Who is Nikhil Kamath?

Nikhil Kamath is the co-founder of Zerodha, the Bengaluru discount broker he started with his elder brother Nithin in 2010. He also co-founded the investment firms True Beacon and Gruhas and hosts the WTF podcasts.

What is Nikhil Kamath's net worth in 2026?

Forbes estimated his net worth at about US$3.1 billion on 26 October 2026. On Forbes India's Richest 2026 list, Nithin and Nikhil Kamath and family were ranked 33rd with US$7.86 billion combined.

How did Nikhil Kamath start?

He left school in his mid-teens, took a night job at a call centre at 17 on Rs 8,000 a month and traded shares in the mornings, partly with his father's savings. He later managed money for colleagues and clients and co-founded Zerodha with Nithin in 2010.

Where is Nikhil Kamath from?

He was born in 1986 in Shivamogga (Shimoga), Karnataka, to a Konkani-speaking middle-class family. His father was a Canara Bank officer, and the family settled in Bengaluru when he was about nine.

What is Nikhil Kamath's education?

He did not finish school and has no college degree. Accounts of when he left differ, from age 14 to after Class 10; he taught himself trading.

What was the Nikhil Kamath chess controversy?

In June 2021 he beat Viswanathan Anand in a Covid-19 charity simul, and Chess.com closed his account for a fair-play violation. Kamath admitted he had help from people and computers and apologised; Anand said it was time to move on and the account was reopened.

How much of Zerodha does Nikhil Kamath own?

Zerodha's 2019 annual return showed him holding 28.91% of Zerodha Broking, and Open magazine reported in 2024 that he owns just under 30%. Zerodha has never raised outside capital.

Has Nikhil Kamath signed the Giving Pledge?

Yes. He signed the Giving Pledge in 2023, committing to give away at least half his wealth, and Forbes describes him as its youngest Indian signatory.

Nikhil Kamath: Zerodha Co-founder's Life Story

Key facts
Born	1986, Shivamogga (Shimoga), Karnataka; widely reported as 5 September 1986 [13] [18]
Hometown/Family roots	Konkani-speaking middle-class family; father Raghuram Kamath was a Canara Bank officer, mother Revathi taught Carnatic music; grew up mainly in Bengaluru [13] [9] [15]
Education	Left school in his mid-teens without finishing Class 12; self-taught trader [9] [12]
Family	Younger brother of Zerodha founder and CEO Nithin Kamath [14]
Company/Group	Co-founder, Zerodha (holds just under 30%); co-founder, True Beacon and Gruhas; host of the WTF podcasts [6] [17] [36] [39]
Wealth	About US$3.1 billion (Forbes real-time, 26 Oct 2026) [4]; with Nithin and family, US$7.86 billion, No. 33 on Forbes India’s Richest 2026 [5]
Known for	Co-building India’s biggest bootstrapped brokerage, interviewing Narendra Modi and Elon Musk on his podcast, and signing the Giving Pledge in his thirties [3] [47] [49]

Where it began

On 10 January 2025, a 38-year-old man sat across a table from India’s Prime Minister and confessed he was scared. “I am sitting here in front of you and talking, I feel nervous. It’s a tough conversation for me,” Nikhil Kamath told Narendra Modi, apologising in advance because Hindi was not his mother tongue [48]. The two-hour conversation on his YouTube show, People by WTF, was the first podcast Modi had ever done [47] [48].

It was an unlikely chair for him to be sitting in. Twenty-odd years earlier, Kamath had walked out of school in Bengaluru without finishing it, faked his age to get a night job at a call centre, and taught himself to trade shares with his father’s savings [10] [11]. He had no degree, no family business and no investors. “No one was going to hire me without a college degree, which meant I had to do something which didn’t require one,” he later said [12].

By the time he met Modi, he had co-founded Zerodha, India’s largest broker for several years, and was one of the youngest billionaires in the country. This is how that happened, including the parts that did not go to plan.

A banker’s son who kept moving

Nikhil Kamath was born in 1986 in Shivamogga (Shimoga), in central Karnataka, seven years after his elder brother Nithin [13] [14]. Business Today and most profiles give his birthday as 5 September 1986 [18]; Forbes lists him as 40 years old in October 2026 [4].

The family is Konkani-speaking, and Kamath has described it as “a typical, middle-class, Brahmin family” [13]. His father, Raghuram Kamath, spent his whole career at Canara Bank [15]. His mother, Revathi, taught the veena and Carnatic music [9] [13]. She later built a business of her own: she once borrowed Rs 5,000 to put on a flower display for Wipro, won a Rs 45,000 project and grew it into an events and landscaping firm [16].

A bank officer’s job meant transfers, including a few years in Karnal in Haryana [13]. “Dad worked at a bank and was transferred often. I was 9 when we finally settled in Bangalore,” Kamath said in a 2021 post [10]. He went to Oxford Senior Secondary School in JP Nagar [13].

“I absolutely hated school”

Kamath has never hidden his dislike of the classroom. “I absolutely hated school. Nobody told you ‘why’ you should do something, you just ‘had’ to do it; it was inhibiting,” he said in 2021 [10]. “By then my school had started hating me back; they didn’t want me to give my boards and asked to meet my parents.” [11]

Exactly when he left is one of several details that change with the telling. CNBC and others say he quit at 14 to play chess [12]. He told Al Jazeera he left after Class 10, at 16 [9]. In a February 2021 podcast he called the chess explanation “partly true” [13]. A detailed October 2025 investigation by Newslaundry found that he did sit his Class 10 board exams and left later, before finishing Class 12 [13]. All accounts agree on the substance: he did not finish school and never went to college.

Chess was real. His mother had pushed both boys towards it (“My father told me playing chess makes your mind sharp,” she said) [16], and Kamath played competitively as a teenager, though never as a professional [12]. He has said the game taught him “how to work under a structure, in a system, but yet try and be creative within that system” [12].

Phones, a call centre and a fake birth certificate

His first business was buying and selling second-hand mobile phones on the street during India’s early telecom boom, at about 15 or 16 [17] [9]. His mother was not impressed. In his telling, she “flushed the phones down the toilet” [10].

At 17 he took his first full-time job at a Bengaluru call centre, on a salary of Rs 8,000 a month. By his own account he was underage for the job, so he got it using a fake birth certificate [10] [13]. He worked the UK shift. “I worked the UK shift, which was between 5pm and 1am,” he told Al Jazeera [9], selling to British customers. The firm grew from about 400 people to 4,000 during the three years he was there [17].

The night shift freed his mornings. “I had a bunch of colleagues at the call centre who were trading. My brother was also into trading,” he told Open magazine [17]. Nithin, seven years older, had himself worked night shifts at a call centre while trading by day [14].

The first break

Dad’s savings and the team’s money

Kamath saved his salary until he had Rs 30,000-40,000 and began trading futures and options. The account climbed to Rs 1-2 lakh, but sometimes fell all the way to zero [17]. “Around 18, I began trading stocks properly; dad gave me some of his savings and said, ‘Manage it.’ He just had blind faith,” he said [10] [11].

Nithin has called their father the brothers’ first backer: he gave Nithin his starting trading capital and was the first client of his advisory business. “In a way, he was our VC,” Nithin wrote in 2023 [15].

Nikhil’s record began to attract money. He persuaded his manager at the call centre, and then the whole team, to let him trade for them. “During my last year there, I didn’t go to work a single day, but I was marked present; I’d even get incentives… because I was managing the entire team’s money!” he recalled [10]. He told Al Jazeera it was “the very, very beginning of asset management” [9].

Sub-brokers, then a broker

At about 20 he left the call centre to trade full-time and joined Nithin, who was then building a client book of his own [17] [9]. The brothers pooled their clients under a partnership called Kamath Associates [17]. Nithin had become a sub-broker of Reliance Money around 2006 [8] [14]. Nikhil worked through a sub-broking arrangement as well, which Newslaundry reports was with Way2Wealth [13].

Sub-broking taught them how much of the money went elsewhere. “They would give me 60 percent and they would keep 40 percent,” Nikhil said of the brokerage his clients generated [9]. Paying a big brokerage a cut on every trade, and paying tax at both ends, felt wasteful [9]. In 2009 Nithin left Reliance and the brothers decided to become a broker themselves [8].

Zerodha, 15 August 2010

Zerodha “kick-started operations on the 15th of August, 2010” [1]. The name joins “zero” with rodha, the Sanskrit word for barrier [1] [9]. The pitch was simple: a flat Rs 20 per trade, at a time when incumbents charged a percentage of the trade’s value [9] [8].

Most accounts, including Zerodha’s own, credit the idea to Nithin, who is the founder and CEO and was the public face from the start [1] [13]. Nikhil was co-founder and initially the chief financial officer [14]. Zerodha’s site says he heads financial planning [1]. At launch the firm had about six people [8].

There was no venture capital. Nithin said in 2012 that the brothers started with about Rs 2 crore from their own savings and a Singapore-based friend [8]. Nikhil’s trading profits helped keep the business alive in the early, unprofitable months. Nikhil told Al Jazeera that trading revenue bootstrapped the firm, and Newslaundry reports Nithin saying the same at a company AMA [9] [13]. Former employees remember Nikhil in those years in front of four or five screens from market open to close, running the firm’s risk desk [13].

The early years were slow. “Fintech at some level is a business of credibility,” Nikhil told Al Jazeera. “The growth in the first few years was slow; it was organic.” [9] It took about one and a half to two years to win the first 1,000 clients [9] and about three years to reach 10,000 [20].

Building the empire

Free investing, 2015

The decisive bet came at the end of 2015. On 30 November Zerodha announced that from 1 December, buying shares for delivery (investing, not trading) would carry zero brokerage. Intraday and F&O trades stayed at Rs 20 or 0.01%, whichever was lower [2]. The Economic Times called it the first Indian brokerage to give up fees on cash trades; rivals called it short-sighted [19]. Zerodha gave up an estimated 10-15% of revenue, betting that free investing would bring in far more customers [19].

Around the same time Zerodha set up Rainmatter, its fund and incubator for fintech start-ups, led by Nithin and CTO Kailash Nadh [21]. By April 2026 it had invested more than Rs 1,500 crore across over 160 start-ups [82].

No. 1, then a unicorn without investors

The model worked. Zerodha passed ICICI Securities to become India’s largest broker by active clients at the start of 2019 [83] (the full story is in our Nithin Kamath profile). In the 2019 annual return of Zerodha Broking Ltd, the shareholders were Nithin Kamath (30.91%), his company Austin Global Ventures (29.91%), Nikhil Kamath (28.91%) and Nithin’s wife Seema Patil (9.97%), with token holdings for their parents [6]. Open reported in 2024 that Nikhil still owned just under 30% [17]. That stake is the core of his fortune.

In June 2020 Zerodha bought back employee stock options at Rs 700 a share, implying a valuation of about Rs 7,000 crore, or roughly US$1 billion [22]. Then the pandemic sent millions of first-time investors to their phones. Profit for 2020-21 was “about Rs 1,000 crore”, Nithin said [24].

In January 2021 CNBC called 34-year-old Nikhil “India’s youngest new billionaire” [12]. In October 2020 the IIFL Wealth Hurun list had already ranked the brothers first among self-made Indians aged 40 and under, with Rs 24,000 crore between them [78].

The money kept growing:

2021-22: total income of about Rs 4,964 crore [25]
2022-23: revenue of Rs 6,875 crore and profit of Rs 2,907 crore [25]
2023-24: revenue from operations of Rs 9,372 crore and profit of Rs 5,496 crore in regulatory filings [26]

In September 2023 Nithin said recent buybacks valued Zerodha at about Rs 30,000 crore (US$3.6 billion), using 10-15 times profit [23]. In August 2023 SEBI also granted a mutual fund licence to Zerodha Fund House, a joint venture with smallcase [35].

The founders paid themselves well from these profits. Each brother drew Rs 72 crore in 2022-23 and Rs 96 crore in 2024-25 [63] [27].

True Beacon: managing the money of the very rich

Nikhil had always been the trader of the pair. In September 2019 he launched his own firm, True Beacon, with Richard Pattle, a former vice chairman of Standard Chartered Private Bank [36]. It ran SEBI-registered Category III alternative investment funds for very wealthy investors.

It had an unusual fee model. “Instead, we charge 10 percent of profits,” Kamath told Al Jazeera, with no annual management fee [9]. “Our typical audience tends to be billionaires essentially.” [9] The flagship fund gained about 21% in 2020, and by August 2020 it managed around Rs 300 crore [37]. By June 2022, when it added a portfolio management service, it was managing about Rs 1,500 crore for some 300 clients [38], and Kamath said all-in fees would be under 1% [36].

Gruhas and the investor years

Over time Kamath has said he became “very little a trader and mostly an investor”, partly because trading profits are taxed far more heavily than long-term gains [17]. In 2021 he co-founded Gruhas with Abhijeet Pai to back start-ups. It has invested in more than 50 companies, including Rare Rabbit [39].

Gruhas also runs pooled funds with partners:

Consumer fund (launched July 2023): run with the talent agency Collective Artists Network. It closed at Rs 100 crore plus a Rs 50 crore green-shoe option [39].
Earth Fund (March 2025): run with the Bengaluru developer Brigade Group. It is a Rs 200 crore fund with a Rs 100 crore green shoe [40].

His personal bets spread wide:

Nazara Technologies: his entities, Kamath Associates and NKSquared, put Rs 100 crore into the listed gaming company in September 2023, at Rs 714 a share [41], and another Rs 100 crore in January 2024 [42].
Ather Energy: in April 2024 he was reported to be buying the stake in the scooter maker held by Flipkart co-founder Sachin Bansal [44]. “Ather is like the iPhone of EVs in India,” he told Open [17].
Subko: he led a US$10 million round in the specialty coffee company [17] [43].
Others: Storyboard18 counts stakes in InCred, PeeSafe, Third Wave Coffee and the influencer platform Kofluence, among others [43].

Start-up investing in India has slowed since the 2021 peak (see our insight on H1 2026 start-up funding), and some of these bets have not worked out (see below).

The podcast that made him famous

For most young Indians, Kamath is not a broker. He is the man with the microphone. His show “WTF is” began in 2023 as a panel conversation about one industry at a time: gaming, alcohol, real estate, entrepreneurship [17] [53]. Each episode also carried a charity pledge decided by viewers. With Kiran Mazumdar-Shaw on one panel, for example, he pledged Rs 50 lakh [53].

In June 2024 he added “People by WTF”, one-on-one long conversations. Its first guest was Bill Gates [52]. Then came the interviews that made national news:

Narendra Modi (10 January 2025): the Prime Minister’s first podcast. Modi said he was “human, not God” and made mistakes, but not “with bad intentions” [47]. Kamath opened by saying that “growing up in a South Indian middle-class home, we were always told that politics is a dirty game” [47].
Bryan Johnson (February 2025): the American longevity entrepreneur ended a recording early because of indoor air quality in Mumbai, though he called Kamath “a gracious host” [51].
Elon Musk (released 30 November 2025): Musk told him “America has been an immense beneficiary of talent from India” [49].

Reactions were mixed. Storyboard18 listed the Modi, Musk and Bryan Johnson episodes among the most debated podcasts of 2025 [50]. Open reported that episodes often cover sectors Kamath is studying as an investor [17].

Where the wealth stands

Kamath’s fortune is mostly his stake in Zerodha, plus his holdings through True Beacon, Gruhas and his personal investment companies [17] [43]. The estimates have grown with Zerodha’s profits:

April 2023: Forbes valued him at US$1.1 billion [80].
October 2023: the Hurun India Rich List put him at Rs 23,100 crore and called him, at 37, India’s youngest billionaire [79].
Forbes 2026 billionaires list: ranked No. 1285 in the world [4].
26 October 2026: Forbes’ real-time estimate was about US$3.1 billion [4].
Forbes India’s Richest 2026 (30 September 2026): “Nithin and Nikhil Kamath & family” were No. 33, with US$7.86 billion between them [5].
August 2026: Bloomberg’s estimate for the brothers combined was about US$9.9 billion, as reported by Business Today [81].

Because Zerodha is unlisted, every such figure is an estimate. The rich lists value it from its profits, not from a market price.

The setbacks and failures

Losing money first. Kamath’s trading account went to zero more than once in his late teens [17]. “I’ve learned everything I have learned only through failure. I don’t think success teaches much,” he said on LinkedIn’s The Path in December 2024 [18].

A slow start. For years Zerodha was a small Bengaluru firm that rivals mocked. Its first 10,000 clients took about three years [20].

Losing the No. 1 spot. In September 2023 the app-first broker Groww overtook Zerodha in active clients on the NSE, 66.3 lakh to 64.8 lakh [30]. The gap has widened since. In September 2026 Groww had 1.34 crore active clients (29.16% of the market) against Zerodha’s 67.92 lakh (14.73%). Angel One, with 67.56 lakh, was close behind Zerodha [31].

The F&O squeeze. Zerodha earned most of its money from futures and options traders, and SEBI moved to curb speculative trading in late 2024. SEBI’s own study found that more than 91% of individual F&O traders lost money in 2024-25, with net losses of Rs 1,05,603 crore [34]. Nithin warned of a 30-50% drop in revenue from the index derivative rules [33].

The impact showed up in the numbers:

April-June 2025: brokerage revenue fell about 40% from a year earlier [32].
2024-25: revenue fell 11.5%, to Rs 8,847 crore, and profit fell 23%, to about Rs 4,237 crore [27].
2025-26: profit was flat at Rs 4,283 crore, on revenue around the same level as the year before [28] [29].

A gaming bet hit by a ban. Nazara, where Kamath is a significant minority investor, had bought a large stake in Moonshine Technologies, owner of PokerBaazi, in 2024. After Parliament banned real-money online gaming in August 2025, Nazara took a Rs 914.7 crore impairment on that stake [45] [46]. Kamath is an investor, not an executive, at Nazara.

An unflattering investigation. In October 2025 Newslaundry published a long critical piece examining what it called the “myths” around his “self-made” image. It set out inconsistencies in his own telling of his schooling and early life. It also argued that Zerodha’s founding idea was “very much Nithin’s” [13]. Kamath declined to be interviewed for it [13].

Controversies and allegations

No court, SEBI order or criminal case names Nikhil Kamath personally, as far as public records and major reporting show. The matters below are a public embarrassment, a pay row and Zerodha’s company-level record. The full regulatory record of Zerodha Broking, including NSE penalties over client surveillance, is in our Nithin Kamath profile.

The chess match with Viswanathan Anand (2021)

Allegation: On 13 June 2021, five-time world champion Viswanathan Anand played an online simultaneous exhibition against celebrities to raise money for Covid-19 relief, organised with Akshaya Patra [57] [58]. Kamath was the only player to beat him. Within hours Chess.com closed his account for violating its fair-play policy. “No account closure is made without hard, statistical evidence as well as a rigorous manual review,” the platform’s chief chess officer Danny Rensch said [58].

Response: Kamath admitted on Twitter that he had had help from “people analysing the game and computers”. He compared the idea of his beating Anand to beating Usain Bolt in a 100-metre race. “It is ridiculous that so many are thinking that I really beat Vishy in a chess game,” he wrote, and “In hindsight, it was quite silly as I didn’t realise all the confusion that can get caused due to this.” [58] [57]

What happened next:

Anand said, “It’s time to move on and get closure on this.” [59]
Chess.com said it had “elected to reopen all of the accounts in question during the event”, citing the players’ cooperation and Anand’s wishes [60].

Status: Closed. It was a platform sanction, not a legal matter, and Kamath apologised. It is still the most-searched controversy linked to his name.

The Rs 100 crore pay approval (2021)

Allegation: On 28 May 2021 Entrackr reported, from regulatory filings, that Zerodha’s board had approved pay of up to Rs 100 crore a year each for Nikhil Kamath, Nithin Kamath and Seema Patil [61]. It said this would make them the highest-paid founders in India’s start-up world. The figure drew criticism on social media [62].

Response: Nithin said the resolution set a ceiling and that the pay actually drawn “will be less than the Rs 100 crore figure reported in the media” [62].

What happened next:

Filings later showed each brother drew Rs 72 crore in 2022-23 [63].
In 2024-25 each drew Rs 96 crore [27].

Status: No regulatory issue. Pay is within the approved limit and disclosed in annual filings.

Zerodha’s platform outages and compliance lapses (2019-2026)

Allegation: Traders have repeatedly complained of losses when Zerodha’s Kite platform went down during market hours. In October 2023 a BSE grievance committee found that Zerodha had not acted on an exchange alert that its bandwidth use had crossed 70% before a July 2023 glitch. It ordered Zerodha to pay one trader Rs 8,225 [64]. A further outage on 3 February 2026, during a market rally, brought fresh calls for compensation [65]. Separately, in 2024 the corporate affairs ministry fined Zerodha Asset Management and its officers for going 459 days without a chief financial officer. Nithin Kamath was among those fined; Nikhil was not named [66].

Response: Zerodha paid the BSE award, though its COO called part of the committee’s finding a “blatant mistake” [64]. On the 2026 outage it said it was “looking into this” [65]. Zerodha Asset Management called the CFO lapse unintentional [66].

Status: These are company-level matters. None names Nikhil Kamath personally, and no regulator has penalised Zerodha over outages that we could find. As of 26 October 2026 we found no pending case against him.

Questions about the “self-made” story

Some readers search for a “Nikhil Kamath scam”. We found no court, regulator or major publication alleging fraud by him. The closest is Newslaundry’s October 2025 investigation [13]. It questioned how he tells his story rather than alleging wrongdoing, and he declined to be interviewed for it.

Giving back

Pledges in his thirties

In November 2021 the Kamath brothers pledged to give away 25% of their wealth in their lifetimes [67]. Nikhil is also part of the Young India Philanthropic Pledge (YIPP), launched at the same time. Members must be under 45 and commit at least a quarter of their wealth [67] [68]. “We won’t wait till people are 60 years old, we will start giving away wealth in the thirties itself,” he said in 2022 [68].

YIPP’s first project upgrades Karnataka government schools into “model schools”. By May 2024 it covered more than 210 schools, about 45,000 students and 1,100 teachers [69].

In 2023 he signed the Giving Pledge, Warren Buffett and Bill Gates’s promise to give away at least half of one’s wealth [3]. Forbes calls him the youngest Indian signatory [4], and Deccan Herald reported the same [72]. In his letter he named climate, energy, education and health as priorities. “As a young philanthropist, I expect to have more questions than answers,” he wrote [3]. He has said Bengaluru’s older givers, Nandan Nilekani and Kiran Mazumdar-Shaw among them, influenced him [76]. “There is no value to leaving money in the banks… so I would rather give it to things I believe in,” he said [76]. Azim Premji was the first Indian to sign the Giving Pledge.

What was given

The EdelGive Hurun India Philanthropy List has tracked the brothers’ giving:

2021-22: about Rs 100 crore, up 308%, placing them ninth among Indian givers. Nikhil, at 36, was the youngest on the list [70].
2022-23: Rs 110 crore, and he was again the youngest [71].

The brothers have also committed money to the Rainmatter Foundation for climate work. Nikhil gives the credit for that to Nithin. “I would take zero credit for the philanthropy at Zerodha,” he told Outlook Business in 2022 [77]. Zerodha itself set aside Rs 25 crore for Covid-19 relief [7].

Kamath argues that time counts too. “I don’t think money should be the only tangible metric for philanthropy. In many cases, time is as valuable, if not more,” he said [77].

WTFund and recognition

In April 2024 he launched WTFund, which gives Rs 20 lakh grants, with no equity taken, to founders aged 25 or under [54]. The first 15 grantees were named in September 2024 [55]. By mid-2025 it was receiving 400-500 applications a month, about 60% from smaller towns [56]. “It’s easier for somebody starting off to take risk because they have less to lose,” he said [56].

He has also been recognised for his giving:

One of Forbes Asia’s Heroes of Philanthropy in 2023 [74].
Appointed to the India advisory council of the British Asian Trust, founded by King Charles, in December 2023 [75].
Named to TIME’s first TIME100 Philanthropy list in May 2025 [73].

“Education is the only democratising element that can close the inequality gap,” he said then [73]. Open reported in 2024 that he has said he may give away all of his wealth [17].

What their journey teaches

Start where you are, not where the system says you should. Kamath had no degree and could not get a “good” job, so he took the night shift no one wanted and used his mornings to learn a trade [12] [17]. The constraint pushed him into the market early.

Track records attract capital before titles do. His call-centre colleagues, then his manager, then wealthy clients handed him money because his numbers were visible, long before he had a company or a licence [10] [9].

Partnerships work when roles are clear. Nithin built the brokerage and was its public face, while Nikhil ran trading and risk and later built his own firms [1] [13]. Two brothers with different strengths built more together than either built alone.

Bootstrapping is slow, and then it is powerful. Zerodha took about two years to win 1,000 clients [9], but by never selling equity the founders kept close to 100% of what became a business making thousands of crores of profit a year [6] [26].

Own your mistakes quickly. The chess episode could have defined him. He admitted the help, apologised within a day, and Anand moved on [58] [59].

No moat lasts forever. Zerodha lost the top spot to Groww and lost revenue to new rules within two years [30] [27]. Kamath diversified into funds, investing and media long before that happened.

A profile for general reading, based on public records and reporting as of 26 October 2026. Not investment, tax or legal advice.