India’s Richest list of 2020 by Forbes is here and while the year has been an economically taxing for many around the block as well as India as a whole, the rich in India continue to get richer. The man of the hour, Mukesh Ambani, Chairman of the Reliance Industries has continued to remain seated on the Iron Throne and has been named as the wealthiest man in India for the 13th consecutive year. Moreover, he has managed to add a whopping 37.3 billion dollars to his kitty which has only been increasing each year.
With the whole world waiting for an antidote for the deadly Coronavirus, Cyrus Poonawalla, the vaccine maker is the new kid on the block to have entered the top 10 list, being stationed at the sixth position. If percentages are to be calculated, the highest gainer has been Kiran Mazumdar Shaw, Chairperson of Biocon.
However, all eyes on the youngest billionaire in the list of top 100, Nikhil Kamath, the founder of the biggest stock brokerage company in India, Zerodha. Kamath is just 34 years old and has a net worth of Rs. 11, 300 crore which is about $1.55 billion.
Kamath was not even an adult when he started stock trading, it was at the age of 17 wherein he dropped out of school to partake in Indian National Chess Championships. At the mere age of 19, Kamath was the co-founder of his company called Kamath Associates for the purpose of managing high net worth individual portfolios in public markets.
It was in the year 2010 that he founded another company, Zerodha with his brother Nithin. With three million users, Zerodha boasts of being one of the most popular retail brokerage companies in India. They also have an investment firm with the name of True Beacon which focuses on investors who have an ultra-high net worth. The firm operates on a zero-fee model.
With the lockdown in place, trading saw an increase and there were several who opened Demat accounts which helped the Kamath brothers to enter the list at the 90th spot.
Divya Gokulnath is the second youngest billionaire in the list who is the wife of BYJU’s founder Byju Raveendran and is also the co-founder in BYJU’s. At age 39, Raveendran is the third-youngest billionaire who had founded his company back in 2011.
