Rakesh Jhunjhunwala

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Rakesh Jhunjhunwala
20200110051742-rakeshjhunjhunwala (1).jpg
Born (1960-07-05) 5 July 1960 (age 60)
EducationChartered Accountant
Alma mater
OccupationOwner of Rare Enterprises, investor, trader & film producer
Net worthUS$3.2 billion
(July 2020) [1]
Spouse(s)Rekha Jhunjhunwala
Children3

Rakesh Jhunjhunwala (born 5 July 1960) is a business magnate. He manages his own portfolio[2] as a partner in his asset management firm, Rare Enterprises.[3]

He is the 38th richest person in India, with net worth of $3.3 billion (as of 21 January 2021).[4]

Early life[edit]

Jhunjhunwala grew up in a Marwadi Family in Mumbai, where his father, worked as Commissioner of Income Tax, Bombay. He graduated from Sydenham College[5] and thereafter enrolled at the Institute of Chartered Accountants of India.[6]

Career[edit]

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"[1] and the "King of Bull Market".[7]

Jhunjhunwala's stocks fell by up to 30% in December 2011.[8] He recovered his losses in February 2012.[9] These ups and downs forced him to reduce his vulnerability by trimming his portfolio to one-third.[10] His attempts to divest his Aptech stake had no takers.[11]

Jhunjhunwala invested 26 Crores (US$3.4 Million) in A2Z Maintenance[12] increasing his stake in the company by 3.57%, upping his stake in the company to 23.2%.

The first big profit of Rakesh Jhunjhunwala was ₹5 lakh in 1986. In between 1986 and 1989, he earned almost ₹20-25 lakh profit.[13]

As of 2020, his biggest investment is in Titan Company which is worth 4,758 Crores (approx US$600 Million).[14]

In popular culture[edit]

Like the Fake Steve 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[edit]

There is an ongoing investigation against Rakesh Jhunjhunwala for insider trading as of 28 January 2020. [18]

References[edit]

  1. ^ Jhunjhunwala topic page. Forbes.com
  2. ^ Kumar, Raj (8 June 2020). "Rakesh Jhunjhunwala Portfolio in 2020". We Invest Smart. Retrieved 18 December 2020.
  3. ^ "RAKESH JHUNJHUNWALA BIO". Retrieved 9 November 2012.
  4. ^ "Rakesh Jhunjhunwala - Profile". Forbes. 2 July 2017. Retrieved 2 July 2017.
  5. ^ 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.
  6. ^ 28°37′40″N 77°14′32″E / 28.627815°N 77.242135°E / 28.627815; 77.242135
  7. ^ "Rakesh Jhunjhunwala Story". 4Remedy. 15 November 2017. Retrieved 8 May 2018.
  8. ^ Nihar, Gokhale (17 December 2011). "ET Bureau". The Economic Times. Retrieved 28 April 2012.
  9. ^ "Rakesh Jhunjhunwala Slaughters The Bears". Rakesh-jhunjhunwala.in. Retrieved 28 April 2012.
  10. ^ Modak, Samie (27 April 2012). "Rakesh Jhunjhunwala to trim companies in his portfolio". Business Standard. Retrieved 28 April 2012.
  11. ^ John, Satish (5 April 2012). "No takers for Rakesh Jhunjhunwala's stake in Aptech". The Economic Times. Retrieved 28 April 2012.
  12. ^ "Rakesh Jhunjhunwala buys shares worth Rs 26 crore in A2Z Maintenance and Engineering Services". Economic Times. 22 May 2012. Retrieved 5 June 2012.
  13. ^ "Business Standard Mobile Offers Who is Rakesh Jhunjhunwala, Rakesh Jhunjhunwala's net worth, Who is the biggest investor in India". wap.business-standard.com. Retrieved 6 July 2020.
  14. ^ Kumar, Raj (8 June 2020). "Rakesh Jhunjhunwala Portfolio in 2020". We Invest Smart. Retrieved 2 July 2020.
  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".

External links[edit]