2401:4900:545E:EEA3:593:674F:36EF:1A1C at 09:26, 9 October 2021

2021-10-09T09:26:52Z

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{{short description|Indian businessman (b. 1954)}}
{{Infobox officeholder
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| birth_date = {{birth date and age|1954|01|01|df=y}}<ref>{{cite news |title=Meet Rakesh Jhunjunwala's guru - India's second richest after Mukesh Ambani|url=https://www.businesstoday.in/markets/stocks/rakesh-jhunjunwala-guru-radhakishan-damani-second-richest-mukesh-ambani/story/396422.html |access-date=11 May 2020 |work=Business Today}}</ref>
| birth_place = mumbai,India
| residence = [[Altamount Road]], [[Mumbai]]<ref>{{cite news |title=Radhakishan Damani: His journey from Dalal Street punter, to long-term investor, to entrepreneur LOLOO|url=https://economictimes.indiatimes.com/small-biz/entrepreneurship/radhakishan-damani-his-journey-from-dalal-street-punter-to-long-term-investor-to-entrepreneur/articleshow/58230305.cms |access-date=11 May 2020 |work=Economic Times}}</ref>
| nationality = Indian
| occupation = Businessman, investor<ref name="rich">{{cite news |title=D-Mart's Radhakishan Damani now 2nd richest Indian after RIL's Mukesh Ambani |url=https://www.financialexpress.com/industry/d-marts-radhakishan-damani-now-2nd-richest-indian-after-rils-mukesh-ambani/1868150/ |work=Financial Express|access-date=11 May 2020}}</ref>
| known_for = Founder of [[DMart]]
| alma_mater =
| net_worth = {{up}} [[US$]] 18.4 billion (August 2021)<ref>{{cite web|url=https://www.bloomberg.com/billionaires/profiles/radhakishan-damani/ |title=Bloomberg Billionaire Index: Radhakishan Damani |access-date=2021-06-28}}</ref>
| parents =
| spouse =
| children = 3<ref>{{cite web |title=Radhakishan Damani & family |url=https://www.forbes.com/profile/radhakishan-damani/#68b2ef440de3 |work=Forbes |access-date=11 May 2020}}</ref>
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}}

'''Radhakishan S. Damani''' is an Indian billionaire investor,<ref>{{Cite web|title=Radhakishan Damani adds shares of two more companies to portfolio|url=https://www.thehindubusinessline.com/markets/stock-markets/radhakishan-damani-adds-shares-of-two-more-companies-to-portfolio/article32077482.ece|access-date=2021-05-20|website=@businessline|language=en}}</ref> businessman and the founder of [[DMart]].<ref>{{Cite web|last=Kumar|first=Raj|title=Radhakishan Damani Portfolio June 2020|url=https://weinvestsmart.com/radhakishan-damani-portfolio/|access-date=2020-07-04|website=We Invest Smart|language=en-US}}</ref> He also manages his portfolio through his Investment firm, Bright Star Investments Limited. On 19th Aug. 2021, he was ranked #98 richest person in the world by [[Bloomberg Billionaires Index|Bloomberg Billionaire Index]].<ref>{{Cite news|last=Coutinho|first=Raghavendra Kamath & Ashley|date=2021-08-19|title=D-Mart owner Radhakishan Damani enters top 100 global billionaires' club|work=Business Standard India|url=https://www.business-standard.com/article/companies/d-mart-owner-radhakishan-damani-enters-top-100-global-billionaires-club-121081900043_1.html|access-date=2021-08-19}}</ref>

==Career==
Damani was raised in a [[Marwari people|Marwari]] family in single room apartment in [[Mumbai]]. He studied commerce at the [[University of Mumbai]] but dropped out after one year. After the death of his father who worked on [[Dalal Street]], Damani left his ball bearing business and became a stock market broker and investor.<ref>{{cite news |title=Radhakishan Damani quiet as ever after stellar D-Mart listing |url=https://www.livemint.com/Money/pEpN3GZCX10SAj2vi1h26L/Radhakishan-Damani-quiet-as-ever-after-stellar-DMart-listin.html |access-date=11 May 2020 |work=Mint}}</ref><ref>{{cite news |title=The rise of DMart's Radhakishan Damani, who got richer during lockdown |url=https://www.business-standard.com/article/markets/the-rise-of-dmart-s-radhakishan-damani-who-got-richer-during-lockdown-120042401376_1.html |work=Business Standard|access-date=11 May 2020}}</ref><ref>{{cite news |title=Radhakishan Damani, the only Indian tycoon to get richer under lockdown |url=https://economictimes.indiatimes.com/markets/stocks/news/radhakishan-damani-the-only-indian-tycoon-to-get-richer-under-lockdown/articleshow/75038712.cms |work=Economic Times|access-date=11 May 2020}}</ref> He made profits by [[short-selling]] stocks that were [[1992 Indian stock market scam|inflated by illegal means]] by [[Harshad Mehta]] in the 1990s.<ref>{{cite news |title=Of D-Mart's IPO and the legend of Radhakishan Damani |url=https://www.business-standard.com/article/markets/of-dmart-s-ipo-and-the-legend-of-radhakishan-damani-117030100035_1.html |access-date=11 May 2020 |work=Business Standard}}</ref> Damani was reportedly the largest individual shareholder of [[HDFC Bank]] after it went public in 1995.<ref name="rediff1"/>
In the year 1992, after the [[Harshad Mehta Scam]] came to limelight, he saw a major rise in his income due to the short-selling profits during the time.
In 1999, he operated a franchise of Apna Bazaar, a cooperative [[department store]], in [[Nerul]], but was "unconvinced" by its business model.<ref>{{cite web |title=Make Way For The New King of Retail |url=https://www.magzter.com/article/Business/Outlook-Business/Make-Way-For-The-New-King-of-Retail |website=Outlook Business|access-date=11 May 2020}}</ref><ref>{{cite news |title=Exiting a business one has nurtured is always painful, says former DMart co-promoter Ashok Maheshwari |url=https://economictimes.indiatimes.com/opinion/interviews/exiting-a-business-one-has-nurtured-is-always-painful-ashok-maheshwari-entrepreneur/articleshow/58583839.cms |work=Economic Times|access-date=11 May 2020}}</ref> He quit stock market in 2000 to start his own [[hypermarket]] chain, [[DMart]], setting up the first store in [[Powai]] in 2002. The chain had 25 stores in 2010, post-which the company grew rapidly and [[initial public offering|went public]] in 2017.<ref name="rediff1">{{cite news |title=The silent giant of the stock market |url=https://www.rediff.com/business/special/how-well-do-you-know-d-marts-damani/20170405.htm |work=Rediff|access-date=11 May 2020}}</ref><ref name="rediff2">{{cite news |title=The businessman who got richer during the lockdown |url=https://www.rediff.com/business/special/the-businessman-who-got-richer-during-the-lockdown/20200508.htm |work=Rediff}}</ref><ref>{{cite news |title=This is how Radhakishan Damani became India's second richest person |url=https://www.gqindia.com/get-smart/content/5-facts-about-radhakishan-damani-how-he-became-second-richest-person-in-india |work=GQ India|access-date=11 May 2020}}</ref>

Today he has 234 DMart stores across India.<ref>{{Cite web|date=22 June 2021|title=Top 100 entrepreneurs in India|url=https://www.startup.ind.in/2021/06/best-entrepreneurs-in-india.html|url-status=live|website=Startup}}</ref> Damani keeps a low profile and rarely gives any interviews. He has also taught his Stock Trading Techniques to Indian Billionaire Rakesh Jhunjhunwala.{{citation needed|date=October 2021}}

In 2020, he became the fourth richest Indian with a net worth of $16.5 billion. He was ranked #117 on the global list of billionaires.<ref>{{cite news |title=Forbes' richest list: India ranks third among countries with most billionaires |url=https://indianexpress.com/article/business/india-top-richest-billionaires-mukesh-ambani-gautam-adani-shiv-nadar-radhakishan-damani-uday-kotak-7264167/ |work=The Indian Express |date=2021-04-08 |language=en}}</ref><ref name="forbes">{{cite news |title=Radhakishan Damani & family |url=https://www.forbes.com/profile/radhakishan-damani/?sh=2d096bc840de |work=Forbes |language=en}}</ref>

== Investments ==
Damani also holds stakes in a range of companies, from tobacco firm VST industries to cement producer India Cements. Damani picked up a 1% stake in Andhra Paper.<ref>{{Cite news|date=2020-06-30|title=Debt free! Andhra Paper in focus as SBI MF, Damani take stakes|work=The Economic Times|url=https://economictimes.indiatimes.com/markets/stocks/news/sbi-mf-damani-take-stakes-in-andhra-paper/articleshow/76701437.cms|access-date=2020-07-04}}</ref> Damani also picked up 15% stake in India cements in May 2020 taking his investment in India Cements to 19.89%.<ref>{{Cite news|date=2020-05-15|title=Damanis pick over 15% stake in India Cements in March quarter; shares jump 16%|work=The Economic Times|url=https://economictimes.indiatimes.com/markets/stocks/news/damanis-pick-over-15-stake-in-india-cements-in-march-quarter-shares-jump-16/articleshow/75757573.cms|access-date=2020-07-04}}</ref> Damani publicly holds 6 stocks in his investment portfolio and total value of his stock portfolio is approx Rs 1,02,077cr(Approx US$13 Billion) in 2021.<ref>{{Cite web|title=RADHAKISHAN DAMANI's shareholdings and portfolio as on March 31, 2021|url=https://trendlyne.com/portfolio/superstar-shareholders/custom/?query=RADHAKISHAN%20DAMANI|access-date=2021-05-20|website=trendlyne.com}}</ref>

== Personal life ==
He is married and has three children.<ref name="forbes"/>

==References==
{{reflist}}

{{DEFAULTSORT:Damani, Radhakishan}}
[[Category:Indian businesspeople]]
[[Category:Businesspeople from Mumbai]]
[[Category:Marwari people]]
[[Category:1954 births]]
[[Category:Living people]]
[[Category:Indian investors]]
[[Category:University of Mumbai alumni]]

Radhakishan Damani - Revision history

2401:4900:545E:EEA3:593:674F:36EF:1A1C at 09:26, 9 October 2021