A business magnate, a stock trader or a high profile investor? Who is Rakesh Jhunjhunwala and why is he gathering headlines? Let’s give you a hint- he is all of the above-mentioned professionals, also called the Warren Buffet of India.
Let us find out all about this all in one famous man with a Midas touch below. Let us know all about Rakesh Jhunjhunwala’s net worth, his age, his portfolio and his complete biography below.
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Rakesh Jhunjhunwala: Birth, Early Life
Rakesh Jhunjhunwala was born on July 5, 1960. He was born in a Rajasthani family and lived in Mumbai (then Bombay) for most of his early life. His surname indicates that his ancestors were born in the Jhunjhunu district of Rajasthan.
Rakesh Jhunjhunwala’s father was a Commissioner of Income Tax. He graduated from Sydenham College and then also enrolled at the Institute of Chartered Accounts of India.
Rakesh Jhunjhunwala: Career & Net Worth
Jhunjhunwala had an interest in the stock market since he had 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 any money to invest there. But Rakesh did not stop there and started investing in stock markets just when he started going to college. He invested his savings of 5000 rupees in 1985, which has given him a whopping return of INR 11,000 crores today.
Jhunjhunwala has not just stopped here. He is also the proud owner and chairman of Aptech Limited and Hungama Digital Media Entertainment Pvt Ltd.
He also is on the Board of directors of many companies like 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.
Profits:
Rakesh Jhujjhunwala tasted his first profit in the year 1985. It was a small profit of 5 lakh (compared to today). It was between 1985-89 when he earned almost 25 lakh profit from his investments. Carried forward today, his biggest investment is in Titan Company which is more than 7000 crore rupees.
His stakes are also in many private companies like Star Health Insurance, Metro Bands, Concord Biotech etc.
Apart from his business partnerships, he is also a member of India’s International Movement to Unite Nations (I.I.M.U.N.). He is one of the Board of Advisors there.
Rakesh Jhunjhunwala: Investments and Net Worth
As per a popular website money control, his net worth is approximately INR 29,644 crores and he also owns 35 company holdings.
His major investments are in
Construction and Contracting – 11%
Miscellaneous- 9%
Banks- Private Sector – 6%
Finance- General- 6%
Construction and Contracting Civil- 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 almost $3 billion. He contributes to St Jude, which runs shelters for cancer-affected children, Agastya International Foundation and Arpan, an entity that helps create awareness among children on sexual exploitation. He also supports Ashoka University, Friends of Tribals Society and Olympic Gold Quest.
Rakesh Jhunjhunwala has also had his share of controversies and SEBI inquiries. His name was mentioned in an insider trading scam as well. But it has not been proven yet.
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