Rakesh jhunjhunwala Born on July 5, 1960, Jhunjhunwala grew up in a Rajasthani family, in mumbai. Where His father worked as an Income Tax Commissioner. He graduated from Sydenham College and thereafter enrolled at the Chartered Accountants Institute of India in 1985.
He started his investment journey in the equity markets with just Rs 5,000 in 1985. One of his first big profits was when he bought 5,000 shares of Tata Tea at Rs 43 and secured Rs 0.5 million in 1986 within 3 months of trading. In the next few years, He made a number of good profits from stocks. between 1986-89, he earned Rs 20-25 lakhs. His next big investment was Sesa Goa. He manages a privately owned stock trading firm called “RARE Enterprises”. During his long career in the stock market, Rakesh Jhunjhunwala invested in a number of multi-bagger stocks. In 2002-03, He bought ‘Titan Company Limited’ at an average price of Rs 3 and currently it is trading at a price of Rs 2140 and In 2006, he invested in LUPIN and his average purchase price was Rs 150. Today, LUPIN is trading at Rs 635. A few other multi-baggers in Rakesh Jhunjhunwala’s portfolio are CRISIL, PRAJ IND, Aurobindo Pharma, NCC, etc.
Apart from being on the board of directors of big companies like Prime Focus Ltd, Geojit BNP Paribas financial services, Praj Industries, Concord Biotech etc. Rakesh Jhunjhunwala is also a movie producer. He has produced movies like ‘English-Vinglish’, ‘Shamitabh’, ‘Ki and Ka’. He is the chairman of Hungama Digital media entertainment Pvt Ltd. Rakesh Jhunjhunwala has also invested in Akasa Air this year, to enter the airline industry. He considered himself as both a trader and a long-term investor. According to the latest updates on Forbes, the net worth of Rakesh Jhunjhunwala is $5.1 Billion, which is equivalent to over Rs 40,000 Crores.
Rakesh Jhunjhunwala was also known as the ‘Big Bull’ or ‘Indian Warren Buffett’. Serial investor Rakesh Jhunjhunwala became a self-made billionaire through his calculated bets on the stock market at a time when not many traded in India. Now, however, we have seen a 80% rise in the stock markets over the last one year, the highest pace in fact in the last 8 years. Rakesh Jhunjhunwala created an ecosystem where investors (both domestic and foreign) have learnt to trust and lend to Indian companies and entrepreneurs. That is his lasting legacy.
The Indian stock market investor, trader, billionaire, and the promoter of the newest airline Akasa Air, Rakesh Jhunjhunwala passed away on 14 August 2022. Aged 62 years, the ace trader suffered a cardiac arrest.
