Rakesh Jhunjhunwala: The Big Bull of India
Rakesh Jhunjhunwala, popularly known as ‘RJ’ in the corporate circle, the ‘Big Bull’ of India has passes away today (14 August 2022) morning at the age of 62.
Birth
Rakesh Jhunjhunwala was born on 5 July 1960 and grew up in a Rajasthani family, in Bombay, where his father (Radheshyam Jhunjhunwala) worked as an Income Tax officer.
Education
Mr. Jhunjhunwals is a graduate from Sydenham College of Commerce and Economics (Bombay) and thereafter enrolled at the Institute of Chartered Accountants of India (ICAI).
Occupation
By profession, Rakesh Jhunjhunwala is a Chartered Accountant and a stock market trader and investor.
Stock Market Journey
With a keen interest in the stock market, Mr. Jhunjhunwala started investing with INR 5000 capital in 1985.
The first big profit of Rakesh Jhunjhunwala was INR 5 lakh in the year 1986, where he bought 5000 shares of Tata Tea Ltd at INR 43 per share. In just 3 months of his buying Tata Tea share price surged from INR 43 to INR 143 odd levels.
Between 1986 and 1989, he earned almost INR 20 to 25 lakh of profit.
But, Rakesh Jhunjhunwala made his biggest fortune out of Titan share, where he first bought shares of Titan Ltd in the year 2002-2003 at a price of INR 30 to 32 per share. Since then, he keep purchasing and selling Titan shares. Jhunjhunwala owned Titan shares worth of INR 11,000 Cr plus with a stake of 5.10% or 4,48,50,970 shares in the company as per last quarter.
Rakesh Jhunjhunwala managed his own portfolio as a partner in his asset management firm, RARE Enterprises. Currently, stocks like Nazara tech, Tata Motors, and Titan besides many are found in rakesh jhunjhunwala portfolio
During his carrier, Mr. Jhunjhunwala has served as the chairman of Aptech Limited and Hungama Digital Media Entertainment Pvt. Ltd.
He also sat on the board of directors of Bilcare Limited, Concord Biotech Limited, Geojit Financial Services, Nagarjuna Construction Company Limited, Prime Focus Limited, Praj Industries Limited, Provogue India Limited, Viceroy Hotels Limited, and Tops Security Limited.
Akasa Air is the recent and last start-up by Mr. Jhunjhunwala where he co-founded the airlines with former Jet Airways CEO Vinay Dubey.
According to the Forbes data, rakesh jhunjhunwala net worth is estimated at INR 40,000 Cr (5.5 Billion USD) as of July 2022 and he is the 36th richest man in India.
Personal Life
Rakesh Jhunjhunwala married Rekha Jhunjhunwala on 22 February 1987 and there is a daughter Nishtha and twin sons Aryaman and Aryaveer in rakesh jhunjhunwala family.
Demise
On 14 August 2022 morning, Mr. Jhunjhunwala admitted to Breach Candy Hospital (Mumbai) due to uneasiness in health and later on declared died. Doctors at the hospital reported that he suffered from kidney and cardiac related issues.
RIP the legend!
The person who teaches us all to be optimistic about the India Growth Story and be bullish and bold at all times…. Mr. RJ
Also Read: Nifty prediction for August 2022
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