Rakesh Jhunjhunwala Biography: This article will pique your interest if you are inquisitive about Rakesh Jhunjhunwala and why he is known as the Warren Buffett or Big Bull of India. Rakesh Jhunjhunwala, a Midas-touched investor, is often referred to as India’s Warren Buffett. He is a trader and a certified public accountant. According to Forbes’ Rich List, Rakesh Jhunjhunwala ranks as the 48th richest individual in India. He serves on the boards of Viceroy Hotels, Concord Biotech, Provogue India, and Geojit Financial Services, among others. Let’s examine Rakesh Jhunjunwala’s portfolio in greater detail.
Rakesh Jhunjhunwala Biography
| Name: | Rakesh Jhunjhunwala |
| Net Worth In Indian Rupees: | 44300 Crore INR |
| Salary: | 1120 Crore + |
| Monthly Income: | 100 Crore + |
| Age: | 62 Yrs |
| Date of Birth: | July 5, 1960 |
| Gender: | Male |
| Height: | 1.57 M (5′ 10”) |
Rakesh Jhunjhunwala Family
Mr. Rakesh Jhunjhunwala was born to a middle-class family in Mumbai on July 5, 1960. His father worked as a tax collector. He has been engaged in stock trading since childhood. When his father and business partners discussed investing and stock marketing, he asked his father queries such as “why do shares go up and down?” His father always answered his queries in great detail.
Rakesh Jhunjhunwala attended the Mumbai-based Sydenham College of Commerce and Economics. After graduating from Chartered Accounting in 1985, he chose to pursue a career in equities marketing. His father then imparted some invaluable career advice that has served him well throughout his career. His family is from Mumbai, where his father worked as a government tax collector. The current location of Rakesh Jhunjhunwala House in Mumbai is Malabar Hill.
Who is Rakesh Jhunjhunwala’s Wife?
Rakesh Jhunjhunwala Rekha Jhunjhunwala is the wife, and she is a stock market investor.
Who is Rakesh Jhunjhunwala’s Kids?
He is the father of two sons, Aryaman and Aryaveer, and a daughter, Nishtha.
Education
Education Sydenham College of Commerce and Economics – Mumbai for Rakesh Jhunjhunwala.
Indian Institute of Chartered Accountants
The beginning of Rakesh Jhunjhunwala’s journey to Dalal Street
After hearing his father discuss the market with his friends, Jhunjhunwala developed an interest in it. When asked if he learned this from his father, Jhunjhunwala replied that his father advised him to routinely read newspapers because news caused stock market fluctuations. However, his father allowed him to experiment with the stock market but refused to provide financial support or prohibit him from soliciting funds from acquaintances.
He borrowed money from his brother’s clients and promised to pay back more interest than bank fixed deposits. In 1986, he made his first significant profit when he purchased 5,000 shares of Tata Tea for Rs 43 and the stock rose to Rs 143 within three months. His return exceeded three times his initial investment. He amassed an additional 20-25 million rupees in three years.
He has invested successfully in Titan, CRISIL, Sesa Goa, Praj Industries, Aurobindo Pharma, and NCC over the years. In the wake of the 2008 global recession, his stock prices fell by 30 percent before recovering.
Rakesh Jhunjhunwala’s investments
Jhunjhunwala is an independent stock broker who operates RARE Enterprise. He has invested in a variety of companies, including Titan, CRISIL, Aurobindo Pharma, Praj Industries, NCC, Aptech Limited, Ion Exchange, MCX, Fortis Healthcare, Lupin, VIP Industries, and Geojit Financial Services.
Jhunjhunwala is also an active investor, serving as chairman of the boards of Aptech Ltd. and Hungama Digital Media Entertainment Pvt. He serves on the boards of Prime Focus Limited, Geojit Financial Services, Bilcare Limited, Praj Industries Limited, Provogue India Limited, Concord Biotech Limited, Innovasynth Technologies (I) Limited, Mid Day Multimedia Limited, Nagarjuna Construction Company Limited, Viceroy Hotels Limited, and Tops Security Ltd.
His bull market track record is well-known, and his stock market forecasts and bullish sentiments are well-known. He is commonly referred to as “Big Bull of India” and “King of Bull Market.”
In the late 1980s, Rakesh Jhunjhunwala launched his career by investing $100,000 in United Breweries. In 1986, he earned a $5,000 profit. Between 1986 and 1989, he made between $20 million and $25 million. Titan Company is Rakesh Jhunjhunwala’s most valuable investment as of 2021, with a market value of 7,294,8 billion.
In addition, he invests in privately held companies like Star Health Insurance, Metro Brands, and Concord Biotech. He is a member of the IIMUN Advisory Board. Akasa Air is the moniker of the airline owned by Rakesh Jhunjhunwala.
Standard Chartered Bank sold six of the twelve Ridgeway apartments at Malabar Hill to Jhunjhunwala in 2013 for Rs 176 crore. Subsequently, he paid Rs 195 crore to HSBC bank for the remaining six units in the building. In 2021, after demolishing the existing structure, he began construction on his new 13-story, 70000-square-foot residence.
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Popularity
There are also a number of popular caricatures of the Investor’s lifestyle, such as The Secret Journal of Rakesh Jhunjhunwala, which mocks Steve Jobs’s life. The Economic Times was disclosed to be written by two individuals on June 7, 2012. Mark Fidelman, a Forbes columnist, and Aditya Magal, an author and writer, served as co-authors for one year. Kavin Dave portrayed Rakesh Jhunjhunwala in the web series Scam 1992.
Rakesh Jhunjhunwala’s Net Worth
Jhunjhunwala is the forty-eighth wealthiest individual in India, with a net worth of $3 billion. Rakesh Jhunjhunwala and Associates currently own 33 publicly traded securities worth over Rs. 25,781,2 billion.
How much does Rakesh Jhunjhunwala earn each day?
Rakesh Jhunjhunwala generates approximately 1,125 crore per day on the stock market.
Rakesh Jhunjhunwala Companies
(Privately-owned) RARE Enterprises
Companies in which he has invested:
- Titan
- CRISIL
- Aurobindo Pharma
- Praj Industries
- NCC
- Aptech Limited
- Ion Exchange
- MCX
- Fortis Healthcare Services
- Lupin
- VIP Industries
- Financial Services by Geojit
- Rallises China
Life Sciences Controversies and Scams with Jubilation
As of January 28, 2020, Rakesh Jhunjhunwala was under investigation for insider trading. As of July 2021, the SEBI has resolved the issue with a total payment of 35 crores from Jhunjhunwala and his associates. Jhunjhunwala paid $18 million in compensation, while his wife paid $3.2 million.
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Investor advice from Rakesh Jhunjhunwala
1. Have Patience
He is also an effective communicator who can persuade others to adopt his ideas. This is what he has done at Titan, where he has pressed for change and won over the public. In 2005, he sold 27 crores of CRISIL shares and bought a Malabar Hill flat in Mumbai. So for him, forbearance is always the mantra of a successful investor.
2. Learn from your errors
He sold his apartment for a substantial profit. He asserts that the flat would have cost Rs 80-90 billion, but “if I hadn’t sold the 27-crore Crisil stock, its value today would be between Rs 700-800 billion.” He never apologises for errors and believes that the market is always correct; the credit goes to you. Therefore, when you make mistakes, you should embrace them immediately, learn from them, and continue. You will never progress if you refuse to acknowledge your errors.
3. Experience and abilities
Rakesh believes that one of the propelling forces behind the investment is experience, and that we learn from our mistakes. This led to one of Rakesh Jhunjhunwala’s most profitable investments.
4. Exercise
He asserts that an intelligent investor must be an active person. His long-term investing and trading activities are well-known. Trading assists him in accumulating capital at the beginning of his career. According to him, bartering keeps him on his toes.
5. Passionate
He believes that you should be passionate about your goal. He chose to work in stock marketing not because he wanted to become a well-known expert in the field, but because of his affinity for the industry.
6. Vision
Following this, he states that vision is necessary for success in any field. His rise from Rs. 5,000 to Rs. 511.9 billion demonstrates his exceptional foresight.
7. Correct choice at the right moment
Rakesh Jhunjhunwala has always been a player at precisely the correct time. Rakesh has the ability to pick the right stock at the right moment, a skill that helps him invest.
