It is now the largest digital bank in the nation
Within the rapidly beating core of India’s economic environment, a group of youthful billionaires are revolutionising whole sectors.
These extraordinary people stand out as lights of creativity and perseverance in this colourful world of enterprise, rising to the top of riches and power.
These innovative business leaders are making enormous wealth for themselves.
From the rapidly developing fields of technology to the ageless appeal of traditional handicrafts, they are bringing significant changes to how companies are run.
Join us as we explore the fascinating lives and profound effects of India’s youngest billionaires.
Pearl Kapur
Pearl Kapur, the co-founder and CEO of Web3 cybersecurity startup Zyber 365, has been recognised as India’s youngest billionaire.
At 27 years old, Kapur attributes his wealth to his 90% stake in Zyber 365, which achieved unicorn status in just three months.
Meanwhile, Mukesh Ambani, the chairman of Reliance Industries, retains his position as India’s wealthiest individual and the 11th richest globally, boasting a net worth of $108 billion.
Zyber 365 was launched by Kapur in May 2023.
The company, headquartered in London, operates from Ahmedabad, Gujarat, as per The Economic Times.
According to the report, Zyber 365 offers a decentralised and cyber-secure operating system, prioritising environmental sustainability principles.
Net worth: $1.2 billion.
Nikhil Kamath
37-year-old Nikhil Kamath, alongside his brother Nithin Kamath, co-established Zerodha, a discount brokerage headquartered in Bangalore, in 2010.
Zerodha swiftly revolutionised the Indian brokerage industry landscape.
In addition to Zerodha, they oversee Rainmatter, a venture capital fund and True Beacon, an investment management firm that caters to ultra-high-net-worth investors through a zero-fee model.
Nikhil Kamath attained billionaire status in 2021.
This coincided with Zerodha’s valuation surpassing $1 billion, thus marking him as one of India’s youngest self-made billionaires.
His notable achievements are credited to the remarkable growth trajectory of Zerodha.
Net worth: $1.1 billion.
Binny Bansal
Binny Bansal, an Indian entrepreneur, is renowned as the co-founder of Flipkart, one of India’s foremost e-commerce giants.
Collaborating with his friend Sachin Bansal (unrelated), they established Flipkart in 2007.
Initially, Flipkart commenced its journey as an online bookstore but swiftly diversified its offerings to evolve into a comprehensive e-commerce platform.
Bansal ascended to billionaire status in 2015, coinciding with Flipkart’s valuation surpassing $10 billion.
In a landmark deal in 2018, Walmart acquired a substantial 77% stake in Flipkart for a staggering $16 billion, marking one of the most significant transactions in internet firm history at that time.
In July 2023, Bansal concluded a deal with Walmart, selling his remaining 1.8% stake in Flipkart, which reportedly valued the company at $35 billion.
Notably, he is actively engaged as an anchor investor in the venture firm 021 Capital, focusing on investments in biotechnology, agri-tech, and internet-related startups.
Net worth: $1.4 billion.
Sachin Bansal
42-year-old Sachin Bansal, the co-founder of the e-commerce giant Flipkart, joined forces in this entrepreneurial venture with a humble initial investment of $6,000.
Flipkart rapidly expanded, transforming into a comprehensive online marketplace.
Following Walmart’s acquisition of a 77% stake in Flipkart, Bansal opted to cash out, divesting his minority stake for $1 billion.
Moreover, his privately held venture, Navi Technologies, which provides a spectrum of financial products tailored to middle-class customers, has submitted a draft red herring prospectus in anticipation of a proposed IPO.
Net worth: $1.3 billion.
Nithin Kamath
Nithin is the co-founder of Zerodha which has quickly disrupted India’s brokerage market.
Based in Bangalore, Zerodha boasts a clientele of 10 million, establishing itself as one of the nation’s largest brokerage firms.
Additionally, their venture capital fund and incubator, Rainmatter, focus on investing in fintech companies and initiatives promoting financial inclusion.
The name Zerodha ingeniously merges ‘zero’ with the Sanskrit word ‘rodha’, signifying barrier.
Net worth: $2.7 billion.
Vijay Shekhar Sharma
The creator and CEO of One97 Communications, along with its consumer brand Paytm, is Vijay Shekhar Sharma.
As a fervent supporter of cutting-edge technology, he has quickly transformed Paytm.
It’s now the biggest financial services company in India focused only on mobile devices.
He established Paytm Payments Bank in 2019 to provide banking and financial services to 500 million underserved and unserved Indian consumers.
It is now the largest digital bank in the nation.
Net worth: $1.1 billion.
Shamsheer Vayalil
Shamsheer Vayalil, a distinguished Indian entrepreneur, is renowned as the founder and chairman of Burjeel Holdings, a healthcare network comprising hospitals, clinics, and pharmacies.
Hailing from a business-oriented family in the state of Kerala, India, Vayalil initially pursued medical studies.
Following the completion of his education, he relocated to the Middle East to advance his career.
Under Vayalil’s astute leadership, Burjeel Holdings has flourished, expanding to encompass 16 hospitals and 24 medical centres.
In October 2022, Burjeel Holdings underwent an initial public offering, significantly augmenting Shamsheer Vayalil’s net worth.
The company strategically enlisted Bollywood superstar Shah Rukh Khan as its brand ambassador to amplify its visibility and reputation.
Net worth: $4 billion.
Ravi Modi
In 2002, Ravi Modi established Vedant Fashions in Kolkata, naming it after his only son.
The company specialises in manufacturing traditional Indian garments, with its renowned brand Manyavar catering primarily to the Indian wedding market.
It offers a wide range of kurtas, jackets, lehengas, sarees, and gowns.
Within the company, Modi’s wife, Shilpi, holds a board seat, while their son, Vedant, serves as the chief marketing officer.
Vedant Fashions has expanded significantly since its inception, boasting 662 stores across 248 cities in India and 16 international outlets.
In May 2023, Modi divested 10% of his stake to increase the company’s public holding to 25%, in compliance with regulations set by the stock market regulator.
Net worth: $2.6 billion.
The stories of these young Indian billionaires are powerful examples of the strength of vision, tenacity, and daring amid the complex mosaic of India’s business environment.
Their quick ascent from modest origins to lofty altitudes highlights the limitless potential and innate vibrancy of India’s corporate environment.
Their long legacies will serve as enduring emblems of inspiration and desire for future generations as they continue to break new ground.
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