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Meet Radhakishan Damani- India’s Second Richest Person | The Youth Special

Almost everyone is curious to know how much the big personalities earn for a luxurious living. The first question we ask is what is his or her total net worth? What’s his or her monthly income? Well, there are people who earn per day, per week and even per hour as well.

Based on the capacity and work ethics, earnings vary from person to person. It doesn’t matter how hard a person works but it’s how you decode even the toughest of things to make it much simpler and qualify the standards of smart work. These credentials would certainly uplift your earnings.

Recently, Forbes’ Real-Time Billionaires Index showed that last week that Radhakishan Damani who is founder of retailer Avenue Supermarts, has become India’s second-richest person with a net worth of $17.8 billion. The entire nation is talking about this man who is known for his simplicity.

Credits: Money Control

Last year, he was featured on the list of top ten richest people in the world. He was placed seventh on the list with $14.3m. But now that, he gained places to reach the best position of his career. Let’s learn more about the Radhakishan Damani and his journey to success.

Talking about his education, Radhakishan Damani is a college dropout. Yes, you read it right. In fact, he is a 12th pass out. He went to College of Mumbai for 1 year for his B.Com. And after the initial year, he dropped out and never went to college.

Talking about the early days of his career, Radhakishan Damani initially started his career with ball bearing business. Then a tragedy struck him as his father passed away and because of that, he had to shut down his business and eventually joined his brother in the stock-broking business. This was the turning point of his life.

Radhakishan Damani, who was a pretty good observer understood how the stock market actually works and also started investing. He considered value investor Chandrakant Sampat as his Guru, but before following him, he had used the tactics of short selling which he learnt by observing Harshad Mehta. After earning quite a huge amount from short selling, he then moved on to the long term investment strategy which put him in the list of great value investors in India.

His life changed dramatically after entering into hypermarket business

Radhakishan Damani had entered into hypermarket business with purchase of a cooperative store chain Apna Bazaar’s franchise. After learning the business, he started his own hypermarket store DMart in the year 2002 in Powai, and it was then the fortune turned for him.

He entered into hypermarket business when real estate prices were pretty much low. He started purchasing many stores.

Today, DMart has a well-established set-up in 196 locations across Maharashtra, Gujarat, Andhra Pradesh, Madhya Pradesh, Karnataka, Telangana, Chhattisgarh, NCR, Tamil Nadu, Punjab and Rajasthan. DMart is also planning to expand its presence across the country.

Written by Sagar Abhinandan

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