Radhakishan Shivkishan Damani, an Indian billionaire investor, businessperson, and the owner of DMart has been ranked 8th on the 2023 Hurun India Rich List.
Radhakishan Damani’s early life and education
Raised in a Maheshwari Marwari Hindu family in a single-room apartment in Mumbai, Radhakishan Damani went to the University of Mumbai to study commerce but dropped out after one year.
After the death of his father who worked on Dalal Street, the billionaire left his ball-bearing business and became a stock market broker and investor.
Radhakishan Damani’s career
For the unversed, Radhakishan Damani made profits by short-selling stocks in the 1990s. In 1995, he was reportedly the largest individual shareholder of HDFC Bank after it went public.
In 1992, when the Harshad Mehta Scam made headlines, Radhakishan Damani witnessed a major rise in his income due to short-selling profits during the time. In 2000, he decided to leave the stock market and started his own hypermarket chain, DMart, setting up the first store in Powai in 2002.
Radhakishan Damani and Rakesh Jhunjhunwala connection
Radhakishan Damani was the mentor of late billionaire investor Rakesh Jhunjhunwala.
Radhakishan Damani’s houses
In 2021, Radhakishan Damani came into limelight for buying a house in Mumbai’s posh Malabar Hill area worth Rs 1000 crore.
Radhakishan Damani’s net worth
The business tycoon has an estimated net worth of net worth is Rs 1.44 lakh crore.
