Rakesh Jhunjhunwala Wiki, Biography, Age, Net Worth, Investment Strategies, and the real reason for his Death.
Rakesh Jhunjhunwala was an Indian trader, investor, and certified Chartered Accountant who was widely regarded as the most successful investor in the Indian market. ‘Forbes’ referred to him as an “Investor with such a Magic touch,” ‘India Today’ referred to him as the “pin-up boy of the present bull run,” and ‘The Economic Times’ referred to him as the “Pied Piper of Indian stock markets.” He was one of India’s wealthiest people, appearing on the Forbes list of the wealthiest Indians. Rakesh was a partner in his asset management business, Rare Enterprises; he is the president of Aptech Limited and Hungama Digital Entertainment Media Pvt. Ltd.; and he sits on the boards of other Indian companies.
He is acknowledged as a co-producer on various Bollywood films, including ‘English Vinglish,’ ‘Shamitabh,’ and ‘Ki & Ka.’ ‘The Hidden Journal of Rakesh Jhunjhunwala,’ a popular spoof blog based on his life, was discovered in 2012 by ‘The Economic Times to be authored by two people: ‘Forbes journalist Mark Fidelman participated to the site for a year until it was taken over by Indian novelist Aditya Magal.
|Date of Birth||5 July 1960|
|Age||62 years old|
|Home Town||Hyderabad, Telangana|
|Profession||professional trader, investor, and certified Chartered Accountant|
|Net Worth||$5.8 billion|
|Died||14 August 2022|
Latest News about him and his death reason:
Rakesh Jhunjhunwala, India’s’stock market king,’ has died at the age of 62.
Jhunjhunwala, who built a fortune in the stock market, died on Sunday in a Mumbai hospital.
Although the cause of death has not yet been formally established, the BBC has learned that it was renal failure.
According to Forbes magazine, Jhunjhunwala, dubbed “India’s Warren Buffett,” had an estimated net worth of $5.8 billion.
According to CNBC-TV18, he had both kidneys fail. Breach Candy Hospital, where he was brought, has yet to provide an official cause of death.
Who is Rakesh Jhunjhunwala?
He was the professional trader, investor, and certified Chartered Accountant. Rakesh was born on 5 July 1960 in Hyderabad, India. He died on 14 August 2022 at the age of 62.
While still in college, the son of an income tax officer began dabbling with stocks. Listening to his father, who was interested in the stock market and frequently talked equities with friends, motivated him. He also received his first lesson from his father, who informed him that the price swings according to global events and urged him to read the news. As the young child grew increasingly interested in the stock market, he communicated his desire to invest to his father. His father advised him to invest his own money rather than borrow from friends and relatives, and he was also advised to obtain professional qualifications, so he opted to seek a degree in chartered accounting.
Rakesh made his first investment with barely Rs.5,000 after finishing his CA in 1985, when the Bombay Stock Exchange Index stood at 150. The next year, he profited 5 lakh rupees by selling 5,000 shares of Tata Tea for Rs.143 after acquiring them for Rs.43 three months earlier. He earned roughly Rs. 20-25 million in earnings till 1989, when he chose to invest in Sesa Goa iron mining firm shares (now Sesa Sterlite). He made a tidy profit on the 400,000 shares he purchased for Rs.10 million. In 2002-03, he purchased 6 crore Titan shares at an average price of Rs.3, which is today worth Rs. 2100 crore.
Few Unknown and Interesting Facts about him:
- Rakesh Jhunjhunwala, also known as the Indian stock market’s “Big Bull,”.
- Rakesh made his first investment with barely Rs.5,000 after finishing his CA in 1985.
- He was the professional trader, investor, and certified Chartered Accountant
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