Rakesh Jhunjhunwala

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Rakesh Jhunjhunwala
Rj in office.jpg
Jhunjhunwala in 2004
Born (1960-07-05) 5 July 1960 (age 61)
Hyderabad, Andhra Pradesh (now in Telangana), India
EducationChartered Accountant
Alma mater
OccupationOwner of Rare Enterprises, investor, trader & film producer
Spouse(s)Rekha Jhunjhunwala
Children3

Rakesh Jhunjhunwala (born 5 July 1960)[2] is an Indian business magnate and stocks trader. He manages his own portfolio as a partner in his asset management firm, Rare Enterprises.[3][4] During his early life, Rakesh grew up in a Agarwal Family in Bombay, where his father, worked as Commissioner of Income Tax, Bombay. His family belongs to Jhunjhunu.[5] He graduated from Sydenham College[6] and thereafter enrolled at the Institute of Chartered Accountants of India.[7]

He has an estimated net worth of $4.9 billion (as of September 2021).[1][8]

Career[]

Jhunjhunwala is the chairman of Aptech Limited and Hungama Digital Media Entertainment Pvt. Ltd. and sits on the board of directors of 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. He is popularly referred to as the "Warren Buffett of India" and the "King of Bull Market".[citation needed]

Jhunjhunwala invested ₹26 Crores (US$3.4 Million) in A2Z Maintenance[9] increasing his stake in the company by 3.57% to 23.2%. He also invested INR 30.90 Crores in little known ramming mass manufacturing company Raghav Productivity Enhancers Ltd.[10]

The first big profit of Rakesh Jhunjhunwala was ₹5 lakh in 1986. Between 1986 and 1989, he earned almost ₹20-25 lakh profit.[11][better source needed]

As of 2021, his biggest investment is in Titan Company which is worth INR Rs 7,294.8 crore.[12]

Jhunjhunwala also has stakes in privately held companies such as Star Health Insurance, Metro Brands and Concord Biotech.[13][better source needed]

Currently, he is a member of the Board of Advisors of India's International Movement to Unite Nations (I.I.M.U.N.).[14][non-primary source needed]

In popular culture[]

Like the Fake Steve Jobs blog, there is a popular parody blog called The Secret Journal of Rakesh Jhunjhunwala that humorously parodies the Investor's life. On 7 June 2012, the authors were revealed by The Economic Times to be two people.[15][16] For the first year, Forbes columnist Mark Fidelman[17] and for the remaining years, Author and Writer Aditya Magal. In the web series Scam 1992, actor Kavin Dave played a role based on him.

Controversy[]

There is an ongoing investigation against Rakesh Jhunjhunwala for insider trading as of 28 January 2020.[18] As of July 2021, the SEBI has settled the issue.[19]

References[]

  1. ^ Jump up to: a b "Rakesh Jhunjhunwala". Forbes. Retrieved 5 June 2021.
  2. ^ "Five lesser known facts about stock market expert Rakesh Jhunjhunwala". India Today. 5 July 2021. Retrieved 9 July 2021.
  3. ^ Jain, Surbhi (3 July 2021). "Rakesh Jhunjhunwala birthday today: Rs 5,000 investment to now Rs 34,000 cr; journey from 'bear' to 'big bull'". The Financial Express.
  4. ^ "Jhunjhunwala's Rare Enterprises to invest in Syska LED". ETRetail.com. The Economic Times. 31 August 2021.
  5. ^ Sarkar, Kanishka (4 August 2021). "Rakesh Jhunjhunwala's Akasa Air gets NOC from Aviation Ministry, aims flight take off by 2021 end". www.cnbctv18.com. CNBC TV18. Retrieved 14 September 2021.
  6. ^ Nagar, Anupam (13 December 2019). "What does it take to make a Rakesh Jhunjhunwala? Not just Titan & Tata Tea". The Economic Times. Retrieved 7 April 2020.
  7. ^ "Five lesser known facts about stock market expert Rakesh Jhunjhunwala". India Today. 5 July 2021.
  8. ^ Shah, Vrutika. "These are the 5 richest stock market investors of India and their net worth". GQ India. Retrieved 23 May 2021.
  9. ^ "Rakesh Jhunjhunwala buys shares worth Rs 26 crore in A2Z Maintenance and Engineering Services". Economic Times. 22 May 2012. Retrieved 5 June 2012.
  10. ^ Nahar, Pawan (2 August 2021). "2,400% rally in 5 years! Rakesh Jhunjhunwala to invest Rs 31 crore in this multibagger". The Economic Times. Retrieved 9 September 2021.
  11. ^ "Business Standard Mobile Offers Who is Rakesh Jhunjhunwala, Rakesh Jhunjhunwala's net worth, Who is the biggest investor in India". Business Standard. Retrieved 6 July 2020.
  12. ^ "Rakesh Jhunjhunwala Cuts Stake In Titan Company In June 2021 Quarter". Moneycontrol. 15 July 2021. Retrieved 9 September 2021.
  13. ^ "Rakesh Jhunjhunwala". Forbes. Retrieved 7 July 2021.
  14. ^ "I.I.M.U.N. || Board of Advisors". new.iimun.in. Retrieved 17 July 2021.
  15. ^ "How parody blogger Aditya Magal impressed Rakesh Jhunjhunwala - The Economic Times".
  16. ^ KK, Sruthijith. "How parody blogger Aditya Mangal impressed Rakesh Jhunjhunwala". The Economic Times. Retrieved 30 September 2020.
  17. ^ Fidelman, Mark. "Mark Fidelman -Socialized and Mobilized – Forbes". Blogs.forbes.com one by one. Retrieved 17 November 2012.
  18. ^ "SEBI sends Rakesh Jhunjhunwala, family notices in Aptech insider trading case: Report - Money Control".
  19. ^ "SEBI settles insider trading case with Rakesh Jhunjhunwala". @businessline. The Hindu. 15 July 2021.

External links[]

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