Last Updated: 03 Jul, 2023 | Views: 371
Profession: Business Men
Other Profession(s): Investor
Famous For: One Of The Greatest Stock Market Investors India Has Ever Seen
Higher Education: A Chartered Accountant
Rakesh Jhunjhunwala, well known as “Big Bull of India” was born on 5 July 1960 in Mumbai into a Rajasthani Marwari family. His father worked as an Income Tax Commissioner. In addition to being a billionaire business magnate, he was an investor and stock trader. According to his estimated net worth, he was the 438th richest person in the world when he died. As a partner of Rare Enterprises, he managed his assets. Additionally, he was chairman and director of several companies and an active investor. In addition, he founded Akasa Air. An investigation was conducted into his insider trading in 2021, and he was subsequently settled with the Securities and Exchange Board of India (SEBI). Often called the "Indian Warren Buffett",Jhunjhunwala remarked on his success in the Indian market.
With a capital of $5,000, he began investing in 1985, and in 1986 he made his first major profit.
In 1986: Jhunjhunwala made his first big profit of $5 lakh.
In 1986 and 1989: It is estimated that between 1986 and 1989, he earned a profit of almost $25,000 to $25,000.
By 2022:He had invested more than 11,000 crores.
In 2021: Titan Company accounted for his largest investment, worth 7,294.8 crore.
In 2013: Standard Chartered bank sold Jhunjhunwala six of the twelve units of Ridgeway apartments at Malabar Hill for ₹176 crore.
In 2021:He founded Akasa Air with ex-Jet Airways CEO Vinay Dubey, a low-cost airline in India.
Awards and Achievements
Investigations were conducted against Jhunjhunwala for insider trading. In July 2021, Jhunjhunwala and his associates paid the SEBI 35 crores to settle the matter.
Jhunjhunwala had planned to donate a quarter of his worth to charity before his passing, which put his net worth at $5.8 billion.
RARE Enterprises was a privately owned stock trading company he ran. In the first two letters of the name, Jhunjhunwala refers to him and his wife, Rekha.
His love for Bollywood films has made Rakesh Jhunjhunwala well-known. He is the producer of English Vinglish, a Hindi movie.