Zerodha co-founder Nikhil Kamath prefers Bengaluru for its self-made culture
- ByStartupStory | March 17, 2023
In an interview, Zerodha co-founder Nikhil Kamath expressed his preference for Bengaluru over other major cities like Delhi or Mumbai, citing the absence of ostentatious displays of wealth. Kamath noted that “he has witnessed extremely wealthy individuals casually wearing chappals (flip flops) in Bengaluru, something that he believes would be unlikely to occur in Mumbai”.
Kamath remarked that individuals in Bengaluru tend to be less competitive, and while some might view this as a negative trait, he believes it is actually a positive attribute, referring to it as the “best thing”.
According to the CEO of India’s largest stock brokerage firm, “people in Bengaluru don’t climb to success at the expense of others, unlike in other cities”.
Kamath noted that there is a unique aspect of Bengaluru that has proven to be advantageous, and he speculates that it “may be attributed to the more reserved upbringing of individuals from southern India”.
Nikhil Kamath, who secured the top spot on the ‘IIFL Wealth Hurun India 40 & Under Self-Made Rich List 2022’ with a net worth of Rs 17,500 crore, has previously shared details about his humble beginnings, which involved working at a call centre for a salary of Rs 8,000 per month.
Kamath dabbled in stock trading during his time at the call centre, but it wasn’t until a year later that he decided to take it more seriously. Kamath revealed that his father gave him a portion of his savings and instructed him to “manage it”, which prompted him to begin investing in stocks in earnest.
Kamath recounted that ‘his father had unwavering trust in him”, despite his lack of experience in stock trading.
Kamath’s success in investing led him to persuade his call centre manager to do the same, which proved to be fruitful. Kamath eventually stopped going to work altogether, but was still marked as present since he was handling the team’s finances. He later left his job and teamed up with his brother to establish Kamath Associates, which eventually led to the founding of Zerodha in 2010.
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