Here Is Everything About Rakesh Jhunjhunwala, The Big Bull Of Dalal Street

Ace stock market investor and billionaire, Rakesh Jhunjhunwala passed away at the age of 62 on August 14, 2022. He is survived by his wife, Rekha Jhunjhunwala, and three children. The veteran stock investor was also known as India’s Warren Buffett. Jhunjhunwala made a fortune by investing in some Indian companies over the years.

Though Rakesh Jhunjhunwala is a well-known name because he is one of the richest men in India. Here are a few lesser-known facts about the Big Bull of Dalal street:

Rakesh Jhunjhunwala first investment and early life

Rakesh was born in a Rajasthani family on July 5, 1960. He was brought up in Bombay. He was the son of the Commissioner of Income Tax, Radheshyam Jhunjhunwala. He did his graduation from Sydenham College and afterward registered at the Institute of Chartered Accountants of India (CA).

Starting off his journey in stock markets, while in college, he got interested and involved in the stock market with a capital of only Rs 5,000. In 1985, he started investing with Rs 5,000 when the Bombay Stock Exchange’s benchmark index Sensex was at 150 which at present trades at over 59,000. In 1986, he made a huge profit of Rs 5 lakhs which increased to almost Rs 25 lakhs by 1989. Rakesh Jhunjhunwala stocks surged to Rs 11,000 crore by September 2018.

Rakesh Jhunjhunwala family comprises his wife and three kids

Rakesh Jhunjhunwala wife Rekha Jhunjhunwala is also an investor. Rekha and Rakesh Jhunjhunwala’s daughter’s name is Nishtha Jhunjhunwala who was born in 2004 and their twin sons Aryaman and Aryaveer Jhunjhunwala were born in 2009.

Rakesh Jhunjhunwala’s portfolio includes some prominent companies

RARE Enterprises is his privately owned asset management firm where he managed his own portfolio being a partner. RARE includes the first two letters of his name and his wife’s name, Rakesh, and Rekha.

Jhunjhunwala had the Midas touch regarding investing in the Indian stock market. The stocks he purchased turned big and according to reports, Rakesh was listed as the 36th richest billionaire in India by Forbes in 2021.

Rakesh Jhunjhunwala portfolio includes companies like Titan, Rallis India, Star Health, Escorts, Canara Bank, Agro Tech Foods, Indian Hotels Company, Nazara Technologies, and Tata Motors.

He was the chairman of Hungama Media and Aptech

He also sat on the board of directors of companies such as Concord Biotech, Viceroy Hotels, Geojit Financial Services, and Provogue India. He had a stake in almost 47 companies. Rakesh Jhunjhunwala’s share list is never-ending.

 

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Rakesh Jhunjhunwala controversy made it to the news when he was investigated for insider trading

It was settled with the Securities and Exchange Board of India (SEBI) in 2021 where he and his associates had to pay Rs 35 crores and his wife Rekha had to pay Rs 3.2 crores.

Rakesh Jhunjhunwala in Scam 1992

The web series Scam 1992 in 2020 on the life of Harshad Mehta also had a character on Jhunjhunwala. Directed by Hansal Mehta, the role of Rakesh Jhunjhunwala was played by Kevin Dave. The series became very popular and there were several memes on him that became viral on social media.

There is a popular parody blog by the name ‘The Secret Journal of Rakesh Jhunjhunwala’ that contains humorous parodies of the investor’s life by Aditya Magal

Rakesh Jhunjhunwala’s recent investment is Akasa Air – India’s newest low-cost carrier

Jhunjhunwala lately teamed up with Vinay Dube, the ex-Jet Airways CEO, and Aditya Ghosh who is the former IndiGo head to launch Akasa Air. The airline commenced commercial operations on 7 August with its first flight from Mumbai to Ahmedabad. He has a 40 percent stake in Akasa Air.

India’s newest airline is aiming to operate over 150 weekly flights https://t.co/xRsOcaEnIS

— Quartz India (@qzindia) August 22, 2022

Jhunjhunwala used to love Indian movies. He has even produced three Bollywood movies — Shamitabh, English Vinglish, and Ki & Ka

Rakesh Jhunjhunwala net worth

As per Forbes list 2022, he is currently ranked as the 438th billionaire, with a net worth of $5.8 billion as of August 14, 2022.

Rakesh Jhunjhunwala death

According to New18, Rakesh Jhunjhunwala was declared dead when he was brought to the Candy Breach Hospital at 6:45 am. Rakesh Jhunjhunwala’s health was not good as he was suffering from multiple health issues including kidney ailments. He was discharged from the hospital a few weeks ago. He had a cardiac arrest and passed away on 14th August 2022.

The man who led many young minds to start up the trading journey!!

Om Shanti….🥺#Rakeshjhunjhunwala pic.twitter.com/B1wxPfUmNJ

— CA Hamza Tirlawala (@ca_hamza_) August 14, 2022

It takes a lot of hard work to be the best at something and he did what he was best at. His sudden demise is indeed saddening as Rakesh Jhunjhunwala was an inspiration and role model to many.