Chaudhary Group, established in 1968. The group now spans various sectors including consumer goods, education, and real estate among others. The net worth of Chaudhary Group is estimated at $1.14 billion. One of its most famous products is the Wai Wai noodles, available globally. In 2019, Forbes listed Binod Chaudhary as the 1349th richest person globally, with a net worth of $1.7 billion. His prominence is also due to his residence in Nepal and his contributions to the country’s development.
2. Shesh Ghale
Shesh Ghale, with a net worth of $1.18 billion, is the second wealthiest Nepali. He accumulated his wealth through his business venture, Melbourne Institute of Technology (MIT), in Australia. Previously serving as the president of the Non-Resident Nepali Association (NRNA), Ghale is currently the CEO of MIT. Co-founding MIT with his wife, Jamuna Gurung, their success has ranked him as the 78th richest Australian. His notable contributions include aid during Nepal’s 2015 earthquake.
3. Jamuna Gurung
Jamuna Gurung stands as the 8th richest woman in Australia with a net worth of around $260 million. She holds the position of Managing Director at MIT and co-founded it with her husband, Shesh Ghale.
4. Upendra Mahato
Currently residing in Moscow, Russia, Upendra Mahato is the third richest Nepali with a net worth estimated between $250 million to $900 million. He previously held leadership roles in the NRNA and currently heads the Russia-Nepal Chamber of Commerce and Industry. Apart from his multinational business ventures, Mahato is also known for founding a TV factory in Russia and holds a Doctor of Science degree.
5. Ajeya Sumargi
Ajeya Sumargi, Chairman of Muktishree Group of Companies, has a net worth ranging from $20 million to $350 million. His wealth primarily comes from operating Spice Nepal, now known as Ncell, a telecommunications company. He continues to invest in various sectors like hydropower and holds the position of executive director at Nepal Satellite Telecom Pvt. Ltd. While admired for his business acumen, Sumargi has faced controversy related to money laundering.
6. Aditya Jha
Aditya Jha, a successful entrepreneur based in Canada, is known for his software company, Osellus Inc., and for owning Karma Candies. Born in Nepal, he’s also involved in philanthropic activities in Nepal and India, making the country proud through his contributions.
7. Balram Chainrai
Balram Chainrai, known as Balu, made his fortune in Hong Kong through real estate and electronics. He migrated there with his family and started his business journey with Hornington Enterprises Ltd, achieving a net worth of $70 million.
8. Jiba Lamichhane
Jiba Lamichhane, a prominent businessman and writer from Nepal, initially started his career in Russia dealing with multinational companies like Samsung and Sony. He’s now the Managing Director of Techno Trust, a TV manufacturing company, and collaborates with Upendra Mahato on various projects.
9. Pashupati Shumsher Rana
Pashupati Shamsher Rana, known for his political roles in Nepal, is also among the country’s wealthiest individuals. He owns stakes in numerous manufacturing firms and previously owned Nepal Gas, which was sold for approximately 85 crores.
10. Rajendra Khetan
Rajendra Khetan is the executive director of Khetan Group, a well-established company involved in beverage manufacturing and trading in Nepal. The group includes companies like Bottlers Nepal and Laxmi Bank, contributing to Khetan’s increasing net worth.
Conclusion
Nepal’s richest individuals not only showcase the country’s entrepreneurial spirit but also their commitment to philanthropy and national development. From traditional business sectors to technology-driven ventures, these billionaires have diversified interests, contributing significantly to Nepal’s economic growth and prosperity. Their success stories inspire many, demonstrating that with dedication and hard work, anything is possible.