Nikhil Kamath, the co-founder of Zerodha, a company worth Rs 25 thousand crore, lives in a rented house. He began working at the age of 17, and gradually rose to the heights of success.
Nikhil Kamath, the co-founder of Zerodha, a company worth Rs 25 thousand crore, lives in a rented house. It may sound surprising to you that why a person in possession of immense wealth would choose to live in a rented house, and yet Nikhil Kamath continues to do so.
Paper money
Nikhil Kamath believes that people living in Bengaluru possess money on paper rather than real wealth. A lot of people earn money by working in large corporations but fail to make tangible assets.
Real estate investment
Nikhil Kamath advises against investing in real estate. He believes that property prices keep surging unnecessarily. The costs and interest rates associated with houses and offices have soared to incredible levels. He thinks that there is simply no logic behind the property prices being so high. This is the reason why he chooses to rent rather than purchasing his own house.
Rent in Bengaluru
Currently, Nikhil Kamath pays an affordable rent in Bengaluru. He asserts that purchasing a new home would require investment in a single asset. Furthermore, he thinks that the returns on such an investment would not be favourable.
Youngest billionaire
Nikhil Kamath held the distinction of being the youngest billionaire in India. In Forbes’ 2023 list of billionaires, he ranked 2405th wealthiest person in the world. In an interview, he once revealed that he began working at the age of 17. His first job was at a call centre, where he earned a monthly salary of only Rs 8,000.
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