Zerodha's Nithin and Nikhil Kamath are new entrants on the Forbes billionaires list 2023. They rank at...

Zerodha's Nikhil and Nithin Kamath are the newest entrants to the Forbes 2023 billionaires list.

Zerodha co-founders, Nithin and Nikhil Kamath, have made it to the Forbes 2023 billionaires list as new entrants this year. Nithin Kamath, who is the CEO of the company, has been ranked at 1104 with a whopping $2.7 billion in wealth, while his brother Nikhil Kamath has been placed at rank 2405 with $1.1 billion in wealth.

Zerodha, which was founded by the Kamath brothers in 2010, is a popular Indian financial services company that offers discount brokerage services for trading in stocks, currencies, and commodities. The company has disrupted the traditional brokerage industry in India by offering low-cost, user-friendly trading platforms to its clients.

Nithin and Nikhil Kamath's journey to becoming billionaires has been nothing short of inspiring. They grew up in a middle-class family in Bangalore, and their interest in the stock market started at a young age. Nithin dropped out of college to pursue trading full-time, while Nikhil went on to complete his studies and started working in the corporate sector.

In 2010, the brothers came together to start Zerodha, with the aim of making trading accessible and affordable for everyone. The company's innovative business model, which charges a flat fee per trade instead of a percentage of the trade value, quickly gained popularity among traders in India.

Over the years, Zerodha has grown into one of the largest retail brokerage firms in India, with over 6 million clients and daily trading volumes of over $10 billion. The company has also expanded into other areas of financial services, including mutual funds, insurance, and digital gold.

Also on the Forbes list is Mukesh Ambani at rank 9, the only one from India in the top 10. Gautam Adani is at 24 while Shiv Nadar is at 55.

The United States has the most billionaires, with 735 list members worth a collective $4.5 trillion. China (including Hong Kong and Macau) remains second, with 562 billionaires worth $2 trillion, followed by India, with 169 billionaires worth $675 billion. Bernard Arnault of LVMH (commonly Louis Vuitton) is the richest man in the world with Elon Musk at rank 2.