Nikhil Kamath, co-founder of Zerodha, is officially the youngest billionaire at 37, as per the recently released Forbes ‘India’s 100 Richest People.’ Ranked 40 among the richest persons in India, the combined net worth of brothers Nithin and Nikhil Kamath currently stands at $5.5 billion, as listed by Forbes.
Nikhil Kamath was born on September 5, 1986 and became the youngest billionaire of India at the age of 37. The company, Zerodha was founded in 2010 by Nikhil Kamath and Nithin Kamath. It works on an online discount brokerage model wherein only online trading services are offered to customers. The platform also aims to lower the costs for their clients, something that is crucial in deciding the long-term profitability of the trader trading in the stock markets of the country.
Mukesh Ambani, who transformed his Reliance Industries into a diversified conglomerate, reclaimed the No. 1 spot in the list with a net worth of $92 billion. Gautam Adani, who was at the top last time, has slipped to second position.
Zerodha’s Nikhil Kamath also announced a WTF Fund for entrepreneurs under the age 22 yesterday. According to him, the WTF Fund will shortlist two startups that will receive a fund of INR 40 lakh each. It is also said that along with Kamath, the three guests in his latest podcast, will also make investments worth INR 10 lakh each in the winning startups.
