Radhakishan Damani comes from a poor family. His family used to live in a single room apartment in Mumbai. He dropped his studies after the death of his father.
During 1990's he was an expert is selecting stocks for short selling. Short sellers make money when stock price falls. They sell it before the fall and buy back after the fall (FUTURES and OPTIONS). After Harshad Mehta scam, market was falling, and he was an expert of short selling, so he made a lot of money during that time.
During 1995 he was reported as the largest individual shareholder of HDFC Bank when it went public. After 2000 he quitted stock market to start his own hypermarket chain (DMART). In 2020 he became the fourth richest Indian and in 2022 he was among the top 100 rich in the world.
Currently his net worth is over 1.66 lakh crores.
During 1990's he was an expert is selecting stocks for short selling. Short sellers make money when stock price falls. They sell it before the fall and buy back after the fall (FUTURES and OPTIONS). After Harshad Mehta scam, market was falling, and he was an expert of short selling, so he made a lot of money during that time.
During 1995 he was reported as the largest individual shareholder of HDFC Bank when it went public. After 2000 he quitted stock market to start his own hypermarket chain (DMART). In 2020 he became the fourth richest Indian and in 2022 he was among the top 100 rich in the world.
Currently his net worth is over 1.66 lakh crores.