Zerodha Co-founders Nithin and Nikhil Kamath Make It to Forbes 2023 Billionaires List
- ByStartupStory | April 6, 2023
The co-founders of Zerodha, Nithin and Nikhil Kamath, have been named as new entrants to the Forbes 2023 billionaires list. Nithin Kamath, the CEO of the company, has been ranked at 1104 with a staggering $2.7 billion in wealth, while his brother Nikhil Kamath has been placed at rank 2405 with $1.1 billion in wealth.
Zerodha, a leading Indian financial services company, was established in 2010 with the goal of providing low-cost and user-friendly trading platforms to its customers. The company’s innovative business model, which charges a flat fee per trade instead of a percentage of the trade value, has revolutionized the traditional brokerage industry in India.
Nithin and Nikhil Kamath’s journey to becoming billionaires is a story of hard work and determination. They grew up in a middle-class family in Bangalore and developed a passion for the stock market at a young age. Nithin dropped out of college to pursue trading full-time, while Nikhil completed his studies and worked in the corporate sector.
In 2010, the Kamath brothers joined forces to establish Zerodha, with the aim of making trading accessible and affordable for everyone. The company’s business model quickly gained popularity among traders in India, and it has since grown into one of the largest retail brokerage firms in the country, with over 6 million clients and daily trading volumes of over $10 billion.
Zerodha has also expanded into other areas of financial services, including mutual funds, insurance, and digital gold, making it a one-stop-shop for all financial needs.
Nithin and Nikhil Kamath’s inclusion in the Forbes 2023 billionaires list is a testament to their hard work, dedication, and innovative thinking. They have disrupted the traditional brokerage industry in India and provided affordable and accessible trading platforms to millions of people.
India has 169 billionaires on the list this year, with Mukesh Ambani at rank 9, Gautam Adani at rank 24, and Shiv Nadar at rank 55. The United States has the most billionaires, with 735 list members worth a collective $4.5 trillion, followed by China with 562 billionaires worth $2 trillion.
Bernard Arnault of LVMH is currently the richest man in the world, with Elon Musk coming in second. With the success of Zerodha and the Kamath brothers, India’s representation on the Forbes list is expected to grow in the coming years.
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