Everyone in this world wants to earn money and become rich. Although, over 90 percent of the peoples fail to do so. But today we are going to cover the biography of Rakesh Jhunjhunwala who achieved a peak of 10 thousand crores with only 5 thousand rupees. His life story is going to be very inspirational for everyone in the world.
He will teach how to become rich with a little amount of money. Overall, here we will see everything of Rakesh Jhunjhunwala including his birth, education, career, age, net worth, strategies, and many things.
Let begin this inspirational biography of Rakesh Jhunjhunwala and get inspired.
|Rakesh Jhunjhunwala Biography, Birth, Age, Net Worth and More|
|Birth Date||5 July 1960|
|Birth Place||Hyderabad, Telangana, India|
|College||Sydenham College of Commerce & Economics, Mumbai|
|University||The Institute of Chartered Accountant of India|
|Education||B. Com and Chartered Accountant|
|Profession||Investor, Trader, Businessman, Chartered Accountant|
|Net Worth||$4.3 Billion|
|Parents||Father- Radheshyamji Jhunjhunwala
Mother- Urmila Jhunjhunwala
|Siblings||Brother- Rajesh Jhunjhunwala
Sister- Sudha Gupta and Neena Sanganeria
|Sons||Aryaman Jhunjhunwala and Aryaveer Jhunjhunwala|
|Residence||Malabar Hill, Mumbai|
Who is Rakesh Jhunjhunwala?
Rakesh Jhunjhunwala is an Indian Billionaire Stock Market Investor, Trader, Businessman, and a chartered accountant.
He often referred to as the Big Bull of Indian Market and Warren Buffet of India. Also, he is widely famous as the Phoenix of the Stock Market and King of Dalal Street.
Rakesh Jhunjhunwala started his Stock Market career with only Rs 5000 which worth today over $4.3 billion (as of April 2021). As of Forbes report, Rakesh Jhunjhunwala is the 665th billionaire of the world and 54th richest person of India. Below in this biography, we will see his whole career, from his birth to yet where he is.
Markets are like women, always commanding, mysterious, unpredictable, and volatile.
– Rakesh Jhunjhunwala
Rakesh Jhunjhunwala was born on 5 July 1960 in an educated family in Hyderabad, Telangana, India. His father, Radheshyamji Jhunjhunwala was an Income Tax Officer, and his mother, Urmila Jhunjhunwala was a homemaker.
He has a brother and two sisters. His elder brother, name Rajesh Jhunjhunwala is also a charted accountant. And his sister’s name, Sudha Gupta and Neena Sanganeria.
His father was also a stock market trader from his modern age. Jhunjhunwala’s always used to listen to his father’s discussion about the stock market. As he was very curious about the stock market so once he asked his father about the reason for fluctuations in stock prices.
His father advised him to read newspapers daily because this is the news that makes the stock prices up and down.
Jhunjhunwala also asked his father to enter the stock market. But his father denied the request and suggested him to first get a graduate degree from a college.
Education of Rakesh Jhunjhunwala
Rakesh Jhunjhunwala started his elementary education in an average school. Later he went to Mumbai where he enrolled in Sydenham College of Commerce and Economics for his Commerce education. After completing his education there, he thought to become a Chartered Accountant (C.A.).
Therefore, he joined The Institute of Chartered Accountant of India to further achieve a C.A. degree.
He was started learning about the stock market while he was in college. After there, he came into the Stock Market as a simple investor but today he is the best. Further in this biography, we will see how Rakesh Jhunjhunwala succeeded to become the Big Bull.
Rakesh Jhunjhunwala Career
Rakesh Jhunjhunwala debuts his stock market career in 1985 with Rs 5000 only. Then Sensex was hovering around 150 points (as of 2021 it has crossed over 50,000 points). His father was hardly advised him to not ask his friends for investment.
He shortly gets a client whom he convinced to invest 1.5 lakh for a return of 18%. Another client met who gave him 10 lakhs for investment.
Rakesh Jhunjhunwala made his first biggest profit when he bought the shares of Tata Tea at Rs 43 and sold it at Rs 143. Further, he invested in more companies like Bata, Sesa Goa, Apollo Hospitals, and Bharat Electronics. During the period 1986-1989, he made a profit of approx. 20 to 25 lakhs.
Jhunjhunwala’s all-time best investment is in TITAN whose share he bought at an average of Rs 3 which is now above Rs 1500. Even his major investments are still in this company. As of 30 September 2020, his investment worth 7697.80 (equal to a 5.52% stake) in Titan Company. Jhunjhunwala’s other great achievement was buying the shares of Lupin Ltd. at Rs 150 which soon climbed sharply to Rs 975.
These victories in his career made him the King of the Dalal Street.
Rakesh Jhunjhunwala’s biggest loss was during the market crash of 2008. His every stock was felled over 30% which he recovered along with the market recovery in 2012. His efforts and patience led him to the richest person’s list. As of Forbes 2020 report, he is the 54th richest person in India.
Apart from Stock Market
Rakesh Jhunjhunwala is the chairman of Hungama Digital Media Entertainment Pvt. Ltd. In fact, he has also co-produced some movies including English Vinglish in 2012 and Shamitabh in 2015.
He also runs his private equity firm, Rare Enterprises. The firm is named after the first two letters of him and his wife, is Ra from Rakesh and Re from Rekha.
Rakesh Jhunjhunwala is also the board member of many big companies. Such companies are prime focus Ltd, Geojit BNP Paribas Financial Service, Praj Industries, Concord Biotech, and many more.
Apart from these all, Rakesh Jhunjhunwala has created a lot of moments in his biography which are untold.
Believe and Vision
Rakesh Jhunjhunwala has great aptitudes in the stock market. He believes in the future growth of the Indian economy. Jhunjhunwala is a patience-following man which was proved during the world market crisis in 2008. Everyones were selling their stocks but he was alone believing in the future growth that helped him from loss, as the market recovered in 2012.
He idolizes Radhakrishnan Damani as his mentor. Radhakrishnan is also an Investor and owner of DMart.
Jhunjhunwala and Radhakrishnan, both were doing short selling during the Harshad Mehta phase where they succeeded to earn a lot of money. During an interview, he was asked about Harsh Mehta as he also referred to as the Big Bull. Then he said,
No, I made a lot of money by short selling. Harshad Mehta was a dream. I made one of the biggest fortunes of my life by short selling in 1992. In fact, I will tell you about an incident. We started short selling from 4200. So, BSE CEO Mr. Mayya would call me and say you are short selling, I will take your badge. Again, he called me at 3500 at 3000 and then he called me when the index was 2200. I told him Mr. Mayya, wouldn’t you have been happy if you had joined me, instead of firing me at every stage?
Next Read: Dr. Vivek Bindra biography
Rakesh Jhunjhunwala was married to Rekha Jhunjhunwala on 22 February 1987. Later, Jhunjhunwala led her to become a stock market investor. And today, Rekha Jhunjhunwala is a smart investor and trader.
She recently made a lot of profit in 2021 via trading in NCC. They have also a daughter, Nishtha Jhunjhunwala, and two sons, Aryaman Jhunjhunwala and Aryaveer Jhunjhunwala.
Rakesh Jhunjhunwala loves to eat Dosa and is a big fan of Amitabh Bachchan. He also owns a standard car of Mercedes Benz S -Class. His net worth is around $4.3 (as of April 2021).
The Bottom Line
Rakesh Jhunjhunwala was born in an educated and well-developed family on 5 July 1960. He used to listen to his father’s conversation with their friends about the stock market. He enjoyed it. So, once he asked his father about the stock market and also asked to enter them. But his father suggested him to first get a degree in any subject.
He did the same and later enrolled in the stock market. He has made a lot of profit from his starting time. Rakesh Jhunjhunwala believes in long-term investment and had a great patience ability. He has also trapped in the market during the global market crisis in 2008.
However, he stood upon his belief and waited for the recovery. And he also won as the market recovered in 2012.
He gives a great lesson of patience to the investors. Never do panic when your portfolio turns negative. Believe in your investment in fundamentally strong stocks.
Hope you inspired by this inspirational biography of Rakesh Jhunjhunwala. We would like to hear your feedback in the comment section.