Rakesh Jhunjhunwala Biography

Rakesh Jhunjhunwala, the renowned Indian investor and trader, is widely regarded as the greatest investor in the Indian market. With a Midas touch, he has been featured on the ‘Forbes’ richest Indians list and has earned titles such as the “pin-up boy of the current bull run” by ‘India Today’ and the “Pied Piper of Indian bourses” by ‘The Economic Times’. Apart from his successful investment career, Jhunjhunwala is also a partner in Rare Enterprises, chairman of Aptech Limited and Hungama Digital Media Entertainment Pvt. Ltd., and a co-producer of popular Bollywood movies. Additionally, he has been associated with the parody blog ‘The Secret Journal of Rakesh Jhunjhunwala’, which gained attention for its humorous take on his life. Recently, Jhunjhunwala has ventured into the aviation industry as a promoter of India’s newest airline, Akasa Air.

Quick Facts

  • Indian Celebrities Born In July Died At Age: 62
  • Family: Spouse/Ex-: Rekha Jhunjunwala, siblings: Rajesh Jhunjhunwala, Raju Jhunjhunwala
  • Born Country: India
  • Investors
  • Indian Men
  • Died on: August 14, 2022
  • Place of death: Mumbai, India
  • City: Mumbai, India
  • More Facts
  • Education: Sydenham College, Institute of Chartered Accountants of India

Rakesh Jhunjhunwala’s Career

Rakesh Jhunjhunwala, the son of an income tax officer, developed an interest in stocks while he was still in college. He was inspired by his father, who often discussed stocks with friends and taught him that stock prices fluctuate due to global events. As he became more fascinated with the stock market, he expressed his intention to invest to his father. His father advised him to invest his own money and encouraged him to get a professional qualification. Following his father’s advice, Rakesh pursued a degree in chartered accountancy.

After completing his CA in 1985, Rakesh made his first investment with only Rs.5,000 when the Bombay Stock Exchange Index was at 150. The following year, he made a profit of 5 lakh rupees by selling 5,000 shares of Tata Tea. He continued to amass profits and in 1989, he decided to bet on shares of Sesa Goa iron mining company, making a huge profit. In 2002-03, he bought 6 crore shares of Titan for an average price of Rs.3, which is now valued at Rs. 2100 crore.

What Made Rakesh Jhunjhunwala Special

Rakesh Jhunjhunwala’s success in the stock market was not solely due to luck. He believed that acknowledging and learning from his mistakes was crucial to becoming a better investor. He was known for taking risks and being bullish about his investments. He also believed that India could experience a bull run similar to Wall Street’s in the next two decades. Additionally, he was a philanthropist and intended to donate at least 50% of his fortune to charitable organizations. He sponsored nearly 400 schools and advocated for the education of children from disadvantaged backgrounds.

Behind The Curtains

Rakesh Jhunjhunwala was born on July 5, 1960, in Hyderabad, India, into a Marwari family. He completed his bachelor of commerce degree from Sydenham College and then obtained his CA degree in 1985. He was married to Rekha Jhunjhunwala and had three children. His privately owned stock trading firm, Rare Enterprises, was named after combining the first two letters of his and his wife’s names. He was known as a family man and had a close relationship with his brother, wife, and children.

In February 2012, Rakesh and his wife celebrated their 25th marriage anniversary with a star-studded party attended by renowned politicians, businessmen, and celebrities.

Health Issues & Death

Rakesh Jhunjhunwala suffered from multiple health issues, including kidney and heart problems. He was seen on a wheelchair at the launch of Akasa Air. On August 14, 2022, he experienced uneasiness and was rushed to Breach Candy Hospital in Mumbai, where he was declared dead on arrival by the doctors.

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