Radhakishan Damani Net Worth

Radhakishan Damani has an estimated net worth of $13 billion, according to Forbes Real-Time Billionaires, Radhakishan Damani profile (figures as of October 20, 2026). That is down from a peak of $20 billion.

Radhakishan Damani is an Indian businessman and investor best known for founding and chairing DMart, the retail chain run by Avenue Supermarts. He started in the stock market as a broker and investor after leaving his ball bearing business. In 1999, he ran an Apna Bazaar franchise in Nerul, then stepped away from the market in 2000 to build his own retail business. That move set up his long run in supermarkets and consumer retail.

His rise in wealth came from retail and investments. Damani opened his first store in Powai in 2002, and the chain reached 25 stores by 2010 before expanding faster. Forbes says he became India’s retail king after the 2017 IPO of Avenue Supermarts. The business grew from one suburban Mumbai store into a chain selling grocery, apparel, and footwear. He also owns stakes in companies including VST Industries and had a holding in India Cements.

How Radhakishan Damani makes money

Most of Damani’s fortune comes from retail. After trying an Apna Bazaar franchise in 1999, he left the stock market in 2000 and started his own hypermarket chain. The first DMart store opened in 2002 in Powai. Avenue Supermarts later became the main engine of his wealth, especially after its 2017 IPO. Forbes says the chain grew from one Mumbai-area store into a business that sells grocery, apparel, and footwear across a much bigger network.

He also makes money from investing and property. Damani has held stakes in a range of companies, including VST Industries and India Cements. In June 2024, he and his younger brother sold their holding in India Cements to Kumar Birla. Forbes also notes a property portfolio that includes the 156-room Radisson Blu Resort in Alibag. In 2023, he and his brother reportedly paid $155 million for 28 apartments in a luxury tower in Mumbai.

Forbes net worth track

Forbes estimated Damani’s wealth at $16.5 billion in 2021, then $20 billion in 2022. It later put him at $15.3 billion in 2023 and $17.6 billion in 2024. Those swings fit a fortune tied to a listed retail company along with market investments. His wealth is also linked to Avenue Supermarts, the company behind DMart, which became the key public marker of his business after the 2017 IPO.

The recent Forbes numbers moved lower after that. Forbes put him at $15.4 billion in 2025 and $15.7 billion in 2026. On Forbes’ real-time billionaires tracker, he stood at $13 billion as of October 20, 2026. Outside the main retail business, his holdings in companies and real estate add more layers to the picture. Forbes also describes him as a low-profile investor who rarely appears at public events or speaks to the press.