Radhakishan Damani Biography, Wife, Age, Net Worth, Career, House

Know more facts about Radhakishan Damani ’s Age, Family, Biography, Relationships, and Career. Keep reading more to get interesting about Radhakishan Damani

Profile Summary

Biography

Radhakishan Shivkishan Damani is an Indian business magnate and billionaire investor who founded Avenue Supermarts Limited. Bright Star Investments Limited his investment firm also manages his portfolio. Bloomberg Billionaire Index ranked him #98 richest person in the world on August 19 2021.

The universe like Radhakishan Damani always yields to a stubborn heart. The man is a successful entrepreneur and investor. Radhakishan Damani is a Mumbai-based billionaire who owns DMart India's third-largest mega-retail chain. Dalal Street is now ruled by a humble Mumbai trader.

Age

Radhakishan Damani is aged 67 years old as of 2022. Radhakishan Damani was born on 12 July 1954 in Bikaner Rajasthan. His zodiac sign is Cancer.

Education

He studied commerce at the University of Mumbai for a year before dropping out.

Family

Shivkishanji Damani was his father and he worked in the stock market as well. Gopikishan Damani is his brother. Radhakishan is married to Shrikantadevi Radhakishan Damani and they have three daughters. Manjri their daughter is the manager of 'DMart.'

Career

As a stock trader he began his career in the ball-bearing industry. He had previously expressed no interest in the stock market business. However his father's death forced him to enter the stock market. In the 1990s he made money by short-selling stocks.
 
Damani reportedly became HDFC Bank's largest individual shareholder after it went public in 1995. After the Harshad Mehta Scam was exposed in 1992 he saw a significant increase in his income due to short-selling profits at the time.

 Radhakishan founded 'DMart.' in 1999 because he has a thorough understanding of consumer companies. With little experience in a similar occupation Radhakishan and Damodar Mall purchased a franchise of Apna Bazaar a cooperative organisation founded in Mumbai in 1948.

After two years Radhakishan decided to launch 'DMart' and take over 'Apna Bazaar.'When D-Mart first opened in Mumbai in 2002 he had only one store but with his success he now has about 160 stores across the country. With a net worth of $16.5 billion in 2020 he will be the fourth-richest Indian. On the global list of billionaires he was ranked #117. With a net worth of $18.9 billion he was ranked #87 on the Forbes global list of billionaires 2022

Networth

Radhakishan Damani has an estimated net worth of $21.3 billion. He owns Audi BMW and Rolls-Royce cars. In Mumbai Radhakishan Damani lives in a 1 000 crore INR mansion. He also owns a resort in Alibag and a number of other properties in and out of India.

16 Interesting facts about Radhakishan Damani

• RD dropped out of college in his first year to start his ball-bearing business and his father and brother worked as stockbrokers on Dalal Street.
• Mr. Damani was forced to close his business after his father died unexpectedly and join his brother as a stockbroker. At the age of 32 he made his first financial investment.
• Manu Manek the dreaded bear ruled the market during RD's early years on Dalal Street (nicknamed the Cobra by the brokers who disliked him). Manu Manek taught Radhakishan how to short stocks and he later used the same strategies to short the overpriced stocks of the Big Bull Harshad Mehta.
• Mr. Damani was not well-liked in the 1980s. Stockbrokers used to refer to him as 'GS ' because it was written on his entry badge (used to enter the trading ring).
• RD was reportedly a member of the 'triple-R' group in the late 1980s. The group included Radhakishan Damani a chartist named Raju and Rakesh Jhunjhunwala the future Big Bull of the stock market. Triple-R was famous for perpetuating the bearish trend in the stock market competing with Harshad Mehta's bullish ideologies.
• According to reports Harshad and Mr. Damani's group first competed for Apollo Tyres shares. Mr. Damani and his friends suffered significant losses at the time.
• RD is well-known for assisting many small-time investors (who owed him money) by purchasing their undervalued stocks. He did the same thing after the 2001 market crash by assisting a fellow stockbroker Deena Mehta (Ketan Parekh Scam).
• Rakesh Jhunjhunwala the King of the Stock Exchange considers Radhakishan Damani to be his market mentor.
• Shares of VST Industries HDFC Sundaram Finance ITC Gillette Crisil ICRA 3M India Blue Dart Express Prozone Intu Properties Uniply Industries and India Cements are among Mr. Damani's notable investments. He also bought a 1% stake in Andhra Paper.
• In 2000 RD purchased VST Industries Ltd stock for Rs. 80 per share; by 2020 the price had skyrocketed to Rs. 3600. He also purchased Sundaram Finance for Rs 270 per share which is now worth Rs 1800 as of 2021.
• Radhakishan Damani's other significant investment was the purchase of Rs. 400 crores in HDFC Bank shares at Rs. 40 per share when the HDFC IPO went public in 1995.
• Radhakishan admitted in an interview that he was inspired by veteran investor Chandrakant Sampat who was known for his value investments in the 1980s and 1990s. Sampat is also said to have given Mr. Damani information about Gillette India.
• RD launched DMart's initial public offering (IPO) in March 2017 at a price of Rs. 299 per share. As of 2021 the stock is trading at around Rs. 2900. The company's net valuation increased from Rs 38 000 crore in March 2017 to Rs 1.5 lakh crore by June 2020.
• In SonyLIV's hit web series Scam 1992: The Harshad Mehta Story there is a role based on Radhakishan Damani's life. Paresh Ganatra portrayed the character.
• His close friends have dubbed him Mr. White & White due to his habit of wearing only white shirts and white pants. He claims that it saves him time every morning.
• Radhakishan Damani is a reserved and shy man who rarely grants interviews.