D-mart Owner RK Damani In Top 100 Richest People In World

By Tharini Ilanchezhian

The billionaire investor Radhakrishnan Damani, the owner of the D-Mart, a retail chain has took it to the list of 100 top richest people in the world. The Bloomberg Billionaire Index has listed him in the 98^th position with a lavish net-worth of $19.2 billion. The Bloomberg Index has a good share of Indians who hold a ranking in the list which includes Mukesh Ambani, Gautam Adani, Azim Premji, Lakshmi Mittal, Shiv Nadar and Pallonji Mistry.

Mr RK Damani, as a young boy, grew up in a very simple family and has now achieved the position of 98^th rank in the 100 richest people of the world, according to the news agency IANS. He was raised in a simple Marwari family in a compact one-room apartment in Mumbai. He took admission for his undergraduate degree in commerce at the Mumbai University.

RK Damani's father worked in the Dalal Street. After his father died, he left back his business of ball bearing and came to the world of stock market as a broker and investor. The market boomed after the Harshad Mehta's Scam 1992 came to limelight.

After a while, he also left the job of a broker. Leaving the stock market, RK Damani who has always been a part of the success stories of others by being an investor, now wanted to create his own success story by starting his big business. Such an initiative is the start of his hyper-market chain D-mart in the year 2000. The company established its first store in the 2002, at Powai. In the year 2010, a total of 25 stores were opened. The company that had tremendous reach went public in the year 2017 and there was never looking back.

In the year 2020, he rightfully became the fourth richest Indian with a total net-worth of $1650 million. The billionaire has always chosen to live a low profile and has always stayed out of the headlines of the media.

He has taught some highly valued investing techniques to Rakesh Jhunjhunwala, an Indian billionaire.