Rakesh Jhunjhunwala, also known as the “Big Bull of India” was a great personality of india. He was a billionaire businessman, stock trader, and investor. According to India’s richest people as per their net worth published by the Forbes (2022), he was the 22th richest person in India with the net worth of $5.8 billion. Being one of the richest person, there are lots of inspiring and interesting facts about Mr. Jhunjhunwala. And all his journey from a simple child to becoming an unforgettable personality was started with just a curious mind and only $100(5000INR).
This introduction is just a tiny fraction of what Rakesh Jhunjhunwala had achieved. Now as a curious person, if you want to know how he achieved all his success and what are the things we could learn from him in order to grow in life. All you have to do is just read this full article with your pace. Vedaon is giving you the assurance that you will know almost everything about the big bull Rakesh Jhunjhunwala.
1) Early life of Rakesh Jhunjhunwala
Rakesh Jhunjhunwala was born on july 5, 1960 in Hyderabad, Andhra Pradesh, India; (Now in Telangana, India) and grew up in a middle class Rajasthani Marwari family, in Bombay. His mother Urmila Jhunjhunwala was a homemaker, like every mother she supported a lot Jhunjhunwala to his journey. His father Radheshyamji Jhunjhunwala was an income tax officer. His father was the doorway for Mr. Jhunjhunwala into the stock market. we will see this fact into the “Entry of Big Bull Rakesh Jhunjhunwala into the stock market” section.
2) Education of Rakesh jhunjhunwala
let’s see the education part of Rakesh Jhunjhunwala, As a child, he was kind of curious student. His schooling was done from a very normal school in mumbai. After his completion of high school, he did his B. Com from the Sydenham Collage of Commerce and Economics in 1985.
After graduation, he thought of becoming a Chartered Accountant (CA). So, he joined The Institute of Chartered Accountants of india and completed his CA studies here. And then he became a Chartered Accountant.
3) Entry of ” Big Bull ” Rakesh Jhunjhunwala into the stock market
As it is mentioned earlier in this blog that Jhunjhunwala’s father Mr. Radheshyamji Jhunjhunwala was the doorway for him to stock market. What’s the fact behind this? We all know that Jhunjhunwala’s father was an income tax officer. From a young age, Rakesh Jhunjhunwala was surrounded by the talks of money, taxes and stock markets at his home.
So, one day (when Jhunjhunwala was a college student), he listened the conversation between his father and their friends about Stock market. He found stock market very interesting, so he went to his father and asked about it and his father told some basics of stock market like what is stock market? How does it works? etc etc. At that time, Jhunjhunwala was not earning, so he asked his father to give him some money to invest in stock market but his father didn’t give him the money. Because he was very curious about stock market, he decided that in future he will build his career in the stock market. With his savings at hand, Rakesh started investing early when he was in college. He began his investment journey with ₹5,000 ($100) capital in 1985.
Because he was a beginner in stock market, he had faced lots of ups and downs. But he was a also a great learner. By learning and observing market, In 1986, Rakesh Jhunjhunwala brought 5000 shares of Tata Tea at Rs. 43 per piece. Within just three months, the stock rose to Rs. 143, and Jhunjhunwala made his first huge profit of ₹5 lakh ($6,300). After this profit he knew that he had the capability to go at any level in the stock market. Between 1986 and 1989, he earned almost ₹20–25 lakh profit. By the time he started playing with stock market and he became the “Big Bull of indian stock market”. As of 2021, his biggest investment was in Titan Company which is worth ₹7,294.8 crore. You will be very inspired by this fact that As per Forbes, the $5.8 billion net worth of jhunjhunwala is real-time as of August 14, 2022. He is currently ranked as the 438th billionaire on Forbes List 2022.
4) Personal life of Jhunjhunwala
Rakesh Jhunjhunwala’s personal life was also inspiring, in 1987, he married to Rekha Jhunjhunwala. Rekha Jhunjhunwala was also a stock market investor. Because they were in same field, in the bad times they both stand for each other. And together they grew in their life. In 2004, they got the most beautiful and precious gift in the form of their daughter Nishtha Jhunjhunwala. In an interview, Rakesh Jhunjhunwala expressed his love for his family. He had said:
“I don’t know how you describe a family man. But I can tell you one thing, nothing is more important to me than my children and there is no woman I can ever love in my life other than Rekha Jhunjhunwala (wife), come what may.”
In 2009, Rakesh Jhunjhunwala and his wife got another beautiful gift, they welcomed twin boys. Aryaman and Aryaveer Jhunjhunwala. Through this blog we all knew who was Rakesh Jhunjhunwala, so In return gift, he had organised a lavish party on the birth of his sons at the Hyatt in Mumbai.
5) Rakesh Jhunjhunwala’s Relationship with top companies
If I ask you what you know about Rakesh Jhunjhunwala then it is guaranteed that most of people said that he was a investor. Yes, this is the the fact that he was a investor but very less number of people knows the other aspect of Mr. Jhunjhunwala. Let’s see the other aspects of Rakesh Jhunjhunwala.
Besides being an active investor Jhunjhunwala was the chairman of Aptech Limited and Hungama Digital Media Entertainment Pvt. Ltd. He was also the board of director of Prime Focus Limited, Geojit Financial Services, Concord Biotech Limited, Bilcare Limited, Praj Industries Limited, Innovasynth Technologies (I) Limited, Provogue India Limited, Viceroy Hotels Limited, Mid Day Multimedia Limited, Nagarjuna Construction Company Limited, and Tops Security Limited. He was also a member of the Board of Advisors of India’s International Movement to Unite Nations (I.I.M.U.N).
6) Rakesh Jhunjhunwala’s Portfolio
Rakesh Jhunjhunwala managed his own portfolio as a partner in his asset management firm, Rare Enterprises.
Jewelery retailer Titan Co. was one of the largest and most profitable investments for the veteran trader Mr. Jhunjhunwala and his wife Rekha Jhunjhunwala, making up for more than a third of their portfolio, according to data compiled by Bloomberg.
Their other top holdings by market value include Star Health & Allied Insurance Co., footwear maker Metro Brands Ltd. and automaker Tata Motors Ltd. Jhunjhunwala held stakes of more than 10% in Star Health, IT firm Aptech Ltd. and videogame maker Nazara Technologies Ltd.
7) Controversy- Aptech insider trading case
Here we are not going to the matter In detail. Because it was a big matter, so we will share about this matter in another blog. For now let’s look at some major points of this case.
Rakesh Jhunjhunwala was investigated for insider trading. As of July 2021, the SEBI had settled the issue after a total payment of ₹35 crore from Jhunjhunwala and his associates. Jhunjhunwala paid ₹18.5 crore and his wife paid ₹3.2 crores.
8) Philanthropy of Jhunjhunwala
• Philanthropy of Jhunjhunwala
Rakesh Jhunjhunwala was a great personality not just because of how much money he earned but how down to earth he was. He always knew that money is just a fuel for the life not the life itself. He always believe in giving without any motive.
Jhunjhunwala whose net worth was $5.8 billion as of 2022, had plans to donate a quarter (25%) of his wealth to charity. His philanthropic portfolio included health care as well as education-related initiatives, supporting organizations such St Jude, Agastya International Foundation, Ashoka University, Friends of Tribals Society and Olympic Gold Quest. He was also active in efforts to construct an eye hospital in Navi Mumbai.
He was not just a billionaire, he was such a down to earth and humble person that once he said:
” I am not giving so much of my wealth that I should feel that I am a philanthropist “
—- Rakesh Jhunjhunwala
9) Rakesh Jhunjhunwala- Co-founder of Akasa Air
In 2021, he co-founded Akasa Air, a low-cost airline in India, with former Jet Airways CEO Vinay Dubey. The new airline has 2 aircraft, with additional order for 70 more aircraft, and as of August 2022, flies to 3 cities.
10) People’s who inspired Rakesh Jhunjhunwala most
Radheshyamji Jhunjhunwala– Jhunjhunwala’s father was always his inspiration. Since the childhood, he always learnt a lot from his father. Even his father was the first person who introduced Rakesh Jhunjhunwala to the stock market.
Tatas:- When it came to learning how to earn wealth and use it for the public good, he said he learnt it from the Tatas, who have built multiple hospitals and educational institutes with their wealth. In his last days of his life, Jhunjhunwala was busy with several philanthropic plans.
Winston Churchill:- He also admired former UK Prime Minister Winston Churchill for showing tenacity and guts during the Second World War.
George Soros:- For trading and investing, his role model was none other than celebrated hedge fund tycoon George Soros, known as the man who broke the Bank of England.
Radhakishan Damani:- For wisdom, he treated the reclusive Radhakishan Damani as his mentor. At a public event in 2020, Jhunjhunwala said he learnt a lot from Damani, including the latter’s conviction in India as a bull market, apart from lessons in investing and trading.“I can’t list down what I have learnt from him, I can list down what I have not learnt,” he had said.
Having all these inspiration, he never follow anyone blindly and this is one of the best quality of Mr. Jhunjhunwala to learn.
In a TV interview, when RJ was asked about his inspiration, he said that learning is a journey and not a destination. “I do not accept any guru. I did not accept any Swamiji. I learn by doing and experiencing.”
11) Rakesh Jhunjhunwala passed away– End of an Era
Unfortunately, On August 14, 2022, Rakesh Jhunjhunwala passed away at the age of 62 in Mumbai. He had a cardiac arrest, and doctors reported that he also suffered from kidney-related problems and acute multiple organ failure. The billionaire was declared dead at the Breach Candy Hospital in Mumbai.
Indian Prime Minister Narendra Modi shared his condolences on twitter.
Rakesh Jhunjhunwala could go from this world but he was such a great personality that he will always be in the hearts of indians.
5 unknown facts about the “Big Bull of indian stock market- Rakesh Jhunjhunwala”
- Rakesh Jhunjhunwala’s asset management firm Rare enterprises was named with the combination of first two letters of Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala.
2. Rakesh Jhunjhunwala did not like to call him indian Warren Buffett. In an interview he told this and said he would love if people will know him by Rakesh Jhunjhunwala.
3. Rakesh Jhunjhunwala was a great fan of indian bollywood movies and that’s why he produced some bollywood movies like English Vinglish, Shamitabh and Ki & Ka.
4. Jhunjhunwala was a foodie. He used to eat fast foods and Vada pav was his one of the favorite fast food, especially when it was made by his wife. He also loved to watch cooking shows.
5. Rakesh Jhunjhunwala’s massive 14-storey bungalow in Mumbai worth Rs 300cr+.
Team Vedaon is giving a tribute to the legendary Rakesh Jhunjhunwala through this blog.
Anyone in future from anywhere, want to know about Mr. Jhunjhunwala sir, this blog will always be there.
Thank you !