Bloomberg Billionaires Index

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# 98 Radhakishan Damani $17.2B

Random fact: Doesn’t hire high-profile executives.


Damani controls Avenue Supermarts, a Mumbai-based retailer specializing in low-priced consumer goods. The publicly traded business sells food, clothing and other consumer products in more than 200 D-Mart shops across India. It reported revenue of 241 billion rupees ($3.2 billion) in the year-ended March 31, 2021.

As of :
Last change +$106M ( +0.6%)
YTD change -$2.12B ( -10.9%)
Biggest asset DMART IN Equity
Country / Region India
Age 67
Industry Retail
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Radhakishan Damani's net worth of $17.2B can buy ...

troy ounces of gold
barrels of crude oil

... and is equivalent to ...

of the GDP of the United States
of the total wealth of the 500 richest people in the world
of the top 100 U.S. college endowments
of the top 200 U.S. executives’ total awarded compensation
of U.S. existing home sales
times the median U.S. household income

Latest News

Net Worth Summary

Private asset
Public asset
Misc. liabilities
Confidence rating:

Damani's fortune is derived from publicly traded Avenue Supermarts, the Indian retailer that operates D-Mart retail stores in more than 200 locations, according to its website.

The 60% stake attributed to him is held by a promoter group, which includes Mumbai-based Bright Star, which he owns with his wife, and three trusts in the names his children, according to a filing on the company's share holding pattern from March 2022. Only the stakes held by his immediate family are included in the net worth calculation.

The billionaire has a history of active investments in publicly traded Indian companies, according to a Bloomberg Quint report. Cash & Other Assets reflects estimated stock holdings as well dividends, insider transactions, taxes and market performance.

A company representative did not reply to request for comment sent in June 2020.


Family: Married, 3 children

Radhakishan Damani was born in Mumbai, in 1956, where he was raised in a one-room apartment in a tenement block. He dropped out of commerce college after his first year, and entered the stock market as a broker and trader in the late 1980s.

Damani exited the stock market in 2000 and began building a retail business by buying cheap land in Navi Mumbai. He tested the ground with his first D-Mart store in 2002, seeing slow growth for almost a decade, opening 25 stores in its first 9 years, compared to 21 stores opened by Avenue Supermarts in 2016 alone. Damani operates more than 200 D-Mart-branded stores in 45 Indian cities.

He lives in Mumbai.

  • 1956 Radhakishan Damani is born in Mumbai, India.
  • 1995 Becomes biggest individual shareholder in HDFC Bank.
  • 2000 Exits the stock market and works on setting up his retail business.
  • 2002 Founds Avenue Supermarkets
  • 2002 Opens his first D-Mart store in Mumbai.
  • 2010 Operates 25 stores under D-Mart name.
  • 2016 21 new D-Mart shops are opened.
  • 2017 Avenue Supermarts jumps 106 percent over IPO price in Mumbai debut.
  • 2017 Avenue Supermarket is publicly listed in India.