Radhakishan Damani’s net worth is $16.7 billion as of February 24, 2023.
So far, Indian billionaires have topped the list of those who will lose the most wealth in 2023 when compared to the world’s richest. Along with Gautam Adani and Mukesh Ambani, who have seen their wealth plummet, another Indian billionaire, Radhakishan Damani, ranks third on the list of top wealth losers year-to-date (YTD).
According to the index, Radhakishan Damani’s net worth is $16.7 billion, down $2.61 billion or more than 13% this year, and he is ranked 98th on the wealthiest list. The Bloomberg Billionaires Index ranks the world’s wealthiest people on a daily basis. The figures are updated at the end of each New York trading day.
Damani owns Avenue Supermarts, a Mumbai-based retailer that specializes in low-cost consumer goods. The publicly traded company sells food, clothing, and other consumer goods in over 200 D-Mart locations across India. Avenue Supermarts shares debuted on Indian exchanges in 2017 and were listed in 2018.
Damani, who was born in Mumbai, India, amassed hundreds of millions of dollars through stock market investments. Radhakishan Damani, also known as RK Damani, is one of India’s most successful investors. He is also known as ‘Mr. White and White’ among India’s top traders. Damani’s portfolio is also managed by his investment firm, Bright Star Investments. He left the stock market in 2000 to start a retail business by purchasing cheap land in Navi Mumbai. In 2002, he opened the first D-Mart location.
Radhakishan Damani and his family founded DMart. Since opening its first store in Powai in 2002, DMart has expanded to 238 locations in Maharashtra, Gujarat, Andhra Pradesh, Madhya Pradesh, Karnataka, Telangana, Chhattisgarh, NCR, Tamil Nadu, Punjab, and Rajasthan. Avenue Supermarts Ltd. owns and operates the DMart supermarket chain (ASL). The company’s headquarters are in Mumbai. ASL owns the brands D Mart, D Mart Minimax, D Mart Premia, D Homes, Dutch Harbour, and others.
