Zerodha founders, the richest self-made Indians

Zerodha offers financial services and stockbroking. The founders Nithin and Nikhil Kamath topped the list of self-made richest Indians under 40.

Divyank Turakhia, 38, founder of media.net, positioned in the second place with a net worth of ₹14,000 crores followed by Amod Malviya, Vaibhav Gupta and Sujeet Kumar, the co-founders of Udaan.

Nithin Kamath, 40, and Nikhil Kamath, 34 founded Zerodha, an online trading platform to offer commodity trading, mutual funds, currency trading etc.

The duo of brothers ranked first in the Wealth Hurun India 40 & Under Self-Made Rich List 2020. Their wealth increased by 58 per cent, with an estimated net worth of ₹24,000 crores.

Zerodha was founded in 2010. The company focused on the day traders initially. But, with their products and technology, they have grown enormously.

Now, it became one of the largest stockbrokers having many clients.

IIFL Wealth and Hurun India released the list of self-made entrepreneurs under 40 years with a wealth of ₹1,000 crores.

Kamath brothers who topped the list have grown over the time. They invested little money in their company and gradually developed with their services to the clients.

Zerodha also offers numerous educational initiatives to improve awareness among investors, especially newbies. Its Varsity helps educate young investors.

In addition to that, it runs an active forum for investors and traders to discuss stock ideas.

An investor can open an account in Zerodha with ₹300. There is no brokerage fee. Equity delivery investments are also free.

Zerodha charges a flat ₹20 for every trade. Thus, it attracts new clients. Each month around 2 lakh accounts has been adding to the company.

Kamath brothers have another firm True Beacon, an investment management company. It works on a zero-fee model. It neither charges account opening fee nor maintenance fee. There is no redemption fee as well. But, it charges a performance fee at the rate of 10 per cent on the gains at the end of the financial year.

Photo by William Iven on Unsplash (Free for commercial use)

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