Rich Persons of the Indian Stock Market
India is at the third position in the world in terms of the number of billionaires. It has 131 billionaires in 2018 according to the Forbes list and Shanghai-based Hurun report. India comes after China and the United States in this list. Last year, in 2017, this number was 101. The addition of 30 more this year was due to the overwhelming performance of Indian stock markets. In this post, we will introduce the rich persons of the stock market in India whose primary business is related to stock market investments.
So find below the top rich persons of the Indian stock market.
#1. Radhakishan Damani
Radhakishan Damani is a veteran investor from Mumbai. At a younger age, he started a ball-bearing business. His father was a sub-broker in the stock market. After the unexpected death of his father, he could not complete his graduation and got involved in his fathers business to meet the family’s financial needs. Later on, he moved into stock markets and invested into stock first time at the age of 32. In the starting phase, he was not interested in the stock market. He influenced by Manu Manek, the don of the Dalal Street in the 1980s, he started taking interest in stock investment and trading.
In the years around 1992, the market was in the dark due to Harshad Mehta scam, Damani has proved his capabilities as a successful investor as he had anticipated that scam. At that time, he not only saved all his investments but he earned a lot when others were losing. In 2002, he entered into the retail business and founded DMart, a supermarket, which currently has 160 stores across India. With the launch of IPO of DMart as Avenue Supermarket, Damani jumped to the 11th position in India’s richest person list and to the 151st position in world’s richest person list. Currently, at the age of 63, his net-worth is 10.4 Billion US Dollar.
#2. Rakesh Jhunjhunwala
Rakesh Jhunjhunwala is known as India’s Warren Buffett. He is so much famous in India that everyone who starts investing in stock market, dreams to be another Rakesh Jhunjhunwal. He is a role model of crores of Indian investors. He is such a successful person that many investors follow his portfolio. His father was an income tax officer and interested in the stock market. According to Junjhunwala, when he was young, his father used to discuss the stock market with his friends while drinking with them in the evening. He learnt many fundamentals of the stock market from his father. After completing his graduation, he became a Chartered Accountant in 1985.
His father wanted him not to enter in the stock market and continue as Chartered Accountant. But he never forced Jhunjhunwala and permitted him to chose his career. In 1985, he started the investment with Rs 5000/- and at the same time, the SENSEX was 150 points (which is currently around 35000 points). There are many stories on his investment and career for which this blog will be shorter. He runs a trading firm RARE Enterprises which is named after the first two letters of his name and first two letters of his wife’s name. His wife’s name is Rekha Jhunjhunwal. At the age of 58, his net-worth is 3 Billion US Dollar.
#3. Ramesh Damani
Ramesh Damani is one of the most successful investors and top rich persons of the Indian stock market. He started investing in the 1990s when the SENSEX was 600 points. He inspired by his father who used to be a successful stock investor. He wanted to be a stockbroker, but later he motivated in direct investment into the stock market. He runs a privately owned firm Ramesh S Damani Finance Private Limited. At the age of 62, his net worth is around 1.3 Billion US Dollar.
#4. Raamdeo Agrawal
Raamdeo Agrawal is also one of the most successful investors and top rich persons of the Indian stock market. He is one of the billionaires who started from zero. He is known to have real skill in identifying multibagger stocks. He grew up in a middle-class family in a remote village of Chhatisgarh with no electricity and proper roads. After completing his study he became a chartered accountant and started his career in Mumbai. Raamdeo Agrawal and Motilal Oswal founded a firm named Motilal Oswal Financial Services, a well-known financial company in India. The company doubled its shares in the past year and currently offers a range of financial services. At the age of 59, his net worth is 1 Billion US Dollar.
The above is a very limited list of top rich persons of the Indian stock market. There are few more successful investors in the stock market. Due to inappropriate data from unauthorized sources available on the internet, we cannot explain them in detail. So we are just listing those famous names below.
#5. Dolly Khanna and Rajiv Khanna
#6. Nemish Shah
#7. Chandresh Nigam
#8. Samir Arora
Tags: #Rich person #Billionairs
