Nikhil Kamath India's Youngest Billionaire
According to Forbes’ latest list of India’s 100 richest people, Nikhil Kamath, the co-founder of discount stock broker Zerodha, is now the youngest billionaire in India at the age of 37. Nikhil and his brother Nithin Kamath together hold a net worth of $5.5 billion, placing them at the 40th rank on the list of the country’s wealthiest people.
Forbes also reported that the Kamath brothers’ rich list rank improved by 18 places this year and they have a net worth of Rs. 45,754.50 crore.
Zerodha, which was founded by the duo in 2010 and revolutionized India’s equity investing, has logged a revenue of Rs. 6875 crore and a profit of Rs. 2907 crore for the financial year 2022-23 (FY23), representing a 38.5% and 39% rise in revenue and profit respectively on a year-on-year basis2. Despite facing stiff competition from newer discount brokerage firms, Nithin Kamath stated in a recent blog post that Zerodha will continue to charge onboarding and maintenance fees.
Earlier this week, the Kamath brothers featured in the Hurun India rich list of 2023 at 42 and 81 respectively, with net worths of Rs. 35,300 crore and Rs. 23,100 crore.
