Reclusive investor and billionaire Radhakishan Damani who owns retail chain DMart is now among the many 100 richest individuals on the planet.
Damani, who grew up in a humble background is now ranked 98 on the Bloomberg Billionaires Index with a internet price of $ 19.2 billion.
The Bloomberg Billionaires Index is a every day rating of the world’s richest individuals.
The different Indians within the prime 100 are Mukesh Ambani, Gautam Adani, Azim Premji, Pallonji Mistry, Shiv Nadar, Lakshmi Mittal.
Damani was raised in a Marwari household in a single room condominium in Mumbai. He studied commerce on the University of Mumbai however dropped out after one yr.
After the demise of his father who labored on Dalal Street, Damani left his ball bearing enterprise and have become a inventory market dealer and investor.
In the yr 1992, after the Harshad Mehta Scam got here to limelight, he noticed a serious rise in his earnings as a result of short-selling income through the time.
He give up the inventory market in 2000 to start out his personal hypermarket chain, DMart, organising the primary retailer in Powai in 2002. The chain had 25 shops in 2010, post-which the corporate grew quickly and went public in 2017.
Damani retains a low profile and barely provides any interviews. He has additionally taught his inventory buying and selling methods to Indian billionaire Rakesh Jhunjhunwala.
In 2020, he grew to become the fourth richest Indian with a internet price of $16.5 billion. He was ranked #117 on the worldwide listing of billionaires.
