‘Real Money Is With Gujjus’ Billionaire Co-founder Of Zerodha, Nithin Kamath’s Viral Tweet Sparks Debate
“Real money is with Gujjus.”
Zerodha’s billionaire boss and co-founder, Nithin Kamath, tweeted his observation on the Gujarati folks trading in India, with statistical proof. He commented that 80% of equity derivative trade is done by Ahmedabad and Mumbai. Per the data, Mumbai accounts for 64.28% of equity trades, while Ahmedabad’s share is 17.53% for the period of November 2024. Kamath also noted that despite the largest share in wealth, Gujarat accounts for a mere 8% of the total registered investors. He warns that the share has been falling.
Btw, Gujarat accounts for just 8% of the total registered investors, and the share has been falling. pic.twitter.com/yljNeW8xfN
— Nithin Kamath (@Nithin0dha) January 6, 2025
Kunal Shah of Cred quipped, “Risk hai toh Ishq hai.” “We Gujjus think everything with a business perspective,” wrote one user. Another user stated that “Gujarat mainly deals in dabba trading, hence the 8% of total registered investors.” One user begged to differ from Nithin Kamath’s observation.
We Gujaratis trade in stocks, but that doesn’t mean we are good investors. Trading in stocks also doesn’t mean we made our money through trading or investing in stocks. Someday, someone should analyze Gujarati investing to find out that we are not as good as people think we are!
The Internet further reminded that the top 5 richest people in India have Gujarati roots, including the top two, who are Asia’s richests, namely Mukesh Ambani and Gautam Adani. In the Forbes Real Time Billionaires index, Reliance mogul Mukesh Ambani is ranked 18, with a net worth of $97.1 billion, while with a net worth of $59.9 billion, Gautam Adani is on the 25th spot. Both the billionaires are no more in the elite $100 billion club.
We GUJARATIS🇮🇳🚩 pic.twitter.com/Oh78HnIyVx
— काजू कसाटा / શનિ 🇮🇳 (@kaju_boy8890) January 7, 2025
Risk hai to Ishq hai.
— Kunal Shah (@kunalb11) January 6, 2025
We Gujju think everything as Business perspective. But now, I am seeing a lot of people moving out of India gradually due to the pathetic tax structure
— Ronak Unadkat (@Ronak_Unadkat) January 6, 2025
Gujarat majorly deals in Dabba trading hence just accounts for 8 % of total registered investors
— Atul Modani (@atulmodani) January 6, 2025
We Gujaratis trade in stocks, but that doesn’t mean we are good investors
Trading in stocks also doesn’t mean we made our money through trading or investing in stocks
Someday, someone should analyze Gujarati investing to find out that we are not as good as people think we are!
— Kapil Bhatt (@KapilV_B) January 6, 2025
See Also: Zerodha’s Billionaire Boss Nithin Kamath Weighs In On WFH Culture: ‘It’s Great For Some BUT…’
Cover: Patrick Gawande / Mashable India
