Warren Buffett,?Benjamin Graham, George Soros,?Rakesh Jhunjhunwala,?and Radhakishan Damani. These are some of the biggest stock market investors admired all over the world, aren't they??
Well, another name to get inspired from, is Sankarsh Chanda.?
This 23-year-old Indian stock market prodigy from Hyderabad began investing at the age of 17, and now has a mammoth net worth of ? 100 crores!
Also Read:?This 25-YO College Dropout-turned-entrepreneur Is Forbes' New Youngest Self-made Billionaire
The?23-year-old?Sankarsh is the founder of fintech startup Savart, which helps people to invest in stocks, mutual funds and bonds. His company¡¯s registered name is Svobodha Infinity Investment Advisors Private Limited.
He started the company Savart in 2017 with an investment of Rs 8 lakh after dropping out of Bennett University (Greater Noida) where he was in the second year of pursuing Btech Computer Science.
He decided to quit his studies and focus on stock trading full time and now, 35 people work for him in the fintech startup, as per a report in TheWeekendLeader.
He had started to invest in the stock market in 2016 after completing his Class 12 from Slate ¨C The School in Hyderabad. He started with Rs 2,000 and pumped in more money over the next two years.
He reportedly said ¡°I invested around Rs 1.5 lakh over a period of two years. The market value of my shares had gone up to around Rs 13 lakh in two years.¡±?
Then he sold shares worth Rs 8 lakh to start his company in 2017 and kept the rest of the money in the market and continued to invest from his earnings through his startup, as per TheWeekendLeader.
¡°My net worth now is Rs 100 crore. It is not just my stock market investment, but is also based on my company's valuation," says 23YO Sankarsh, who developed interest in the stock market after reading an article by American economist Benjamin Graham, known as the ¡®father of value investing,¡¯ at the age of 14.
Also Read:?Rakesh Jhunjhunwala Says Market Has No King; Those Who Think Otherwise Land In Arthur Jail
To invest through his company, you need to download its app and create an account. The subscription cost is Rs 4999, excluding taxes.
The app provides different investment options for various budgets. ¡°It is so simple that you can start investing with even small amounts,¡± says Sankarsh.
¡°The annual subscription plan was just for Rs 99 when we started. Then it became 299 and since January it became Rs 4999.¡±
The company¡¯s revenue comes from their subscriptions and from about 1% to 2.5% of the profit that customers make on their investments. So far, customers have made investments close to Rs 9 crore through Savart.
The company achieved a turnover of Rs 12 lakh in the first year, Rs 14 lakh in the second year, Rs 32 lakh in the third year and Rs 40 lakh during FY 2020-21.
In 2016 Sankarsh published a book titled Financial Nirvana, where he talks about the difference between trading and investment and offers tips on diversifying the investment and understanding the market.
He recommends three books to those who want to learn about money and investment - The Intelligent Investor, Security Analysis, and The First Three Minutes of the Universe.
Sankarsh is also interested in space science and has launched Stardour, an aerospace technology startup that is going to be involved in space mobility tech and deep space exploration.
For the wealth he has created at such a young age, Sankarsh loves to live a simple life.
¡°I hardly convert my stocks into cash because I am less attracted to materialistic life,¡± says Sankarsh, who likes to be in a t-shirt and shorts most of the time. ¡°I wear formals only when I need to attend a show or give a talk somewhere.¡±
Also Read:?How 'Millionaire Yang' Became China's First Stock Trading Hero
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