Rakesh Jhunjhunwala: 7 Things That Are Worth Knowing About India’s ‘Stock Market King’

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Rakesh Jhunjhunwala
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A chartered accountant named Rakesh Jhunjhunwala developed a greater interest in equities after noticing his father talking about the markets with his colleagues. On the morning of August 14, 2022, Rakesh Jhunjhunwala passed away, leaving behind a $5.8 billion wealth.

He was one of the few Indian billionaires who built their wealth by investing rather than through business and trade. The Bull of Dalal Street was the nickname of this renowned investor. So, here are the things that are worth knowing about Rakesh Jhunjhunwala:

1. Jhunjhunwala’s Investments

Jhunjhunwala is the owner of RARE Enterprises, a privately held stock trading company. He started his trip with INR 5,000 in 1985 when the Sensex was 150, and as of now, both the investment and the Sensex have increased to 59,462.

He has financial stakes in a variety of companies, including Titan, CRISIL, Aurobindo Pharma, Praj Industries, NCC, Aptech Limited, Ion Exchange, MCX, Fortis Healthcare, Lupin, VIP Industries, Geojit Financial Services, Rallis India, and Jubilant Life Sciences.

rakesh jhunjhunwala investment company

2. Rakesh Jhunjhunwala’s Personal Life and Education

Jhunjhunwala was born in Hyderabad on July 5, 1960. He grew up in Mumbai, where his father worked as an Income Tax Officer.

Rakesh registered in the Institute of Chartered Accountants of India after graduating from Sydenham College in 1985. He is married to Rekha Jhunjunwala, who is also a stock market investor.

rakesh jhunjhunwala

3. What Was His Stock Market Philosophy?

Rakesh Jhunjhunwala saw himself as a trader as well as a long-term investor. Rakesh Jhunjhunwala is also tremendously optimistic about India’s increasing economy and prosperity as an emerging market.

stock market flowchart
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4. Controversies of Rakesh Jhunjhunwala

No big businessman has made his/her name in the industry without some controversy. In the case of Mr.Jhunjhunwala, it was insider trading. Rakesh Jhunjhunwala was under investigation for insider trading as of January 28, 2020.

As of July 2021, the SEBI resolved the issue after obtaining a total payment of Rs 35 crore from Jhunjhunwala and his colleagues. Jhunjhunwala paid a sum of Rs. 18 crores, while his wife gave Rs. 3.2 crore.

controversy

5. Philanthropic Activities

According to the Mint, Rakesh Jhunjhunwala entered the Edelgive Hurun India Philanthropy list 2021 with an annual gift of Rs 50 crore.

The big bull donated almost Rs 13.69 lakh every day. According to the report, the enormous bull donated 25% of his yearly income to causes that supported education.

donation

6. His Father Refused to Give Him Money for Trading

He became interested in the stock market after overhearing a conversation among his buddies. Despite the fact that his father, Radheshyam Jhunjhunwala, permitted him to trade in the stock market, he refused to offer him money.

Jhunjhunwala borrowed money from his brother’s clients, promising larger profits in exchange.

rakesh  jhunjhunwala

7. Legacy

Rakesh was often known as the “Warren Buffet of India”.  Mr. Jhunjhunwala has left a significant legacy for his admirers and future Indian investors.

warren buffet of india

Also Read: ‘The Big Bull’ of Indian Markets Rakesh Jhunjhunwala Passes Away at 62

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