Billionaire investor and business tycoon Radhakishan Damani has climbed three places from 8th spot to become the fifth wealthiest person in India’s rich list in 2022. The 67-year-old seasoned stock market investor and promoter of retail chain DMart saw his wealth climb by 13 percent in one year to reach Rs 1.75 lakh crore, the recently released IIFL Wealth Hurun India Rich List 2022 showed.
The 67-year-old founder of Avenue Supermarts, the company that runs the DMart chain, earned Rs 57 crore per day as per the data. He has seen his wealth increase by a huge margin in the last 5 years. During this time, his wealth grew by 280 percent or Rs 1,28,800 crore.
Apart from being a market ace, Damani is a businessman whose DMart chain has over 200 outlets across the country. Apart from DMart, stakes in which make up most of his wealth, Damani has also invested in VST Industries, Bluedart Express, Metropolis Health Care, 3M India, United Breweries, Trent and India Cement.
Radhakishan Damani was also a close friend of recently deceased market legend Rakesh Jhunjhunwala. In April this year, it was reported that Damani has purchased a Rs 1,001-crore home in Mumbai’s Malabar Hill. The DMart founder has purchased the lavish home along with his brother Gopikishan Damani
READ | Meet 19-year-old Zepto founder Kaivalya Vohra, youngest entry in India’s Rich List 2022 with Rs 1000 cr net worth