Radhakishan Damani, only Indian making fortune in COVID crisis

Radhakishan Damani is the only Indian tycoon who is making a fortune during this challenging phase of coronavirus. The net worth of Billionaire Radhakishan Damani has increased by 5%. He owns Avenue Supermarts Limited. His total net worth stands to $10.2 billion.

His Supermarts are famous for reasonable cost structure. The entire nation is under lockdown for three weeks. Avenue Supermart’s sales became skyrocket. Reason for same is buying of essential items in panic by people.

Radhakishan Damani’s Supermarts works on a low-cost model. There is No advertising cost and tough negotiating with vendors. They give fewer choices of unnecessary items . However, D-Mart’s competitors have not made profits under the same conditions. The future group operates a big bazaar and is the second-largest retail chain. It has more than 1300 stores around the nation.

He is the only billionaire whose net worth is increasing among 12 richest Indians. Some of the Indian Businessmen who saw significant dropout in their wealth are:

  • Mukesh Ambani, richest Indian, reported a loss of 28% of net worth. it happened in just two months due to widespread pandemic.
  • Gautam Adani, Chairman of Adani Group, his net worth eroded by $6 billion or around 36 percent.
  • Shiv Nadar, the founder of HCL technologies, lost 26 percent or $5 billion.
  • Uday Kotak, Managing Director of Kotak Bank, his net worth eroded by 28 percent or $4 billion.

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