A business tycoon, stock trader, or high profile investor? Who is Rakesh Jhunjhunwala and why is he making headlines? Let’s give us a hint – it’s all about the professionals mentioned above, also known as the Warren Buffet of India.
Let’s find out all about it in one famous man with a Midas touch below. Let us know all about Rakesh Jhunjhunwala net worth, age, portfolio and full biography below.
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Rakesh Jhunjhunwala: Birth, youth
Rakesh Jhunjhunwala was born on July 5, 1960. He was born into a Rajasthani family and lived in Mumbai (then Bombay) for most of his youth. His family name indicates that his ancestors were born in Jhunjhunu district in Rajasthan.
Rakesh Jhunjhunwala’s father was an income tax commissioner. He graduated from Sydenham College and then also enrolled in the Institute of Chartered Accounts of India.
Rakesh Jhunjhunwala: career and net worth
Jhunjhunwala had been interested in the stock market since he first observed his father talking about it with his friends. Although his father guided him in the field of stock markets, he never offered him money to invest in it. But Rakesh didn’t stop there and started investing in stock markets just as he started going to college. He invested his savings of Rs 5,000 in 1985, which has now earned him INR 11,000 crore.
Jhunjhunwala did not stop here. He is also the proud owner and chairman of Aptech Limited and Hungama Digital Media Entertainment Pvt Ltd.
He also sits on the board of numerous companies such as Prime Focus Limited, Geojit Financial Services, Bilcare Limited, Praj Industries Limited, Provogue India Limited, Concord Biotech Limited, Innovasynth Technologies (I) Limited, Mid Day Multimedia Limited, Nagarjuna Construction Company. Limited, Viceroy Hotels Limited and Tops Security Limited.
Rakesh Jhujjhunwala tasted his first profit in 1985. It was a small profit of 5 lakh (compared to today). It was between 1985 and 1989 when he made almost 25 lakh profit on his investments. Reported today, his biggest investment is in Titan Company which is over Rs 7,000.
His stakes are also in many private companies such as Star Health Insurance, Metro Bands, Concord Biotech, etc.
Apart from its business partnerships, it is also a member of the Indian International Movement for the United Nations (IIMUN). He is one of the board members there.
Rakesh Jhunjhunwala: Investments and net worth
According to a popular money control website, his net worth is around INR 29,644 crore and he also owns 35 stakes in the company.
Its main investments are in
Construction and entrepreneurship – 11%
Miscellaneous – 9%
Banks – Private Sector – 6%
Finance – General – 6%
Construction and civil contractor – 6%
Pharmaceuticals – 6%
Banks – Public sector – 3%
Rakesh Jhunjhunwala: Wife, Family, Philanthropy Details
Jhunjhunwala is married to Rekha Jhunjunwala who is also a stock market investor. He has three children.
Jhunjhunwala is the 48th richest man in India, with a net worth of nearly $3 billion. He contributes to St Jude, which runs shelters for children with cancer, the Agastya International Foundation and Arpan, an entity that helps educate children about sexual exploitation. It also supports Ashoka University, the Friends of Tribals Society and Olympic Gold Quest.
Rakesh Jhunjhunwala has also had his share of controversy and SEBI investigations. His name was also mentioned in an insider trading scam. But this has not yet been proven.
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