Dwarakanath Thakur, affluent enough to leave the low lying ancestral home at Pathuriaghata built by Joyram, constructed a colourful new home at Jorasanko where Rabindranath Tagore was born and brought up. Nilmoni's son Ramlochan, a rich banea and businessman had adopted Dwarakanath. The family name Thakur is said to have been conferred by the people of the fishing village, Govindapur, who felt to have been privileged by being served by the Pirali Brahmins ritually. However, the members of the Thakur family proved to be immensely entrepreneurial. But still, Dwarakanath Tagore suffered a sense of injury resulting from the indignity that other superior Brahmins had inflicted on them. No member of the Thakur family, including even Rabindranath, could set up any matrimonial connection with the superior Brahmin families due to alleged caste inferiority.
Under Robert Gutlar Fergusson, a british advocate, Dwarakanath learnt, as an apprentice, the laws of the Permanent Settlement and also the laws and procedures of the supreme court of Calcutta, Sadr and Zila courts and started his legal career very successfully in 1815. Soon, he started expanding the modest Zamindari estate that he inherited from his father, Ramlochan. In 1830 Dwarakanath bought in auction the Kaligram zamindari in Rajshahi district and, in 1834, Shahazadpur in Pabna district. His zamindari had many partners and co-purchasers. But he himself held four large estates- Berhampur, Pandua, Kaligram and Shahazadpur- without partners and he placed them in trust for his sons and their descendants in 1840.
He put his Zamindari management under several European experts. Dwarakanath made a fortune from his lucrative service as a serestadar (1828) and later diwan, the Board of Customs, Salt and Opium. He served for twelve years as diwan and had a money-lending business to salt manufacturers and others. In addition to money-lending, he invested his money in the famous concern, Mackintosh and Company. He also had shares in the Union Bank when it was established in 1829.
In 1835, Government honoured him with the post of Justice of Peace, an honorary position newly opened to Indians at that time. He had investments in shipping , export trade, insurance, banking, coal mines, indigo, urban real estates and in zamindari estates.