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Radhakishan Damani, a reclusive investor, and billionaire who owns the retail chain DMart have been named one of the 100 richest people in the world. Damani, who grew up in a humble family, is ranked 98th on Bloomberg's billionaire's Index with a net worth of $ 19.2 billion.

Other Indians on the Top 100 list are Gautam Adani, Mukesh Ambani, Pallonji Mistry, Azim Premji, Lakshmi Mittal, and Shiv Nadar. The Bloomberg Billionaires Index is a daily ranking of the richest people in the world. In 2020, Radhakishan Damani also became the richest in India with a fortune of $ 16.5 billion. He was ranked 117th on the world's list of billionaires.

The net worth of Radhakishan Damani

Radhakishan Damani is now the 98th richest person in the world, according to the Bloomberg Billionaires Index. The promoter and owner of Avenue Supermarts, the company that operates DMart retail, has a total net worth of $19.3 billion, or Rs. 1.43 lakh crores.

Damani's net worth has increased by nearly 60% over the past 18 months, from $ 12 billion as of March 1, 2020, to $ 19.3 billion today. Notably, Avenue Supermarts shares are up 61% over the past year, as the company has nearly recovered from the impact of the pandemic that led to a nationwide lockdown in 2020 and localized lockdowns in the second wave of COVID-19 earlier in 2021.

About Radhakishan Damani

Radhakishan Damani was raised in a single-room apartment in Mumbai by a Marwari family. He studied Commerce at Mumbai University for a year before dropping out. Damani decided to leave his ball-bearing business after the death of his father, who worked on Dalal Street, and become a stock market broker and investor.

Damani's income increased significantly after the Harshad Mehta scam became public in 1992, owing to short-selling profits made at the time. He left the stock market in 2000 to launch his own hypermarket chain, DMart, with the first store opening in Powai in 2002. The chain had 25 stores in 2010, after which it grew rapidly and went public in 2017. Radhakishan Damani who rarely gives any interviews and keeps a low profile also taught his stock trading techniques to the Indian billionaire Rakesh Jhunjhunwala.

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