MUMBAI: The Indian tycoon whose net worth surged the most among peers as the deadly coronavirus roils markets worldwide can thank nation’s hoarders with millions scrambling to stock up on staples amid the world’s biggest isolation effort.
The net worth of Radhakishan Damani, who controls Avenue Supermarts Ltd, has surged almost 11% this year to US$10.7bil, singling him out as the billionaire with most gains among the 12 richest Indians whose wealth is tracked by the Bloomberg Billionaires Index.
Shares of Avenue Supermarts, which contribute nearly all of the wealth to Damani’s net worth, have advanced 24% this year.
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