DMart owner Radhakishan Damani enters list of world's 100 richest people with net worth of $19.2 billion

File image of Radhakishan Damani

Radhakishan Damani, the owner of India's leading retail chain DMart, has entered into the list of world's 100 richest people with a net worth of $19.2 billion.

Damani has been placed at the 98th spot in the list compiled by Bloomberg Billionaires Index. In the past year, he was placed at 117th spot.

The other Indians in the top 100 wealthiest individuals' list are Mukesh Ambani, Gautam Adani, Azim Premji, Pallonji Mistry, Shiv Nadar and Lakshmi Mittal.

Damani, known as a reclusive investor and billionaire, was raised in a Marwari family in a single room apartment in Mumbai. He studied commerce at the University of Mumbai but dropped out after one year.

Also Read | DMart acquires commercial building for Rs 71.5 crore in Mumbai’s Goregaon West

After the death of his father who worked on Dalal Street, Damani left his ball bearing business and became a stock market broker and investor.

He quit the stock market in 2000 to start his own hypermarket chain, DMart, setting up the first store in Powai in 2002. The chain had 25 stores in 2010, post-which the company grew rapidly and went public in 2017.

Damani keeps a low profile and rarely gives any interviews. He has also taught his stock trading techniques to Indian billionaire Rakesh Jhunjhunwala.

In 2020, he became the fourth richest Indian with a net worth of $16.5 billion.