The year 2010 marked the inception of Zerodha by the Kamath siblings, heralding a paradigm shift in zero-cost equity investment. Their noteworthy achievements led to their inclusion in the 2023 Hurun India rich list.
Nikhil Kamath, India’s youngest billionaire, leads the pack with a net worth of $3.1 billion, according to the Forbes Billionaires List 2024. Alongside him, his brother and Zerodha co-founder Nithin Kamath, and Flipkart co-founders Sachin and Binny Bansal, have also emerged as the country’s youngest billionaires.
The 37-year-old Nikhil Kamath tops the list, while Mukesh Ambani remains India’s richest individual with a net worth of $116 billion. Following closely is Gautam Adani with a net worth of $84 billion, ranking 17th on the list.
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Nikhil Kamath’s education
Born on September 5, 1986, in Karnataka, he discontinued formal schooling after completing the 10th standard, as reported.
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Nikhil Kamath’s family
Nithin Kamath, born into a Konkani family in Shivamogga, Karnataka, had a father, U.R. Kamath, who served as an executive at Canara Bank, while his mother, Revathi, taught him to play the vena.
Nikhil Kamath’s journey
Nithin and Nikhil Kamath, siblings pictured together, founded the discount brokerage Zerodha in 2010, significantly disrupting India’s brokerage market. Zerodha boasts over 12 million clients, positioning itself as one of the nation’s largest brokerage firms. Their initiative Rainmatter, comprising a venture capital fund and incubator, focuses on investing in fintech companies and endeavors championing financial inclusion. Their investment management firm, True Beacon, targets ultra-high-net-worth investors and operates on a zero-fee model. In June 2023, Nikhil Kamath, the younger of the two brothers, committed to the Giving Pledge.
Others on the list
Nikhil Kamath’s position on the Forbes list is 1062, boasting a net worth of $3.1 billion. Binny Bansal, aged 41, follows with a net worth of $1.4 billion and a rank of 2152, while Sachin Bansal trails closely with the same net worth and a rank of 2410. Shamsheer Vayalil, founder of Burjeel Holdings, secures the fifth spot in terms of age, with a net worth of $3.5 billion and an overall rank of 920. Ravi Modi of Vedant Fashions, aged 47, follows with a net worth of $2.6 billion.
