The IIFL Wealth Hurun India 40 & under Self-Made Rich List 2020 on Tuesday released a ranking of the self-made entrepreneurs with a wealth of INR 1,000 crore, aged forty years and under from India. Nithin and Nikhil Kamath, who runs financial company Zerodha, have topped the list of self-made richest Indians under 40.
Nithin Kamath, 40, and Nikhil Kamath, 34, co-founded India's first online brokerage platform Zerodha and grew it to become country's largest stockbroker by the number of clients.
"The plan back in 2010 was for Nikhil to trade with the very little money we had left after starting Zerodha to generate enough runway for the retail broking attempt. And that’s what he did, and that’s how we survived," founder Nithin Kamath recently shared in a blog.
Ten years on, with their products and technology and education, the startup has grown massively.
"Our disruptive pricing models and in-house technology have made us the biggest stock broker in India in terms of active retail clients," Livemint.com quoted the company as saying.
Zerodha runs a number of popular open online educational and community initiatives. The company launched Varsity, a learning module to educate the young investors investing for the first time. It also runs Trading Q&A, an active forum were traders and investors, can discuss stock ideas. Then there is ‘Z Connect’ an interactive blog.
About 17 Indian entrepreneurs, aged under 40, have been featured in the Hurun’s 40 & under self-made rich list. Together, they hold a fortune of ₹45,000 crore. Interestingly, nine of the 17 billionaires have their business headquartered in Bengaluru.
Divyank Turakhia, 38, founder of media.net, took the second spot in the rich list with a net worth of Rs 14,000 crore.
The third position was shared by co-founders of Udaan -- Amod Malviya, Vaibhav Gupta and Sujeet Kumar.
For the second consecutive year, each of these Udaan founders are the biggest wealth gainers in IIFL Wealth Hurun India Rich List 2020. The startup's valuation increased from Rs 20,000 crore in October 2019 to Rs 52,500 crore in February 2020.
IIFL Wealth Hurun India 40 & Under Self-Made Rich List: