India city Mumbai pandemic isolate Coronavirus India city Mumbai

Radhakishan Damani, the only Indian billionaire to get richer under lockdown

Reading now: 802
www.livemint.com

The only Indian tycoon whose net worth is unscathed as the deadly coronavirus roils markets worldwide can thank nation’s hoarders with millions scrambling to stock up on staples amid the world’s biggest isolation effort.

The net worth of Radhakishan Damani, who controls Avenue Supermarts Ltd., has surged 5% this year to $10.2 billion, singling him out as the only billionaire with gains among the 12 richest Indians whose wealth is tracked by the Bloomberg Billionaires Index.

Shares of Avenue Supermarts, which contribute nearly all of the wealth to Damani’s net worth, have advanced 18% this year. Damani, who was raised in a one-room apartment in a Mumbai tenement block, has seen his wealth swell at a time when a stocks rout has shaved more

Read more on livemint.com
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA