Rakesh Jhunjhunwala generates a revenue of Rs 35 lakh per hour over an investment of Rs 8,100 crore. Rakesh Jhunjhunwala's Journey from 5000 to $5.5 billion. Big bull of Indian stock market.

Rakesh Jhunjhunwala's Journey from 5000 to $5.5 billion. Big bull of Indian stock market.

Posted By Thinking Boxx Team

August 14/2022 11:45 AM IST

Rakesh Jhunjhunwala began his career in the stock market with Rs 5,000 in 1985 and went on to become India's biggest stock market investor. He was the 36th richest man India, with a net worth of $5.5 billion (as of July 2022). He was known as the “Big Bull of India” and the “King of Bull Market” and was keenly followed by millions for market insights. Born in Mumbai on July 5, 1960 in a middle class family, his father worked as a tax officer. He obtained the degree of chartered accountancy from Sydenham College in 1985. A chartered accountant by profession, he chaired the Hungama Media, Aptech ad well as held the chairs of a board member in various Indian companies.Popularly known as India's Warren Buffet, he had a net worth of close to $5.8 billion, as stated by the Forbes. He also made it to the Forbes list of 2022.

 A billionaire investor, also called the Big Bull of Dalal Street, Rakesh Jhunjhunwala passed away at the age of 62. He was brought to Mumbai's Breach Candy Hospital at 6:45am today and later declared dead. He suffered from multiple ailments. Rakesh Jhunjhunwala held a 40 percent stake in Akasa Air. He also had taken aboard veterans from the aviation industry like Vinay Dune, the former Jet Airways CEO, as well as the former IndiGo president Aditya Ghosh for the functioning of the company.

 Jhunjhunwala successfully invested in Titan, CRISIL Sesa Goa, Nazara Technologies and Metro Brands, to name a few. While some of his bets were a big hit, he also had some misses like Dewan Housing Finance, Mandhana Retail and DB Realty. Last year in July, he topped the new entrant's list of ‘Edelgive Hurun India Philanthropy 2021 list', with an annual donation of Rs 50 crore.

He got interested in the stock market after listening to his father's conversations with his friends, discussing the market. While his father Radheshyam Jhunjhunwala guided him, he never gave him financial aid. He borrowed money from his brother's clients with a promise to return the capital with returns higher than those offered by bank fixed deposits. He earned his first big hit in 1986 when he bought 5,000 shares of Tata Tea at Rs 43 which rose to Rs 143 within three months, earning him a profit.

 Not just the market, Jhunjhunwala was passionate about Bollywood as well. He financed films like the much-acclaimed ‘English Vinglish', Shamitabh', and ‘Ki & Ka'. He was the chairman of Hungama Digital Media Entertainment Pvt Ltd., which he started in 1999 as Hungama Digital Media with four partners.

 Jhunjhunwala also ran a privately-owned stock trading firm called RARE Enterprises. He recently co-launched Akasa Air, a low-fare airline based in India, which started its commercial operation on August 7. Jhunjhunwala forayed into the aviation industry that has suffered losses due to the COVID-19 pandemic. When questioned about his plan to start an airline at such a time, Jhunjhunwala replied, “I say I'm prepared for failure.” 

Share trading comes naturally to him. He made about Rs 2 to 2.5 million in trading the stocks of Vedanta. One of his most recognised stocks in his portfolio is Titan, the shares of which he purchased in 2002-03 at the rate of Rs 3 apiece. Today, they are selling at Rs 1,182 in the stock market while he generates a revenue of Rs 35 lakh per hour over an investment of Rs 8,100 crore.

Image Source 'CNBC'