IF YOU HAVE A PLAN, DOES IT MATTER THAT YOU HAVE NOT FINISHED SCHOOL?
Ask Nikhil Kamath, the 35-year-old co-founder of wealth management firms Zerodha and True Beacon and India’s youngest billionaire as per Forbes India’s 2021 India Rich List.
The big name in Indian stock-broking and retail brokerage dropped out of school at the age of 15 to play chess and developed a passion for the stockmarkets and investing in asset classes. He started equity trading at the age of 17 and his first business at 19. He founded Zerodha and True Beacon with his brother Nithin in the last decade, and together, the brothers were reportedly worth $2.59 billion in 2021.
Today, Kamath is creating wealth for some of the richest people on the planet, with a disruptive product – an open-ended fund with no management fees or entry and exit fees.
This commission-free investing model has drawn comparisons with trading platform Robinhood in the United States.
How does he keep this model sustainable in the long-term and how is he looking at African investors? Kamath answers on a Zoom call from Bengaluru, known as India’s Silicon Valley and which is just the setting for his booming fintech.
This story is from the February - March 2022 edition of Forbes Africa.
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This story is from the February - March 2022 edition of Forbes Africa.
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