radhakishan damani, ‘this’ person earns 57 crores a day by selling cheap groceries, huge increase in wealth in 5 years – hurun ​​india rich list 2022 dmart owner radhakishan damani’s wealth jumps 280% in 5 years IG News

New Delhi : Stock market trader-investor Radhakishan Damani, who runs retail chain Avenue Supermarts, is now the fifth richest person in India, according to the IIFL Wealth Hurun India Rich List 2022 released on Wednesday. Avenue Supermarts’ retail chain DMart is also owned by Radhakishen Damani. With a net worth of Rs 1.75 lakh crore, 67-year-old Damani has moved up two places to the fifth position in the rich list. Hurun India Rich List 2022 is dominated by Gautam Adani and Mukesh Ambani.

How much has Damani’s wealth increased in the last 5 years?
Veteran investor Radhakishan Damani’s wealth has grown by 28 percent or Rs 1,28,800 crore in the last five years. According to the rich list, Radhakishan Damani earns Rs 57 crore per day and his wealth has increased by 13 percent in the last one year. Damani-controlled Avenue Supermarts has more than 200 Demart stores across the country. Shares of Avenue Supermarts closed at Rs 4307.20 on BSE on September 21, 2022.

Damani played a game on which companies?
After making good money from stock market investments, Damani became an entrepreneur in 2002 by opening Dmart stores. Radhakishan Damani avoids public events and media interviews. He has been a close friend and mentor of Rakesh Jhunjhunwala, popularly known as Big Bull. Rakesh Jhunjhunwala passed away on 14 August 2022. Apart from Avenue Supermarts, Damani has major stakes in VST Industries, India Cements. Apart from this, he has investments in Trent, United Breweries, 3M India, Blue Dart Express and Metropolis Healthcare.

Damani controls Avenue Supermarts, a Mumbai-based retail chain leading the supply of low-cost consumer goods. “What makes the Indian wealth creation story truly inspiring is that 67 percent of the inventory is self-generated, up from 54 percent five years ago. Also this year 79 percent of the new faces have also become rich themselves. Wealth creation of first-generation entrepreneurs and business managers is gaining momentum and is a key driver for India’s GDP to rapidly cross the $5 trillion mark,” said Anas Rahman Junaid, MD and Chief Researcher, Hurun India.


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