Zerodha’s Nikhil Kamath is India’s youngest billionaire at 37

mangaloretoday.com/NDTV

New Delhi, Oct 24, 2023: Nikhil Kamath, the co-founder of trading platform Zerodha, is the youngest billionaire in India at 37, as per Forbes’ list of the country’s 100 richest people. The list places Nikhil and his older brother Nithin Kamath, 44, at the 40th position with a combined net worth of ₹ 45,754.5 crore.

 

In 2010, the Kamath brothers founded the brokerage firm, Zerodha, which has transformed the trading world by introducing zero-cost equity investing. In FY23, Zerodha reported a total revenue of ₹ 6,875 crore, along with a profit after tax of ₹ 2,907 crore. This marked a huge improvement compared to the previous year’s revenue of ₹ 4,964 crore and a profit after tax of ₹ 2,000 crore.

Nikhil, who also co-founded True Beacon and Gruhas, announced the WTF Fund idea on October 11 via his LinkedIn account. This fund hopes to empower aspiring entrepreneurs in the fashion, beauty and home brand industries. In his efforts, the Zerodha co-founder will be joined by renowned figures, 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).

Nikhil Kamath also runs “WTF is”, a podcast that features him discussing with some of his friends and industry experts regarding technological advancements, the unprecedented growth of social media and renewable energy, among others.

Meanwhile, Mukesh Ambani, the Chairman and Managing Director of Reliance Industries, regained the title of the wealthiest person in India with a net worth of over $92 billion. He is followed by Adani Group chairperson Gautam Adani at $68 billion.