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SL tycoon on Gulf News South Asia rich list

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South Asia’s billionaire titans: Mukesh Ambani, Shahid Khan, Mossa Bin Shamsher, Binod Chaudhary, and Ishara Nanayakkara — leaders of wealth across five nations. (Image courtesy Gulf News)

Sri Lankan businessman Ishara Nanayakkara is among South Asia’s wealthiest individuals in the Gulf News 2025 rich list, with an estimated net worth of USD 1.6 billion.

The ranking places Nanayakkara alongside some of the region’s most prominent tycoons, led by India’s Mukesh Ambani, whose staggering USD 118 billion fortune towers over the rest. Ambani’s wealth is nearly 10 times greater than that of Pakistan’s Shahid Khan (USD 13.5 billion), who ranks second.

Others on the list include Bangladesh’s Mossa Bin Shamsher (who claims USD 12 billion) and Nepal’s Binod Chaudhary (USD 1.6 billion).

According to Gulf News, Ambani’s dominance underscores India’s outsized presence in the region’s billionaire club, but Nanayakkara’s inclusion marks a rare Sri Lankan appearance in a ranking long dominated by Indian and Pakistani magnates.

Full text of Gulf News report: As of 2025, Mukesh Ambani, chairman and managing director of Reliance Industries, continues to be the wealthiest person in India and South Asia, with a staggering net worth estimated at $118 billion. His diversified empire spans telecom (Jio), energy, petrochemicals, and retail, cementing his position as a global business magnate. But how does Ambani’s wealth compare to the wealthiest individuals in neighbouring South Asian countries like Pakistan, Nepal, Sri Lanka, and Bangladesh?

Pakistan: Shahid Khan — $13.5 Billion: Shahid Khan, a Pakistani-American billionaire based in the U.S., is widely recognised as the wealthiest person of Pakistani origin. Born in Lahore, Khan made his fortune through Flex-N-Gate, an auto parts company. He also owns the Jacksonville Jaguars (NFL) and Fulham F.C. (UK football). His estimated net worth is $13.5 billion. In Pakistan itself, the wealthiest resident businessman is often cited as Mian Muhammad Mansha, with a net worth of around $3 billion. He heads the Nishat Group, involved in textiles, banking (MCB), and power generation.

Bangladesh: Mossa Bin Shamsher — Claims $12 Billion: In Bangladesh, Mossa Bin Shamsher is a well-known and controversial figure, often referred to as the wealthiest man in the country. He claims a net worth of over $12 billion, primarily from international arms brokerage and global business investments. However, these figures remain unverified by global financial rankings like Forbes. Regardless, Mossa remains a public figure known for his lavish lifestyle, political connections, and philanthropic efforts.

Nepal: Binod Chaudhary — $1.6 Billion: Nepal’s only billionaire, Binod Chaudhary, has a net worth of approximately $1.6 billion. Best known for his Wai Wai noodles brand, Chaudhary heads the Chaudhary Group (CG Corp Global), which operates in sectors ranging from FMCG and electronics to hospitality and real estate.Despite operating in a smaller economy, Chaudhary has managed to build a multinational presence, making him a unique success story in South Asia.

Sri Lanka: Ishara Nanayakkara — $1.6 Billion: As of 2025, Ishara Nanayakkara has emerged as Sri Lanka’s wealthiest person, overtaking Dhammika Perera. With a net worth of around $1.6 billion, he leads LOLC Holdings, a diversified financial services and investment conglomerate with operations in over 10 countries. Nanayakkara has played a pivotal role in expanding Sri Lanka’s presence in the global microfinance and insurance sectors.

The Wealth Gap: Ambani in a league of his own. Despite the wealth and influence of these regional billionaires, Mukesh Ambani’s net worth dwarfs all others in South Asia. His $118 billion fortune is nearly 10 times that of Shahid Khan and far beyond the combined wealth of top tycoons in Bangladesh, Nepal, and Sri Lanka.Whether measured by business scale, global influence, or verified wealth, Ambani stands alone as the undisputed financial powerhouse of the region.



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A QR code system to be introduced for agricultural lands and other sectors requiring fuel

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It was decided at the committee appointed to oversee the distribution of essential goods to appoint five officials from the Ceylon Petroleum Corporation to cover all ministries in order to examine fuel-related issues and undertake the necessary interventions.

It was further discussed that the responsibility of these officials would be to examine fuel-related issues arising in institutions under each ministry and to intervene in providing solutions by maintaining coordination with the Corporation.

These matters were discussed at a meeting of the committee appointed to oversee the distribution of essential goods, chaired by Minister of Transport, Highways and Urban Development Bimal Rathnayake held on Friday (27) at the Presidential Secretariat.

It was also noted, with particular attention, that requests have been made by industrialists indicating that the current fuel quota allocated to vehicles for the distribution of their products across the country is insufficient. It was further discussed that, if these concerns are not addressed, there is a likelihood of an increase in the prices of goods, which could in turn cause significant hardship to the public during the festive season.

The committee also discussed the issuance of fuel for the distribution of essential food items by state and private institutions, including supermarkets such as Sathosa, wholesale importers, tourism-related service providers, hotels and other service-providing organisations.

Accordingly, it was discussed that requests for fuel quotas submitted by these institutions should be carefully considered and prompt action taken as necessary and that such requests should be forwarded to the Ministry of Energy through the relevant ministries.

Attention was also drawn to the need for the swift implementation of a QR code system for the issuance of fuel to other sectors, including agriculture and the fisheries industry, based on letters issued on the recommendations of the relevant government officials, including agricultural research officers, instead of the previous method of direct fuel allocation.

Minister Bimal Rathnayake emphasised the need to ensure a continuous and properly managed fuel supply, with particular focus on providing goods to the public without shortages and preventing excessive price increases during the forthcoming Sinhala and Hindu New Year season.

The discussion was attended by a group of government officials, including Minister of Trade, Commerce, Food Security and Cooperative Development Wasantha Samarasinghe, Deputy Minister of Power Arkam Ilyas, Senior Additional Secretary to the President, Kapila Janaka Bandara and Chairman of the Ceylon Petroleum Corporation, D. J. Rajakaruna.

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Inquiry into female employee’s complaint: Retired HC Judge’s recommendations ignored

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Speaker Wickramaratne receiving the report from retired HC Judge Alahapperuma. Secretary General of Parliament Rohanadeera stands next to the Speaker (file photo)

Parliament:

… sexual harassment claims dismissed

Recommendations made by retired High Court Judge Ms. Sujatha Alahapperuma, following an inquiry into claims by a female employee of the Department of Information Systems and Management of Parliament, regarding sexual harassment, denial of due salary increments and other forms of harassment, were yet to be implemented, sources familiar with the investigation said.

The retired HC Judge handed over the report to Speaker Dr. Jagath Wickramaratne on 24 November, 2025. Secretary General of Parliament Kushani Rohanadeera was also present on that occasion.

The retired judge has recommended that administrative decisions be taken expeditiously to grant her salary increments due for 2024 and 2025, reevaluation of all employees attached to the Department of Information Systems and Management and keep them under close scrutiny and strengthening of the ‘Helpdesk’ to meet the requirements.

Sources said that none of the recommendations have been implemented and the concerned employee in spite of still being the Senior Helpdesk coordinator remained attached to the Supplies and Services Office. She had been ordered to report to the Supplies and Services Office in January 2025 following a continuing dispute with the top management of the Department of Information Systems and Management.

Parliamentary Staff Advisory Committee on 25.07.2025 decided to conduct an external investigation into the issue after the employee refused to accept the outcome of the internal inquiry conducted in the wake of SJB lawmaker Mujibur Rahman raising the issue in Parliament.

The retired judge has emphasised the urgent need to take tangible measures to address administrative issues with a view to enhance discipline and human resources management among other issues.

However, the retired judge has declared that the complainant or any other female employee attached to the of Department of Information Systems and Management hadn’t been subjected to any form of sexual harassment as alleged.

The retired judge further asserted that the complainant had been prejudicially treated by two interview boards when she appeared before them seeking posts of Database Administrator and Parliament Officer.

The retired judge has also asserted that the Supplies and Services Office where the complaint continued to serve even now was not suitable and not in line with her qualifications. Some of those who had appeared before the retired judge during the inquiry claimed that was a temporary transfer. However, the report dismissed that claim declaring that transfer appeared to have been done outside acceptable procedure and her increments stopped without giving any justifiable reason.

The retired judge has stated that for want of proper procedures and systems, the administration seems to be in turmoil.

 By Shamindra Ferdinando

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Motor Traffic CG remanded

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Motor Traffic Commissioner General Kamal Amarasinghe, taken into custody by the CID, was remanded until today (30) following his production before the Kurunegala Magistrate’s Court.

The investigation was launched after the Central Anti-Corruption Task Force received information regarding an illegally assembled taxi, which was later handed over to the CID for further inquiries.

Preliminary findings revealed that the vehicle’s registered chassis number had been altered and documents submitted to obtain a “weight certificate.” These documents were then used to assign a registration number to the taxi, while the chassis modification files were concealed. False declarations were allegedly made to facilitate the fraudulent assembly, with Commissioner General Amarasinghe accused of aiding and abetting the operation.

The suspect was taken into custody on the afternoon of Friday (27) by a CID team at the Hector Kobbekaduwa Road, Colombo 7.

In parallel, the Bribery and Corruption Commission has launched a separate probe into the matter.

The initial investigation was conducted under the direction of  SSP Indika Weerasinghe, Head of the Central Anti-Corruption Task Force, along with DIG Rohan Olugala and Senior DIG of CID Kamal Ariyawansa.

BY Norman Palihawadane

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