Radhakishan Damani, often called the Retail King of India, is an Indian billionaire businessman and investor. He is the founder and executive chairman of DMart, one of India’s most successful retail chains. As of 2025, Radhakishan Damani’s net worth is estimated at $15.5 billion. The self-made billionaire started his career as a stock market investor before becoming a formidable force in the retail industry. He is positioned at the 99th spot in the Bloomberg Billionaires Index.
In this article, we look at Radhakishan Damani’s net worth, his early life and career, and the rise of the DMart retail chain.
Radhakishan Damani bio
| Full name | Radhakishan Shivkishan Damani |
| Born | 1955, Bikaner, Rajasthan, India |
| Residence | Mumbai, India |
| Net worth | $15.4 billion (as of April 2025) |
| Primary business | Retail business – Founder of Avenue Supermarts (DMart) |
| Major holdings | VST Industries, India Cements, Avenue Supermarts |
| Notable transactions | Sold 24% stake in India Cements to UltraTech Cement in July 2024 |
| Lifestyle | Known for his simple white attire, maintains a low profile |
| Mentorship | Mentor to the late billionaire investor Rakesh Jhunjhunwala |
Early life and transition to retail
Radhakishan Shivkishan Damani was born on 12 July 1955, in Bikaner, Rajasthan, India. He moved to Mumbai at a very young age, where he grew up in a Maheshwari Marwari Hindu family, in a single-room apartment. His father, Shivkishanji Damani, was a stockbroker. Damani joined the family stock business and quickly gained experience in stock trading, building a reputation for innovative and long-term investments.
In 2002, Radhakishan Damani shifted his focus from the stock market to the retail business. He started the first DMart store in Powai, Mumbai, offering quality products at affordable prices to the growing middle-class market. The Powai store began what would become a highly successful retail venture.
The rise of DMart
Under Damani’s guidance, DMart experienced rapid growth. What began as a single store in Powai soon became one of India’s most successful retail ventures. In 2025, DMart has over 375 stores in India, and has become a household name in affordable shopping.
The company’s rapid growth is primarily attributed to its strong supply chain management, which strives to maintain low operational costs while ensuring a consistent flow of products to stores.
Besides efficient operations, DMart employs a customer-centric approach, offering high-quality products at affordable prices to cater primarily to the Indian middle-class population. This combination of factors has dramatically contributed to the company’s success in a highly competitive market.
The retail chain reached new heights of success in 2017 when Avenue Supermarts, DMart’s parent company, went public. The initial public offering (IPO) was a massive success and a significant boost to Radhakishan Damani’s wealth, further establishing him as one of the leading entrepreneurs in the world.
Investment portfolio
Radhakishan Damani’s investment portfolio goes beyond the retail sector. Among his most notable investments is a 34.7% stake in VST Industries, a tobacco firm known for its consistent returns. The VST investment has been a core part of Damani’s portfolio for a long time.
In July 2024, Damani offloaded a 24% stake in India Cements through a block sale to UltraTech Cement. The deal, worth around $472 million, was a strategic move as it came when the cement sector was undergoing consolidation.
Radhakishan Damani also holds stakes in other companies, including Sundaram Finance, United Breweries, and 3M India. These investments underscore Damani’s preference for established businesses across different industries, from consumer goods to financial services.
Market fluctuations and net worth
Despite his strong portfolio, Damani’s net worth has seen times of decline due to market fluctuations. In December 2024, his fortune dropped by approximately 20% due to a fall in Avenue Supermarkets’ stock price and a drop in VST Industries. These fluctuations are part of the stock market’s volatility, especially for investors with large equity positions.
As of 2025, Radhakishan Damani’s net worth is estimated at $15.4 billion. He continues to rank among the top figures on the Bloomberg Billionaires Index, reflecting the resilient nature of his investments and the constant growth of his business empire.
Personal life and philosophy
Despite being one of India’s most successful billionaires, Radhakishan Damani leads a quiet, low-key lifestyle. He is rarely spotted in public and dresses in simple white clothing, earning him the nickname Mr. White and White.
Radhakishan Damani avoids media attention and rarely grants interviews. He prefers to let his companies speak for themselves. He has influenced many investors and businesspeople, including the late billionaire Rakesh Jhunjhunwala, who often considered Damani a mentor.
