Radhakishan Damani: Mr White & White enters top 100 global billionaires' club
Damani's net worth surged by $4.41 billion YTD amid the ongoing rally on Dalal Street.
Billionaire investor and D-Mart owner Radhakishan Damani has entered the list of elite top 100 global billionaires. With a total net worth of $19.30 billion, he stands at the 98th position in the list, according to Bloomberg Billionaire Index. On the other hand, Elon Musk is the richest individual in the world with a total net worth of $188 billion.
The other Indians on the list are (12) Mukesh Ambani at number 12 ($82.7 billion), Gautam Adani at 23 ($55.80 billion), Azim Premji at 36 ($ 36.90 billion), Shiv Nadar at 52 ($28.40 billion), and Lakshmi Mittal at 71 ($22.50 billion). Damani’s net worth surged by $4.41 billion YTD amid the ongoing rally on Dalal Street.
Damani holds a minimum 1% stake in at least 14 listed companies. He is well known for buying large stakes in companies and holding them for long periods. Besides Avenue Supermarts, he also owns shares of various companies including VST Industries, India Cements, Sundaram Finance, Trent, United Breweries, 3M India, Blue Dart Express, Metropolis Healthcare, Sundaram Finance Holdings, BF Utilities, Astra Microwave, Mangalam Organics and Andhra Paper.
Damani is the promoter of Avenue Supermarts and owns a 34.30% stake in the company. The company reported a jump of 132% in standalone net profit at Rs 115.13 crore for the quarter ended June 30. It had posted a net profit of Rs 50 crore in the year-ago period. The company said its standalone revenue from operations rose 31.27% to Rs 5,031.75 crore.
Barring VST Industries (down 9% year-to-date), other shares of Mr White & White (one of the many names this legendary investor is known by on Dalal Street) Damani have gained up to 72% during the same period. On the other hand, the benchmark BSE Sensex has gained 16.50% to 55,629 on August 18 from 47,651 on December 31 last year.