Achi news desk-
This is the reason why Nikhil Kamat, who earns crores, lives in a rented house.
Zerodha founder Nikhil Kamath, who earned billions, still lives in a rented house. He has not bought a house so far, he gives a big reason behind this. In fact, Nikhil Kamath is against investing in property. His reserve regarding money and property is very clear. According to him, there is no real wealth in Bengaluru, rather it is only paper money. Let us tell you why he didn’t buy the house…
Why does Nikhil live in a rented house?
Nikhil Kamat lives in a rented house. He believes that real estate prices are too high and wasteful. He said I prefer to live in a rented house rather than buy a house. House and office prices and interest rates are beyond limits. There is no logic behind such high prices. He doesn’t think his mind is going to change anytime soon. Nikhil Kamat said I am paying very low rent. On the other hand, a lot of capital is invested in buying a house and the returns are not good either.
Mother and father lived worried about them
He said he left school and started working. His parents were very worried about this. He didn’t expect much from me. I come from an educated South Indian family. We were under pressure to be successful as our relatives’ children. Despite this, my parents were patient with me and handled the situation well.
Net worth is in billions
In the year 2010, Nikhil started Zerodha along with his brother Nitin Kamath. Along with Zerodha, he also started Gruhas, the True Beacon hedge fund. Along with a money management company, he started fintech incubator Rainmatter and Rainmatter Foundation. Zerodha changed his destiny. Nikhil became a billionaire at just 34 years old. According to Forbes, the joint net worth of Nikhil Kamath and Nitin Kamath is 3.45 billion dollars (around 28 thousand crores). Now Nikhil has decided to donate most of his earnings. He has decided to donate half of his earnings for improvement in the fields of climate change, energy, education and health.
