DMart owner Radhakishan Damani enters top-100 billionaires list

New Delhi: Reclusive investor and billionaire Radhakishan Damani who owns retail chain DMart is now among the 100 richest people in the world.

Damani, who grew up in a humble background is now ranked 98 on the Bloomberg Billionaires Index.

The Bloomberg Billionaires Index is a daily ranking of the world’s richest people.

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The other Indians in the top 100 are Mukesh Ambani, Gautam Adani, Azim Premji, Pallonji Mistry, Shiv Nadar, Lakshmi Mittal.

Background of DMart owner Radhakishan Damani

Damani was raised in a Marwari family in a single room apartment in Mumbai. He studied commerce at the University of Mumbai but dropped out after one year.

After the death of his father who worked on Dalal Street, Damani left his ball bearing business and became a stock market broker and investor.

In the year 1992, after the Harshad Mehta Scam came to limelight, he saw a major rise in his income due to the short-selling profits during the time.

He quit the stock market in 2000 to start his own hypermarket chain, DMart, setting up the first store in Powai in 2002. The chain had 25 stores in 2010, post-which the company grew rapidly and went public in 2017.

Damani keeps a low profile and rarely gives any interviews. He has also taught his stock trading techniques to Indian billionaire Rakesh Jhunjhunwala.

Sixth richest person in India

Currently, he is the sixth richest person in India. His net worth is $19.2 billion.

In 2020, he became the fourth richest Indian with a net worth of $16.5 billion. He was ranked #117 on the global list of billionaires.

Top 10 richest persons in India

As per Bloomberg Billionaires Index, with a net worth of $82.3 billion, Mukesh Ambani of Reliance Industries Ltd. (RIL) continues to be the richest person in India. The list of the top 10 richest persons in India is as follows:

NameNet worth
Mukesh Ambani$82.3 billion
Gautam Adani$54.5 billion
Azim Premji$37.1 billion
Shiv Nadar$28.5 billion
Lakshmi Mittal$22.4 billion
Radhakishan Damani$19.2 billion
Uday Kotak$14.8 billion
Cyrus Poonawalla$14.3 billion
Dilip Shanghvi$13.7 billion
Savitri Jindal$12.8 billion

With a net worth of $12.8 billion, Savitri Jindal continues to be the richest woman in India.

With inputs from agencies

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