Forbes recently released the India Richest List 2020. As per the list, despite a tumultuous year for the global economy, India's richest preserved their wealth. Reliance Industries Chairman Mukesh Ambani remained the wealthiest Indian for the 13th year in a row, adding $37.3 billion to his net worth.
Vaccine maker Cyrus Poonawalla entered the top 10 to feature at number six on the list as all eyes remain focused on the COVID-19 antidote. Biocon's Kiran Mazumdar Shaw became the highest wealth gainer in percentage terms. In fact, all the pharmaceutical billionaires on the list saw their wealth rise. Fewer billionaires saw their wealth erode this year than they did in 2019.
Among all the billionaires featured in the list, the youngest is Zerodha founder Nikhil Kamath aged 34 with a net worth of $1.55 billion (Rs 11.3 thousand crore). Nithin Kamath and Nikhil Kamath, the founders of Zerodha, India's biggest stock brokerage company in terms of volume of trade and of True Beacon, are the newcomers in the Forbes' list of India's 100 richest 2020.
Nikhil Kamath started equity trading at the age of just 17, having dropped out of school two years earlier to play in the Indian National Chess Championships. He co-founded Kamath Associates at the age of 19 to manage high net worth individual portfolios in the public markets. He later launched Zerodha with his brother Nithin (41) in 2010.
Zerodha and went on to disrupt the brokerage market in India. Zerodha has around three million users, making it one of the top retail brokers in the country. Their investment management firm True Beacon is aimed at ultra-high net worth investors and operates on a zero-fee model. New demat account openings and increased trading by Indians during the lockdown saw brothers Nithin and Nikhil Kamath enter the Forbes India Rich List at rank 90.
The second youngest on the list is Divya Gokulnath aged 34 with a net worth of $3.05 billion which is equivalent to Rs 2,23,50,59,82,500 crore (Rs 22.3 thousand crore). According to Forbes India Rich List 2020, BYJU's co-founder Divya Gokulnath aged 34 respectively is India's second-youngest billionaire.
Byju Raveendran's wife and BYJU's co-founder Gokulnath is a billionaire at the age of just 34. Divya was one of Raveendran's early students and she now helps him run the company and also sits on the board. After completing her engineering in Biotechnology from RV College of Engineering in Bengaluru, Divya was planning to apply to universities abroad for her Master's. In order to crack GRE, she wanted to hone her maths skills and that is when she heard of Byju Raveendran's classes from a friend.
In an interaction with a web portal, Gokulnath shared that after writing her GRE exam she had called Raveendran to say that she has written the exam. Since she was waiting for the results, he suggested that she should try teaching and take a class. So, she took many classes in Maths, English, and Reasoning. She revealed that when her results were published, she got to know that she cracked a few universities in the US but she decided to stay back.
The 39-year-old tech entrepreneur and CEO of India's famous learning app BYJU's, Byju Raveendran is the third youngest in the list aged 39. The former math tutor founded online the ed-tech company in 2011. The company's last funding round in January 2020 valued it at $8 billion. BYJU's investors include Mark Zuckerberg and Tencent. Company's flagship app, aimed at school children from grades one to 12, has registered a cumulative 42 million downloads.
An engineering graduate, Raveendran started teaching maths to friends and whoever else wanted to learn after spending a couple of years at a shipping company. He would help students prepare for entrance exams like the common entrance exam (CAT). In 2003, he appeared for CAT himself and scored 100%. Two years later, he helped some others crack CAT and then decided to take up teaching as a full-time job.