Radhakishan Damani is an Indian billionaire businessman and investor who founded the retail company DMart.
Damani has been able to leverage his experience in the stock market to build a successful retail business. His focus on offering affordable products in less expensive locations has been a key factor in DMart’s success. The company’s rapid expansion is a testament to Damani’s business acumen and leadership.
Career
Radhakishan Damani’s career trajectory transitioned from being a broker and trader on the stock market to starting his own retail company, DMart, which has become a major player in India’s retail industry.
Damani dropped out of commerce college after his first year and went to work as a broker and trader on the stock market in the late 1980s.
Damani’s success in the stock market was not the result of formal education in finance or business but rather his own experience and skill.
Damani’s left the stock market in 2000 to start DMart, a retail company focused on offering affordable products in less expensive locations. This strategy has proven successful, as DMart has proliferated over the years and currently operates over 200 stores in 45 Indian cities.
Radhakishan Damani Net Worth
As of April 12, 2023, Radhakishan Damani’s net worth is 15.6 billion USD, ranked 113th on the Forbes list.
Lesser known facts about Radhakishan Damani
Radhakishan Damani was part of a group called the Triple R, which consisted of himself, Rakesh Jhunjhunwala, and Raju. The Triple R group’s ideology was opposite to that of Harshad Mehta, who believed in a bull market.
Radhakishan Damani suffered a significant loss when Harshad Mehta utilized his illegal funds to drive the market up.
Damani is known for his frugal lifestyle and simple living. Despite being a billionaire, he leads a very modest life and avoids ostentatious displays of wealth.
He is an avid reader and has a deep interest in spiritual literature. Damani is known to have a personal library with a vast collection of books on various subjects.
He is known for his love of traditional Indian art and culture, and his personal collection of rare Indian art is considered to be one of the finest in the country.
Radhakishan Damani is a deeply private person and rarely gives interviews or interacts with the media, preferring to let his work speak for itself.
Covid 19 and the rise of billion dollar
Damani’s net worth increased significantly during the COVID-19 pandemic-induced stock market crash in 2020. According to Forbes’ Real-Time Billionaires list, Damani’s net worth increased by over $12 billion from March to December 2020. He was indeed one of the biggest gainers in the Indian stock market during this period.
