5 July 1960 |
|Alma mater||Bombay University, The Institute of Chartered Accountants of India (ICAI)|
|Occupation||Owner of rare enterprises, investor & trader|
|Net worth||USD 1.90 billion (Sep.2014)|
Rakesh Jhunjhunwala (born 5 July 1960) is an Indian Investor and Trader. He is a qualified Chartered Accountant. He manages his own portfolio as a partner in his asset management firm, Rare Enterprises. Jhunjhunwala has been described by India Today magazine[which?] as the "pin-up boy of the current bull run" and by The Economic Times[which?] as "Pied Piper of Indian bourses".
Jhunjhunwala grew up in Mumbai, India where his father was posted as an Income Tax Officer. He graduated from Sydenham College and thereafter enrolled at the Institute of Chartered Accountants of India.
Jhunjhunwala is the chairman of Aptech Limited and Hungama Digital Media Entertainment Pvt. Ltd. and sits on the board of directors of various Indian companies such as Prime Focus Limited, Geojit BNP Paribas Financial Services Limited, 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.
Jhunjhunwala's stocks fell by up to 30% in December 2011. He recovered his losses in February 2012. These ups and downs forced himto reduce his vulnerability by trimming his portfolio to one-third. His attempts to divest his Aptech stake had no takers. In May 2012 he increased his stake in Aptech by 2.24% now holds 12.7%
In popular culture
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 . For the first year, Forbes columnist and American Mark Fidelman and for the remaining years, Author and Writer Aditya Magal from India.
Jhunjhunwala admits to having been a bear in the Harshad Mehta days and believes that investors should be like chameleons. He has said that the markets are temples of capitalism and believes that they are the ultimate arbiters.
||This biographical article needs additional citations for verification. (November 2011)|
- Jhunjhunwala topic page. Forbes.com. Retrieved October 2012.
- "RAKESH JHUNJHUNWALA BIO". Retrieved 9 November 2012.
- "Mr. Rakesh Jhunjhunwala – Chairman". Retrieved 9 November 2012.
- Nihar, Gokhale (17 December 2011). "ET Bureau". The Economic Times. Retrieved 28 April 2012.
- "Rakesh Jhunjhunwala Slaughters The Bears". Rakesh Jhunjhunwala Slaughters The Bears. Rakesh-jhunjhunwala.in. Retrieved 28 April 2012.
- Modak, Samie (27 April 2012). "Rakesh Jhunjhunwala to trim companies in his portfolio". Business Standard. Retrieved 28 April 2012.
- John, Satish (5 April 2012). "No takers for Rakesh Jhunjhunwala's stake in Aptech". The Economic Times. Retrieved 28 April 2012.
- "Rakesh Jhunjhunwala buys shares worth Rs 26 crore in A2Z Maintenance and Engineering Services". Economic Times. 22 May 2012. Retrieved 5 June 2012.
- Fidelman, Mark. "Mark Fidelman -Socialized and Mobilized – Forbes". Blogs.forbes.com one by one. Retrieved 17 November 2012.
- "World's Famous Investors" (PDF). Retrieved 9 November 2012.