Rakesh Jhunjhunwala is an Indian businessman, investor and film producer. He is the owner of Rare Enterprises, a privately owned stock trading firm. As of 29 September 2020, he has been declared the 39th richest person in India with a net worth of 420 crores. He started investing and experimenting in stocks while studying in college. He is popularly known as the Warren Buffet of India and the King of Bull Market. He is also an active philanthropist and intends to donate almost 50% of his fortune to charitable organizations. He sponsors nearly 400 schools and advocates education for children coming from disadvantaged backgrounds.
Rakesh Jhunjhunwala- Biography
| Name | Rakesh Jhunjhunwala |
|---|---|
| Born | 1960 |
| Birthplace | Telangana, India |
| Nationality | Indian |
| Age | 60 (2020) |
| Education | Sydenham College; The Institute of Chartered Accountants of India |
| Profession | Businessman; Investor; Film Producer |
| Position | Owner of Rare Enterprises |
| Net worth | $ 2.9 billion (2020) |
| Siblings | Rajesh Jhunjhunwala; Raju Jhunjhunwala |
| Spouse | Rekha Jhunjhunwala |
| Daughter | Nishtha |
| Sons | Aryaman; Aryavir |
Rakesh Jhunjhunwala- Personal Life
Rakesh Jhunjhunwala- Education
Rakesh Jhunjhunwala- Professional Life
Rakesh Jhunjhunwala- as a Investor
Rakesh Jhunjhunwala- Rare Enterprises
Rakesh Jhunjhunwala- as a Producer
Rakesh Jhunjhunwala- Honors & Awards
Rakesh Jhunjhunwala- Personal Life
Rakesh was born in Hyderabad, Andhra Pradesh (now in Telangana), India. He was brought up in a Marwari family residing in Mumbai, where his father was employed as an income tax officer. He is married to Rekha Jhunjhunwala and the couple bear three children. He is known as a family man who loves his wife, brothers and children.
Rakesh Jhunjhunwala- Education
Rakesh studied from Sydenham College of Commerce and Economics situated in Mumbai. He was qualified as a Chartered Accountant from the Institute of Chartered Accountants of India.
Rakesh Jhunjhunwala- Professional Life
Rakesh is the chairman of Aptech Limited and Hungama Digital Media Entertainment Private Limited. The stocks of Rakesh fell down to 30% in December 2011. He somehow recovered all those losses in February 2012. These roller coasters in the journey aided him to reduce his susceptibility by trimming his portfolio to one-third. However, his utmost care to dispossess his Aptech stake, eventually had no takers.
Apart from being a businessman, he is an investor, philanthropist and also a Bollywood movie producer. He serves as the Board of directors to a bunch of Indian companies.
| Rakesh Jhunjhunwala- as the Board of Directors |
|---|
| Prime Focus Limited |
| Geojit Financial Services |
| Bilcare Limited |
| Praj Industries Limited |
| Innovasynth Techniologies (I) Limited |
| Mid Day Multimedia Limited |
| Nagarjuna Construction Company Limited |
| Viceroy Hotels Limited |
| Tops Security Limited |
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Rakesh Jhunjhunwala- as a Investor
Rakesh got inspired from his father, who used to discuss about stock trading. Eventually Rakesh took a good amount of interest in the stocks business. After completing his studies for Chartered Accountant in 1985, Rakesh made his first investment with only Rs.5000 when the Bombay Stock Exchange Index was at 150.
After one year, he got a profit of Rs. 5 lakh by selling 5,000 shares of Tata Tea at a price of Rs. 143 after buying for Rs. 43 per share three months ago.
He has invested Rs. 26 crores for the company, A2Z Maintenance. Thus he has increased his stake in the company by 3.57% to 23.2%. One of the major profits he earned was Rs. 3 lakh in 1986. Between the year 1986-1989, he earned almost Rs. 20-25 lakh profit. One of his biggest investments in the year 2020 is in the Titan Company, which is worth Rs. 4,758 crores.
A controversy arose against Rakesh, from 28 January 2020 on wards there is an ongoing investigation against him for insider trading.
Rakesh Jhunjhunwala- Rare Enterprises
Rare Enterprises is a privately owned asset management firm, which serves Indian customers. The name Rare has been derived from the combined name of Rakesh and his wife Rekha. Speaking of the year 2020, the company purchased 50 lakh shares of Indiabulls Real Estate through an open market transaction on NSE. After this move, the stock jumped 15.68% to Rs. 63.80 on the BSE. Moreover, it gained 15.97% to Rs. 63.90 on the NSE.
Rare Enterprises purchased 50 lakh scrips of the company at an average price of Rs. 57.73 per share, as per NSE's bulk deal data. This deal took a total value to Rs.28.86.
Rakesh Jhunjhunwala- as a Producer
He has been the co-producer of some major Bollywood movies like, Ki & Ka, English Vinglish, Shamitabh. Moreover, a web series named Scam 1992, where, an actor named Kavin Dace played a role based on Rakesh.
His movie English Vinglish was nominated under the criteria of Best Film (2013) through the platform of Filmfare Awards, Zee Cine Awards and Awards of the International Indian Film Academy.
There is a famous parody blog based on his life, The Secret Journal of Rakesh Jhunjhunwala, which was revealed in 2012 by The Economic Times written by Forbes columnist Mark Fidelman for a year before it was taken over by Indian author Aditya Magal.
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Rakesh Jhunjhunwala- Honors & Awards
- Rakesh was described as an Investor with a Midas touch by Forbes
- India Today described him as the pin-up boy of the current bull run
- The Economic Times called him the Pied Piper of Indian bourses
- He is ranked as the 54th richest person in India on the Forbes list, as of 12 June 2020 with a net worth of $3 billion.
FAQs
Who is Rakesh Jhunjhunwala?
Rakesh Jhunjhunwala is an Indian businessman, investor and film producer. He is the owner of Rare Enterprises, a privately owned stock trading firm.
What is the net worth of Rakesh Jhunjhunwala?
Rakesh Jhunjhunwala net worth is 420 crores.
How did Rakesh Jhunjhunwala make his money?
Rakesh Jhunjhunwala's first big profit was Rs 0.5 million in 1986. He bought 5,000 shares of Tata Tea at Rs 43 and within 3 months it was trading at Rs 143. He made a profit of over 3 times by selling the stocks of Tata tea.
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Author: Megha Rani
Source : https://startuptalky.com/rakesh-jhunjhunwala-story/
Date : 2021-04-08T15:11:00.000Z