News Karnataka
Wednesday, April 24 2024

Youngest Indian Billionaire: Zerodha’s Nikhil Kamath Tops Forbes

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Mangaluru: Nikhil Kamath, the co-founder of the popular trading platform Zerodha, has secured his position as India’s youngest billionaire at the age of 37, according to Forbes’ list of the country’s 100 richest people. He shares this achievement with his older brother Nithin Kamath, aged 44, ranking at the 40th position with a combined net worth of ₹45,754.5 crore.

In 2010, the Kamath brothers founded Zerodha, a brokerage firm that revolutionized the trading industry by introducing zero-cost equity investing. Zerodha’s fiscal year 2023 results were impressive, with a total revenue of ₹6,875 crore and a profit after tax of ₹2,907 crore, showcasing significant growth compared to the previous year’s figures of ₹4,964 crore in revenue and ₹2,000 crore in profit after tax.

Aside from his contributions to the trading world, Nikhil Kamath announced the innovative WTF Fund initiative on October 11 through his LinkedIn account. This fund aims to support aspiring entrepreneurs in the fashion, beauty, and home brand industries. Notable personalities, including Kishore Biyani (founder of Future Group), Ananth Narayanan (founder of Mensa Brands), and Raj Shamani (content creator and host of the Figuring Out podcast), are joining Kamath in this venture.

Additionally, Nikhil Kamath hosts the podcast “WTF is,” where he engages in discussions with friends and industry experts on topics such as technological advancements, social media growth, and renewable energy.

Meanwhile, Mukesh Ambani, the Chairman and Managing Director of Reliance Industries, reclaimed the title of India’s wealthiest individual, boasting a net worth exceeding $92 billion, followed closely by Adani Group’s chairperson Gautam Adani with $68 billion.

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