New Delhi: Reclusive investor and billionaire Radhakishan Damani who owns retail chain DMart has broken into the world’s top 100 richest people list. As per Bloomberg Billionaires Index, Damani is now ranked 97 on the richest person in the world list with a total net worth of $19.3 billion or Rs 1.43 lakh crore.
The other Indians on the list are Mukesh Ambani, Gautam Adani, Pallonji Mistry, Shiv Nadar, Azim Premji, Lakshmi Mittal.
It is interesting that his net worth has increased by nearly 60% from $12 billion in 2020 to $19.3 billion in 2021. Avenue Supermarts shares have rallied 61% in the last year. Avenue Supermarts has been among the favorite stocks of the traders. As per the reports, the organisations digital services are doing good to give tough competition to e-commerce giants.
Damani was raised in a Marwari family living in a single-room apartment in Mumbai. He went to study commerce at the University of Mumbai but got dropped out just after one year.
After the death of his father who used to work in Dalal Street, Damani left his ball-bearing business to become a stock market broker. In the year 1992, Damani came into the limelight after Harshad Mehta Scam.
Radha Kishan Damani took a big decision like starting his own hypermarket chain D-Mart in the year 2000. Established the first store in Powai in 2002. The chain opened 25 stores in 2010. After this, the company grew rapidly and went public in the year 2017. After that, he never looked back.