IntelScoops

COLOMBO — Ishara Nanayakkara, chairman of LOLC Holdings, has been named Sri Lanka’s richest individual, with an estimated net worth of 1.6 billion US dollars, according to a recent ranking published by Gulf News, a United Arab Emirates-based media outlet.

The report highlights Nanayakkara’s rise to the top spot, overtaking Dhammika Perera as the island nation’s wealthiest person. LOLC Holdings, a diversified financial services and investment conglomerate, operates across more than ten countries, with significant footprints in microfinance and insurance sectors. Nanayakkara’s strategic leadership has been credited for expanding Sri Lanka’s presence in these global markets.

Neighboring Nepal’s wealthiest is Binod Chaudhary, chairman of CG Corp, also estimated at 1.6 billion dollars. Best known for the popular Wai Wai noodles brand, Chaudhary’s conglomerate spans electronics, hospitality, and real estate sectors. Despite Nepal’s smaller economy, the publication notes Chaudhary’s multinational reach as a notable South Asian success story.

In Bangladesh, Mossa Bin Shamsher is reported as the richest individual with assets claimed to be around 12 billion dollars. While these figures lack verification from international financial rankings like Forbes, Shamsher remains a prominent public figure known for his lavish lifestyle, political ties, and philanthropic activities.

Pakistan’s richest person was identified as Shahid Khan, a Lahore-born Pakistani-American billionaire with assets approximated at 13.5 billion dollars. Khan built his fortune through Flex-N-Gate, an auto parts manufacturer. Within Pakistan itself, Mian Muhammad Mansha, chairman of Nishat Group, is often cited as the wealthiest resident, with an estimated net worth of 3 billion dollars. His business interests cover textiles, banking through MCB, and power generation.

The report also places India’s Mukesh Ambani at the top of South Asia’s wealth list, with an estimated 118 billion dollars in assets. Ambani leads Reliance Industries, with diversified holdings in telecom through Jio, energy, petrochemicals, and retail.

While Gulf News’s rankings provide insight into South Asia’s business elite, some figures remain unofficial and have not been independently verified by global financial authorities. Nonetheless, the profiles underscore the growing influence of regional entrepreneurs on both local and international economic landscapes.