damani: Most astute speculator, wisest investor: Fund manager after meeting Radhakishan Damani

Taking to Twitter after meeting Damani, Dharamshi said Damani was an immensely successful builder and a silent philanthropist, who is only of a kind.

“Most astute speculator, wisest investor, immensely successful business builder and silent philanthropist. One of a kind. One and only. Humble and recluse,” Dharamshi said in a tweet.

Stock market trader-turned-investor Radhakishan Damani, who also runs retail chain

, publicly owns 15 stocks worth over Rs 1.59 trillion, according to the latest.

The ace investor has picked stakes in three new companies

, , and during the December quarter, while he reduced positions in , and .

Damani owes most of his wealth to Avenue Supermarts. Some of the other stocks in his portfolio include

, Blue Dart Express, VST Industries among others.

According to an earlier report by Hurun India rich list, Damani is currently fifth richest Indian with a wealth of Rs 1.75 trillion. In the last five years, the wealth of Damani has increased by 280 per cent or Rs 1,28,800 crore.

Damani controls Avenue Supermarts, a Mumbai-based retail chain specializing in low-priced consumer goods. The publicly traded business sells food, clothing and other consumer products in more than 200 DMart shops across India.

After making hundreds of millions of dollars from stock market investments, Damani turned into an entrepreneur by opening DMart stores in 2002. The reclusive billionaire, who avoids making public appearances and giving media interviews, was a very close friend and mentor to ‘Big Bull’ Rakesh Jhunjhunwala, who passed away recently.

The friendship between Rakesh Jhunjhunwala and Damani was no secret to the world, despite contrasting personalities. While Jhunjhunwala was known for erratic temper and outspoken views in media interviews, Damani largely stays away from the media interactions.