House investments

Death, net worth, age, house, investments, family and other details

Biography of Rakesh Jhunjhunwala: Veteran stock market investor Rakesh Jhunjhunwala died on August 14, 2022, at the age of 62, after suffering from kidney problems. Apparently, Rakesh Jhunjhunwala regularly underwent dialysis as both of his kidneys were failing. He was brought to Candy Breach Hospital at 6:45 a.m. and pronounced dead.

Rakesh Jhunjhunwala was an Indian billionaire, business magnate, securities trader and investor who started investing in 1985 with capital of Rs. 5,000 with his first major profit in 1986. At the time of his death, Jhunjhunwala had an estimated net worth of $5.8 billion, making him the 438th richest person in the world.

Rakesh Jhunjhunwala, apart from being an investor, has also served as chairman and director of several companies and was also one of the founders of Akasa Air. He was also nicknamed the Indian Warren Buffett or the “Big Bull of India”. Rakesh Jhunjhunwala was widely known for his stock market predictions and bullish outlook.

Learn more about Rakesh Jhunjhunwala net worth, family, early life, house and other important details.

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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

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 there. He was also the proud owner and chairman of Aptech Limited and Hungama Digital Media Entertainment Pvt Ltd.

He has also served on the board of many 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 Building Company. Limited, Viceroy Hotels Limited and Tops Security Limited.

Benefits:

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 holdings were also in many private companies such as Star Health Insurance, Metro Bands, Concord Biotech, etc.

Apart from his business partnerships, he was also a member of the Indian International Movement for the United Nations (IIMUN). He is one of the board members there.

Net worth of Rakesh Jhunjhunwala

Rakesh Jhunjhunwala was a business tycoon known for his business skills and knack for identifying profitable investments. He started investing in 1985 with capital of Rs. 5,000, with his first major profit in 1986.

At the time of his death, Rakesh Jhunkhunwala had an estimated net worth of $5.8 billion, making him the 438th richest person in the world.

At one point, Rakesh Jhunjhunwala was also investigated for insider trading. In July 2021, the Security Exchange Board of India (SEBI) had settled the issue after the full payment of Rs. 35 crores from Jhunjhunwala and his associates. At the time, Rakesh Jhunjhunwala was paying Rs. 18.5 crores and his wife paid Rs. 3.5 crores.

Rakesh Jhunjhunwala: Investments

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 was married to Rekha Jhunjunwala who is also a stock market investor. He has three children.

Jhunjhunwala was the 48th richest man in India, with a net worth of nearly $3 billion. He has contributed 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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