Rakhesh Jhunjhunwala was an investor with a ‘Midas touch’ and was also known as ‘India’s Warren Buffet’
Born on July 5, 1960, Jhunjhunwala grew up in a Rajasthani family, in Bombay, where his father worked as a Commissioner of Income Tax. He graduated from Sydenham College and thereafter enrolled at the Institute of Chartered Accountants of India.
He had an estimated net worth of $5.5 Billion (as of July 2022), which made him the 36th richest man in India.
Rakesh Jhunjhunwala Passes Away
Veteran investor Rakesh Jhunjhunwala passed away on Sunday morning. The investor with a Midas touch had been dubbed “India’s Warren Buffet.”
He was both a trader and a chartered accountant, and one of the richest men in the country. Jhunjhunwala was also chairman of Hungama Media and Aptech, as well as a director of Viceroy Hotels, Concord Biotech, Provogue India, and Geojit Financial Services.
When Jhunjhunwala was in college, he began dabbling in the stock market. He enrolled at the Institute of Chartered Accountants of India, but after graduating, he decided to dive headfirst into Dalal Street. Jhunjhunwala invested Rs 5,000 in capital in 1985. That capital had grown to Rs 11,000 crore by September 2018.
After hearing his father discuss the stock market with his friends, Jhunjhunwala became interested in it. Jhunjhunwala quoted his father as saying that he should read newspapers on a regular basis because the news was what caused the stock market to fluctuate. While his father permitted him to dabble in the stock market, he refused to provide financial assistance and forbade him from asking friends for money, according to reports.
Rakesh Jhunjhunwala death
Besides being an active investor, Jhunjhunwala was the chairman of Aptech Limited and Hungama Digital Media Entertainment Pvt. Ltd. and sits on the board of directors of Prime Focus Limited, Geojit Financial Services, Bilcare Limited, Praj Industries Limited, Provogue India Limited, Concord Biotech Limited, Innovasynth Technologies Limited, Mid Day Multimedia Limited, Nagarjuna Construction Company Limited, Viceroy Hotels Limited, and Tops Security Limited.
He was popularly referred to as the “Big Bull of India” and the “King of Bull Market”, and was widely known for his stock market predictions and bullish outlooks.
Akasa Air is an Indian airline co-founded by Rakesh Jhunjhunwala and former Jet Airways CEO Vinay Dubey. The airline currently has 2 aircraft, with an additional order for 70 more aircraft, and flies to 3 cities as of 9th Aug 2022.
Rakesh Jhunjhunwala portfolio
Rakesh Jhunjhunwala portfolio: Amid sharp upside movement on Thursday trade session, ace Indian investor Rakesh Jhunjhunwala’s net worth grew around ₹861 crore after decent rise in his two portfolio stocks — Titan Company and Star Health Insurance. Titan share price yesterday appreciated from ₹2587.30 to ₹2706 apiece levels, logging ₹118.70 per share rise on Thursday session. Similarly, Star Health share price surged from ₹608.80 to ₹641 apiece levels, ascending ₹32.20 per share on Thursday session.