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Meet the latest Indian billionaire to enter the list of world`s top 100 richest people
The Indian billionaire`s net worth is currently valued at about $19.3 billion. He is currently at the 97th rank in the world`s 100 richest list.
Highlights
- In 2021, he saw a surge of 30% in his wealth.
- Damani runs a hypermarket chain under the name DMart.
- The Mumbai-based retailer runs over 200 DMart stores across the country.
New Delhi: DMart founder Radhakishan Damani has become the latest Indian billionaire to mark his presence in the world's 100 richest list compiled under the Bloomberg Billionaires index. For those uninitiated, Bloomberg Billionaires Index is a list of the world’s richest people that changes almost every day, keeping track of the market and economic movements.
Wealth of Radhakishan Damani
According to the Bloomberg Billionaires’ index, Damani’s net worth is currently valued at about $19.3 billion. He is currently at the 97th rank in the world's 100 richest list. In 2021, he saw a surge of 30% in his wealth, led by the rise of the stock price of DMart in the ongoing calendar year.
Source of Radhakishan Damani’s wealth
Damani runs a hypermarket chain under the name DMart. The Mumbai-based retailer runs over 200 DMart stores across the country, selling food items, clothing and other consumer products.
In the financial year 2020, DMart’s parent firm Avenue Supermarts had reported a revenue of about Rs 25,000 crore ($3.5 billion).
Growth story of Radhakishan Damani
Damani was born in Mumbai, India. Initially, he made his fortune from stock market investments. In the year 2000, he exited the stock market to kick his project which later turned into a multi-billion retail empire.
He opened the first D-Mart store in the year 2002 after acquiring a large piece of land for cheap in Powai, Navi Mumbai. Since then the entrepreneur didn’t turn behind, as D-Mart currently operates 238 retail stores in Maharashtra, Gujarat, Andhra Pradesh, Madhya Pradesh, Karnataka, Telangana, Chhattisgarh, NCR, Tamil Nadu, Punjab and Rajasthan, according to Mint. Also Read: iPhone 13 expected to launch in September
Indian billionaires in Bloomberg Billionaires Index
Besides Radhakishan Damani, the names of Indian billionaires such as Mukesh Ambani, Gautam Adani, Azim Premji, Pallonji Mistry, Shiv Nadar and Lakshmi Mittal are also present on the Bloomberg Billionaires Index. Also Read: Bank holidays August 2021: Banks to be closed for 5 straight days from today, check city-wise list here