New Delhi (India), 6th April 2023: The co-founders of Zerodha, Nithin and Nikhil Kamath, have formally ascended to the Forbes World’s Billionaires List for 2023. Nithin Kamath, the CEO of India’s biggest stockbroking firm, is rated 1104 and is thought to be worth $2.7 billion. Nikhil Kamath, the organisation’s chief financial officer and owner of the financial management firm True Beacon, is listed at number 2405 on the list with a net worth of $1.1 billion.
Nithin Kamath founded the discount brokerage business Zerodha in 2010 with his sibling Nikhil. The company offers inexpensive stock, currency, and commodity trading services.
The company has disrupted the Indian brokerage industry by offering its clients low-cost, user-friendly trading tools. In terms of “active retail clients,” it is currently one of the largest brokerages in the nation.
Elon Musk, the CEO of Tesla and Twitter, who had a net worth of $180 billion, was also knocked off the top spot on the ranking. With a net worth of $211 billion, Bernard Arnault, Chairman of the French luxury goods firm Louis Vuitton (LVMH), passed him in wealth.
However, it is interesting to note that on Forbes’ list of “Real-Time Billionaires,” the two billionaires frequently change places. Jeff Bezos, the founder of Amazon, dropped to third place with a net worth of $114 billion after suffering losses of $57 billion and a nearly 40% fall in the value of his company’s stock.
It should be mentioned that the only other Indian in the top 10 Billionaires list is Mukesh Ambani, the founder and chairman of Reliance Industries. He bagged the ninth place on the list.
Forbes stated, “The United States still boasts the most billionaires, with 735 list members worth a collective $4.5 trillion. China (including Hong Kong and Macau) remains second, with 562 billionaires worth $2 trillion, followed by India, with 169 billionaires worth $675 billion.”
