Rakesh Jhunjhunwala the remarkable journey to success
Rakesh Jhunjhunwala is considered to be Warren Buffett of India. Jhunjhunwala, who holds a certificate in chartered accounting, caught the stock market bug exceptionally early in life; he used to check stock prices even when he was still in his teens, and he amassed over Rs. 34,387 crores after investing only Rs. 5,000.
Warren Buffett of India, popularly known as the “King of Bull Market,” must have heard of this moniker. He was a certified accountant as well as a stock trader. According to Forbes’ Rich List, he is the country’s 48th wealthiest individual. According to his net worth, Rakesh Jhunjhunwala is worth $5.1 billion, or more than Rs 40,000 crores. He serves as the chairman of the boards of directors for many companies, including Provogue India, Viceroy Hotels, Geojit Financial Services, and Concord Biotech. He was also the company’s CEO and Founder of Aptech. In addition, he has also worked as a producer on films including “Shamitabh,” “English-Vinglish,” and “Ki and Ka.”Jhunjhunwala, a native of Rajasthan’s Jhunjhunu district, was born on July 5, 1960; he realized early on that he wanted to be a Jhunjhunwala, who was born on July 5, 1960, in the Jhunjhunu area of Rajasthan, understood from an early age that he wanted to work in the stock market. Having passed the CA examinations in 1985, he is a Chartered Accountant (CA), and he first became interested in stock market news and developments when he was just a teenager.
Information About Rakesh Jhunjhunwala
|Born||July 5, 1960Hyderabad, Andhra Pradesh, India|
|Occupation||Businessman, Investor, Stock Trader|
|Died||August 14, 2022Mumbai, Maharashtra, India|
Indian business tycoon Rakesh Jhunjhunwala (July 5, 1960 – August 14, 2022) was a billionaire investor, trader, and investor. He started investing in 1985 with a capital of 5,000; in 1986, he made his first sizable profit.net worth at the time of his passing was $5.8 billion, ranking him as the 438th richest person in the world. His own asset management company, Rare Enterprises, counted him as a partner. He was a director and chairperson for various firms, in addition to being an active investor. He also founded Akasa Air. Jhunjhunwala was renowned for his stock market forecasts and upbeat outlooks and was frequently referred to as “India’s Warren Buffett” or the “Big Bull of India.”
Getting underway in the area of stocks
In 1985, Mr. Rakesh Jhunjhunwala invested merely Rs. 5,000 in the stock market. Sensex was at 150 points at the moment (currently, Sensex is hovering at 58,500 points). However, soon after, Rakesh Jhunjhunwala obtained Rs 2.5 lakhs from one of his brother’s clients by promising to offer more significant returns than fixed deposits. In 1986, Rakesh Jhunjhunwala made his first significant profit of Rs. 0.5 million. Tata Tea sold at Rs 143 three months after he purchased 5,000 shares for Rs 43. By selling the Tata tea stocks, he realized a profit that was more than three times what he had invested. Sesa Goa was his subsequent significant investment, which he first purchased for Rs 28 before increasing his stake to Rs 35. The stock quickly increased to Rs 65.In the upcoming years. Rakesh Jhunjhunwala generated a lot of profitable stock trades. He made between 20 and 25 lakhs rupees (1986 to 1989).
Net Valuation of Rakesh Jhunjhunwala
That capital has grown to Rs 11,000 crore by 2018. Approximately $4.6 billion is thought to be Rakesh Jhunjhunwala’s net worth. or Rs. 34,387 crores. Tata Tea provided Rakesh Jhunjhunwala with his first win on the Indian stock market. Jhunjhunwala earned and made a profit of 5 lakhs in 1986. He invested in 5000 Tata Tea shares. Within just three months, the stock rose to 143.
His first investment more than tripled. He sees himself as a trader and a long-term investor. After the 1992 Harshad Mehta Scam, Jhunjhunwala made a profit by selling shares. In one interview, Rakesh Jhunjhunwala stated that he makes a lot of money via short selling or selling shares. He belonged to a cartel of bears. Manu Manek, also known as Black Cobra, was the leader of one such Bear Cartel, which also included Radhakishan Damani (RK Damani) and Rakesh Jhunjhunwala. Mentioned in the Harshad Shantilal Mehta-based Scam 1992 Web Series. In 1992, journalist Sucheta Dalal exposed the Harshad Mehta fraud, which led to a stock market collapse. Rekha Jhunjhunwala and Rakesh Jhunjhunwala were wed in 1987. She also invested in the stock market. In 2003, he established his own stock trading company, “Rare Enterprises,” which was called by fusing his and his wife Rekha’s names.
Portfolio of Rakesh Jhunjhunwala
The period ended on March 31, 2021. He and his partners own 37 stocks that are traded publicly. Crisil, Tata Motors, Lupine, Titan Company, Federal Bank, DB Realty, Fortis Healthcare, Delta Corp, Nazara Technologies, and Tata Communications are among his favorite companies in this industry. His total wealth is Rs. 19,695.3 billion. His most substantial investments in this include Tata Motors ($1,474.4 billion), Titan Company ($1,063.2 billion), and watch and jewelry manufacturer Crisil (Rs 7,879 crore).
He had stakes in various businesses, including Star Health, Rallis India, Escorts, Canara Bank, Indian Hotels Company, Agro Tech Foods, Nazara Technologies, Tata Motors, and of course, Titan, a watch and jewelry manufacturer. Hungama Media and Aptech both have Jhunjhunwala as their chairman. Also serving on the boards of directors were Viceroy Hotels, Concord Biotech, Provogue India, and Geojit Financial Services, among others. According to PTI, his 5.05 percent stake in Titan alone is reportedly worth over Rs 11,000 crore.
Demise Of Rakesh Jhunjhunwala
When the news of seasoned investor Rakesh Jhunjhunwala’s demise hit the press, the stock market was in disbelief. The millionaire, whose Forbes estimate of his net worth was USD 5.8 billion, passed away in Mumbai at 62. The reason behind his demise was a heart attack, according to a PTI report. Rakesh was uneasy about his health on August 14, 2022, and was sent to Breach Candy Hospital in Mumbai. Later that morning, at 6:30, he passed away. According to the doctors, he also had acute multiple organ failure and kidney-related issues.
Airline of Rakesh Jhunjhuwala: Akasa Air
Akasa Air is the airline supported by Rakesh Jhunjhuwala. With former Indigo President Aditya Ghosh, who will possess a 10% investment in Akasa Air, he co-founded the newest airline and owned 40% of it. The airline intends to offer highly cheap domestic flights when it begins operations in July 2022.
Rakesh Jhunjhunwala, often known as Big Bull in India, is now fairly confident about the long-term growth of the Indian economy and the Indian equities market. Rakesh Jhunjhunwala, however, was a bear during the Harshad Mehta era and made a fortune by shorting equities after the 1992 Harshad Mehta Scam. At that time, he joined other bears in the Bear Cartel, including Manu Manek and RK Damani.