Zerodha Founders Nithin And Nikhil Kamath Are New Entrants In Forbes Billionaires List 2023

Nithin, and Nikhil Kamath, co-founders of Zerodha, have formally risen to the status of billionaires on the Forbes World’s Billionaires List for 2023. Nithin Kamath, the CEO of India’s most prominent stockbroking firm, is ranked 1104 and is thought to have a net worth of $2.7 billion. With a net worth of $1.1 billion, the company’s chief financial officer, Nikhil Kamath, who owns the financial management firm True Beacon, is ranked 2405 on the list.

Nithin Kamath founded the discount brokerage Zerodha in 2010 with his brother Nikhil. The company offers affordable stock, currency, and commodity brokerage services. The company has disrupted the Indian brokerage industry by offering its clients low-cost, user-friendly trading platforms. Regarding “active retail clients,” it is currently one of the largest brokerages in the nation.

Elon Musk, the CEO of Tesla and Twitter, with a net worth of $180 billion, was also knocked off the top spot on the list. With a net worth of $211 billion, Bernard Arnault, Chairman of the French luxury goods company Louis Vuitton (LVMH), passed him in wealth. On Forbes’ list of “Real-Time Billionaires,” it should be noted that both 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% decline in the value of his company’s stock.

It should be noted that Mukesh Ambani, the founder, and chairman of Reliance Industries, is the only other Indian in the top 10. On the Forbes list, he is ranked ninth.

According to Forbes, “With 735 people on the list and a combined net worth of $4.5 trillion, the United States continues to have the most billionaires. With 562 billionaires worth $2 trillion, China (including Hong Kong and Macau) is still second, followed by India, which has 169 billionaires worth $675 billion.”