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NEW DELHI — Leading stock broker Zerodha co-founder Nikhil Kamath has become India's youngest billionaire at the age of 37.
According to Forbes' latest list of India's 100 richest people, brothers Nithin and Nikhil Kamath were ranked 40th among the country's wealthiest people, with a combined net worth of $5.5 billion.
"They have a net worth of INR 45,754.50 crore and their rich list rank improved 18 places this year," Forbes said.
[bsa_pro_ad_space id=1]The Kamath brothers founded Zerodha in 2010, which revolutionised zero-cost equity investing.
Earlier this week, the duo featured in the Hurun India rich list of 2023.
Nithin and Nikhil Kamath were ranked 42 and 81, respectively, with net worths of INR 35,300 crore and INR 23,100 crore.
Meanwhile, Zerodha has reported a revenue of INR 6,875 crore and a profit at INR 2,907 crore for the financial year 2022-23 (FY23), representing a 38.5 per cent and 39 per cent growth in revenue and profit, respectively, as compared to the previous financial year.
In FY22, the company had reported a revenue of INR 4,964 crore and a profit of INR 2,094 crore.
In a blogpost, Nithin Kamath said that despite fierce competition from newer discount brokerage firms, the company will maintain onboarding and maintenance fees.
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