Meet India's 8th richest person, Rakesh Jhunjhunwala's mentor, net worth is Rs 1.44 lakh crore

DMart owner Radhakishan Damani was ranked 8th on 2023 Hurun India Rich List.  Radhakishan Damani had to drop out of college. He later left his ball-bearing business and became a stock market investor.

In the year 1992, after the Harshad Mehta Scam came to the limelight, he saw a major rise in his income due to the short-selling profits during the time. Damani was reportedly the largest individual shareholder of HDFC Bank after it went public in 1995. 

 In the year 2000, he quit the stock market and launched DMart.

The company had only 25 stores by 2010. From there on, the company rapidly grew.

Damani's net worth Rs 1,43,900 crore.

He has over 294 stores across India now. He has also invested in companies like VST Industries and India Cements.

Radhakishan Damani was the mentor of late billionaire investor Rakesh Jhunjhunwala.

In 2021, he made news for buying a house in Mumbai's posh Malabar Hill area worth Rs 1000 crore.