{"id":6298,"date":"2022-01-05T16:34:03","date_gmt":"2022-01-05T11:04:03","guid":{"rendered":"https:\/\/www.tickertape.in\/blog\/?p=6298"},"modified":"2022-01-05T16:34:04","modified_gmt":"2022-01-05T11:04:04","slug":"10-fascinating-facts-about-radhakishan-damani-the-self-made-billionaire","status":"publish","type":"post","link":"https:\/\/www.tickertape.in\/blog\/10-fascinating-facts-about-radhakishan-damani-the-self-made-billionaire\/","title":{"rendered":"10 Fascinating Facts About Radhakishan Damani, the Self-Made Billionaire"},"content":{"rendered":"\n<p><a href=\"https:\/\/www.tickertape.in\/blog\/facts-about-rakesh-jhunjhunwala\/?utm_source=blog&amp;utm_medium=article\">Rakesh Jhunjhunwala\u2019s<\/a> portfolio grew by 91% in the last 5 yrs. Many people follow his investing style, but there\u2019s another unsung hero in the <a href=\"https:\/\/www.tickertape.in\/blog\/how-to-invest-in-shares\/\">stock market<\/a>: Radhakishan Damani, whose portfolio grew by 4,000% in the last 5 yrs! Let\u2019s hear 10 fascinating facts about this self-made billionaire.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_66_1 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.tickertape.in\/blog\/10-fascinating-facts-about-radhakishan-damani-the-self-made-billionaire\/#1-The-transition-from-a-small-businessman-to-stock-trader\" title=\"1. The transition from a small businessman to stock trader\">1. The transition from a small businessman to stock trader<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.tickertape.in\/blog\/10-fascinating-facts-about-radhakishan-damani-the-self-made-billionaire\/#2-Made-a-fortune-by-shorting-stocks\" title=\"2. Made a fortune by shorting stocks\">2. Made a fortune by shorting stocks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.tickertape.in\/blog\/10-fascinating-facts-about-radhakishan-damani-the-self-made-billionaire\/#3-Embracing-the-style-of-value-investing\" title=\"3. Embracing the style of value investing\">3. Embracing the style of value investing<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.tickertape.in\/blog\/10-fascinating-facts-about-radhakishan-damani-the-self-made-billionaire\/#4-The-inception-of-retail-giant-DMart\" title=\"4. The inception of retail giant DMart\">4. The inception of retail giant DMart<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.tickertape.in\/blog\/10-fascinating-facts-about-radhakishan-damani-the-self-made-billionaire\/#5-The-stellar-debut-of-his-retail-business-on-the-street\" title=\"5. The stellar debut of his retail business on the street\">5. The stellar debut of his retail business on the street<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.tickertape.in\/blog\/10-fascinating-facts-about-radhakishan-damani-the-self-made-billionaire\/#6-A-stock-listing-that-spiked-his-wealth\" title=\"6. A stock listing that spiked his wealth\">6. A stock listing that spiked his wealth<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.tickertape.in\/blog\/10-fascinating-facts-about-radhakishan-damani-the-self-made-billionaire\/#7-Made-a-fortune-off-multibaggers\" title=\"7. Made a fortune off multibaggers\">7. Made a fortune off multibaggers<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.tickertape.in\/blog\/10-fascinating-facts-about-radhakishan-damani-the-self-made-billionaire\/#8-Rose-to-new-heights-during-crisis\" title=\"8. Rose to new heights during crisis\">8. Rose to new heights during crisis<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.tickertape.in\/blog\/10-fascinating-facts-about-radhakishan-damani-the-self-made-billionaire\/#9-Mentor-to-another-billionaire-investor\" title=\"9. Mentor to another billionaire investor\">9. Mentor to another billionaire investor<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.tickertape.in\/blog\/10-fascinating-facts-about-radhakishan-damani-the-self-made-billionaire\/#10-An-avid-and-an-able-entrepreneur\" title=\"10. An avid and an able entrepreneur\">10. An avid and an able entrepreneur<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"1-The-transition-from-a-small-businessman-to-stock-trader\"><\/span>1. <strong>The transition from a small businessman to stock trader<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Although Radhakishan Damani was born in a Marwari family that ran a stock broking business, he was hardly interested in the market. He dropped out of college and ran a small business of ball bearings. However, at age 32, Damani joined his family business following the untimely passing of his father. But he soon realised that broking alone could not make him real money, which is when he started trading.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"2-Made-a-fortune-by-shorting-stocks\"><\/span>2. <strong>Made a fortune by shorting stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>When <a href=\"https:\/\/blog.tickertape.in\/facts-about-harshad-mehta\/?utm_source=blog&amp;utm_medium=article\" rel=\"nofollow noopener\" target=\"_blank\">Harshad Mehta<\/a> was busy manipulating the prices of a few stocks, Damani focused on shorting them. And when Mehta\u2019s scam came in the open, Radhakishan made a significant windfall.<a href=\"https:\/\/economictimes.indiatimes.com\/small-biz\/entrepreneurship\/radhakishan-damani-his-journey-from-dalal-street-punter-to-long-term-investor-to-entrepreneur\/articleshow\/58230305.cms?from=mdr\" rel=\"nofollow noopener\" target=\"_blank\"> <\/a>Had it been delayed by even a week, Damani says, he would have been bankrupt.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"3-Embracing-the-style-of-value-investing\"><\/span>3. <strong>Embracing the style of value investing<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Although Damani made significant wealth off the <a href=\"https:\/\/www.tickertape.in\/blog\/facts-about-harshad-mehta\/\">Harshad Mehta<\/a> scam, his portfolio was also impacted. That is when Damani started following Chandrakant Sampat and jumped from stock trading to <a href=\"https:\/\/www.tickertape.in\/blog\/what-is-value-investing\/\">value investing<\/a>. Says Damani that he buys stocks he believes in and holds them for anywhere between 5 to 10 yrs. Warren buffet also believes in value investing.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"4-The-inception-of-retail-giant-DMart\"><\/span>4. <strong>The inception of retail giant DMart<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>After working as a stock trader for a few years, Damani exited the markets and stayed away for 6 to 7 yrs. It was during this time that he bought cheap land in Navi Mumbai and worked on building what would today become a retail empire. In the early 2000s,<a href=\"https:\/\/economictimes.indiatimes.com\/news\/company\/corporate-trends\/10-secrets-behind-the-stunning-success-of-d-marts-radhakishan-damani\/articleshow\/57755064.cms\" rel=\"nofollow noopener\" target=\"_blank\"> <\/a>he bought a franchisee of Apna Bazaar. Having learnt the tactics of operating a retail store, building relationships with vendors, and wanting to make the most of the opportunities that the Indian retail sector had to offer, 2 yrs later, Damani founded Avenue Supermarts and opened the first D-Mart store in Mumbai.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"5-The-stellar-debut-of-his-retail-business-on-the-street\"><\/span>5. <strong>The stellar debut of his retail business on the street<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In March 2017, <a href=\"https:\/\/www.tickertape.in\/stocks\/avenue-supermarts-AVEU?checklist=basic&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\">Avenue Supermarts<\/a> went public and how! Offered at Rs. 299 apiece, the issue was listed at a premium of more than 100%. At the time, Avenue Supermart\u2019s market cap was around Rs. 39,000 cr., more than the combined <a href=\"https:\/\/www.tickertape.in\/blog\/market-capitalization\/\">market capitalisation<\/a> of <a href=\"https:\/\/www.tickertape.in\/stocks\/future-retail-FRTL?checklist=basic&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\">Future Retail<\/a> and <a href=\"https:\/\/www.tickertape.in\/stocks\/aditya-birla-fashion-and-retail-ADIA?checklist=basic&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\">Aditya Birla Fashion<\/a>, its two biggest rivals. As of today, Avenue Supermarts was trading at ~Rs. 4,685.20 per share, exhibiting a staggering growth of over 629.69%. Its market cap<a href=\"https:\/\/www.tickertape.in\/stocks\/avenue-supermarts-AVEU?checklist=basic\"> <\/a>now stands at Rs. 3.06 lakh cr. You can track the price movement and other key metrics of Avenue Supermarts on the <a href=\"https:\/\/www.tickertape.in\/?utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\">tickertape website<\/a> or <a href=\"https:\/\/play.google.com\/store\/apps\/details?id=in.tickertape&amp;hl=en_IN&amp;gl=US&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">app<\/a>.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"10 Fascinating Facts about Radhakishan Damani | Self-made Billionaire\" width=\"770\" height=\"433\" src=\"https:\/\/www.youtube.com\/embed\/To1X-jY5pfU?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"6-A-stock-listing-that-spiked-his-wealth\"><\/span>6. <strong>A stock listing that spiked his wealth<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The bumper listing of Avenue Supermart catapulted Radhakishan Damani\u2019s <a href=\"https:\/\/www.tickertape.in\/blog\/net-worth\/\">net worth<\/a> to a whopping $ 6 bn., surpassing other billionaires like Rahul Bajaj ($ 3.5 bn.), Anil Agarwal ($ 3 bn.) and Anil Ambani ($ 2.7 bn).<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"7-Made-a-fortune-off-multibaggers\"><\/span>7. <strong>Made a fortune off multibaggers<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>As per Forbes, Damani has held stakes in an array of businesses including the 156-room Radisson Blu Resort in Alibag, tobacco firm <a href=\"https:\/\/www.tickertape.in\/stocks\/vst-industries-VSTI?checklist=basic&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\">VST Industries<\/a>, and beer maker <a href=\"https:\/\/www.tickertape.in\/stocks\/united-breweries-UBBW?checklist=basic&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\">United Breweries<\/a> and others like <a href=\"https:\/\/www.tickertape.in\/stocks\/india-cements-ICMN?checklist=basic&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\">India Cements<\/a>, <a href=\"https:\/\/www.tickertape.in\/stocks\/sundaram-finance-SNFN?checklist=basic&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\">Sundaram Finance<\/a>, <a href=\"https:\/\/www.tickertape.in\/stocks\/blue-dart-express-BLDT?checklist=basic&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\">Blue Dart<\/a>, <a href=\"https:\/\/www.tickertape.in\/stocks\/foods-and-inns-FOO?checklist=basic&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\">Food &amp; Inns Ltd<\/a>, <a href=\"https:\/\/www.tickertape.in\/stocks\/mangalam-organics-MANOR?checklist=basic&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\">Mangalam Organics<\/a>, <a href=\"https:\/\/www.tickertape.in\/stocks\/simplex-infrastructures-SINF?checklist=basic&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\">Simplex Infrastructure Ltd<\/a>, and <a href=\"https:\/\/www.tickertape.in\/stocks\/spencers-retail-SPEN?checklist=basic&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\">Spencer\u2019s Retail<\/a>. He had bought VST Industries at an average of Rs. 85 and as of today, it was trading at around Rs. 3,152.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"8-Rose-to-new-heights-during-crisis\"><\/span>8. <strong>Rose to new heights during crisis<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>According to the Hurun India Rich List 2021, Radhakishan Damani is the 8th richest Indian with a net worth of $14.5 billion. He became India\u2019s second-richest person during the lockdown of 2020 and was the only Indian billionaire to be featured in the Forbes top 100 on the list apart from Mukesh Ambani.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"9-Mentor-to-another-billionaire-investor\"><\/span>9. <strong>Mentor to another billionaire investor<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>It is not a secret that many investors look up to <a href=\"https:\/\/www.tickertape.in\/blog\/facts-about-rakesh-jhunjhunwala\/\">Rakesh Jhunjhunwala<\/a> for investment tips. But Jhunjhunwala himself considers Radhakishan Damani as his mentor, from whom he learnt the tricks of the trade. To be specific, Jhunjhunwala learnt how to tackle the vagaries of the stock market from Damani.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"10-An-avid-and-an-able-entrepreneur\"><\/span>10. <strong>An avid and an able entrepreneur<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Damani thinks long-term and it has favoured him well. For instance, a key factor behind DMart\u2019s profitability is that Damani buys most of the properties for his stores instead of leasing them. This saves him a huge rental outgo. He also avoids credit and pays his suppliers on day 11 whereas the payment norm in the <a href=\"https:\/\/www.tickertape.in\/indices\/nifty-fmcg-index-.NIFTYFMCG?utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\">FMCG sector<\/a> is 12-21 days. This helps DMart maintain good, long-term relationships with vendors and avoid a shortage of stock.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The portfolio of Radhakishan Damani, an unsung hero in the stock market, grew 4,000% in the last 5 yrs! Let\u2019s read 10 fascinating facts about this self-made billionaire.<\/p>\n","protected":false},"author":27,"featured_media":6301,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[9,1758],"tags":[1150,1149,1148],"acf":[],"modified_by":"Aradhana Gotur","jetpack_featured_media_url":"https:\/\/www.tickertape.in\/blog\/wp-content\/uploads\/2022\/01\/TT-5-Jan-RKD-facts.png?wsr","_links":{"self":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts\/6298"}],"collection":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/users\/27"}],"replies":[{"embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/comments?post=6298"}],"version-history":[{"count":3,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts\/6298\/revisions"}],"predecessor-version":[{"id":6303,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts\/6298\/revisions\/6303"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/media\/6301"}],"wp:attachment":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/media?parent=6298"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/categories?post=6298"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/tags?post=6298"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}