What is Radhakishan Damani’s Net Worth?
Radhakishan Damani, a prominent Indian billionaire investor and entrepreneur, has an estimated net worth of around $21.4 billion. This substantial wealth is primarily derived from his ownership of Avenue Supermarts Limited, the parent company of the highly successful retail chain DMart, and his strategic investments in various other companies.
Damani initially made a name for himself through astute investments and short-selling strategies during the 1990s. His significant profits from short-selling stocks during the Harshad Mehta scam in 1992 and his early investment in HDFC Bank, where he became the largest individual shareholder after its IPO in 1995, laid the foundation for his financial success. His investment portfolio, which includes stakes in companies such as VST Industries, India Cements, and Andhra Paper, is valued at approximately ₹214,049 crore (US$26 billion) as of June 2024.
In addition to his stock market ventures, Damani’s foray into the retail sector with the establishment of DMart in 2002 significantly boosted his net worth. DMart’s business model, which focuses on owning the land for its stores and offering high-quality products at competitive prices, has proven highly successful.
The company’s IPO in 2017 was a major milestone, further increasing Damani’s wealth and solidifying his reputation as the “Retail King of India”. Today, DMart operates over 300 stores across India, contributing significantly to Damani’s overall net worth.
Here’s the breakdown of Radhakishan Damani’s net worth:
Name: | Radhakishan Damani |
Net Worth: | $21.4 Billion |
Date of Birth: | 12 July 1955 |
Profession: | Businessperson, Investor |
If you’re curious about how we estimate a celebrity’s net worth, you can check out our methodology here.
Early Life
Radhakishan Damani was born in 1955 into a Maheshwari Marwari Hindu family in Mumbai. Raised in a modest single-room apartment, Damani’s early life was marked by simplicity and financial constraints.
He pursued commerce at the University of Mumbai but dropped out after one year to join his father’s ball-bearing business. The untimely death of his father, who was a stock market broker, compelled Damani to shift his focus to the stock market.
Career
Radhakishan Damani’s career in the stock market began in his early 30s, where he quickly made a name for himself through strategic investments and short-selling.
His significant profits during the Harshad Mehta scam in 1992 and his early investment in HDFC Bank, where he became the largest individual shareholder after its IPO in 1995, were key milestones in his career.
In 1999, Damani operated a franchise of Apna Bazaar but was dissatisfied with its business model. This experience led him to establish DMart in 2002, a retail chain that has since grown to over 300 stores across India.
DMart’s IPO in 2017 was a major success, further solidifying Damani’s reputation as a leading figure in the Indian retail industry.
Investments
Radhakishan Damani is renowned for his value investing approach, focusing on long-term investments in high-quality stocks with strong fundamentals. His investment portfolio is diverse, spanning various sectors including retail, cement, tobacco, finance, and hospitality.
Notable holdings include Avenue Supermarts (DMart), VST Industries, India Cements, and Blue Dart Express. Damani’s investment philosophy emphasizes identifying undervalued stocks and holding them for the long term, a strategy that has consistently yielded impressive returns.
As of June 2024, the value of his publicly disclosed investments was approximately ₹214,049 crore (US$26 billion).
Personal Life
Despite his immense wealth and business success, Radhakishan Damani is known for his low-profile and humble lifestyle. He is married to Shrikantadevi Radhakishan Damani, and the couple has three children.
Damani’s personal life is characterized by simplicity and a strong commitment to philanthropy. He has made significant contributions to various charitable causes, particularly in education and healthcare.
Damani’s reserved nature and preference for privacy have earned him the nickname “Mr. White and White” due to his habit of wearing only white clothes.
Ashley Roberts is the founder of Real-Time Billionaires List. She founded this platform because she likes to know how much celebrities are actually making. She is always curious why these people can make much more money than the ordinary person.
With a Bachelor’s degree in finance, she is skilled at financial analysis and understands numbers related to wealth. Most of the articles on this site are edited by herself before publishing.
