Rakesh Jhunjhunwala was born on 5 July 1960. He was an Indian billionaire businessman, chartered accountant, stock trader, and investor. He started investing in 1985 with a capital of Rs 5,000, with his first big profit in 1986.  He was the 438th richest person in the world with an estimated net worth of USD 5.8 billion.  He was a partner in his wealth management firm, Rare Enterprises.

Rakesh Jhunjhunwala didn't just rely on trading to make money. It was important to his first financial success, but he became wealthy by long-term investing the trading proceeds in high-quality equities. It's difficult to learn the "trade" tactics, but investing is simple. Patience and a long-term perspective are the guiding principles of investment. If one is constantly considering purchasing and selling various stocks, one cannot be a great investor. Don't ever invest in short-term.

 Rakesh JhunJhunwala


Born                                      -   5, July 1960, Hyderabad, 

                                                   Andhra Pradesh, India,                                                   

Died.                                    - 14 August 2022(aged 62)
                                                 Mumbai, Maharashtra 
                                                    India.

Education.                            - Chartered Accountant(C.A)

 Occupations                        - Businessman, Investor 

                                               Stock Trader                                                  

Spouse.                                    - Rekha jhunjhunwala 

                                                  Children- 3     

  Award.                                  - Padma Shri( 2023)                     

  Net worth.                                USD 5.8 billion(2022)        

Nick Name.                                Big Bull 


He was a director and chairperson for various firms in addition to being an active investor. Akasa Air was also founded by him. He was under investigation for insider trading, and in 2021, he reached a settlement with SEBI. Jhunjhunwala was hailed as the "Big Bull of India" and well-known for his positive outlooks and stock market forecasts.

  education and the early years   

     Radheshyam Jhunjhunwala, his father, was a commissioner of income taxes. His last name suggests that his ancestors were from Rajasthan's Jhunjhunu. After Sydenham College, where he received his degree, he enrolled in the Institute of Chartered Accountants of India. Additionally, he excelled in academics. 

Personal Life 

On February 22, 1987, Rakesh Jhunjhunwala wed Rekha Jhunjhunwala. Three kids were born to the couple. On June 30, 2004, their daughter Nishtha was born. Aryaman and Aryaveer, their identical sons, were born on March 2, 2009.

Career Life 

Rakesh Jhunjhunwala became interested in the stock market when he saw his father discussing the market with his friends. While his father guided him in the market, he did not give him money to invest and even forbade him from asking friends for money. With his savings in hand, Rakesh invests early while still in college. Starting with a capital of Rs 5,000 in 1985, Jhunjhunwala's first big profit came in 1986 at Rs 5 lakh. From 1986 to 1989, he made a profit of around 20-25 lakh rupees. By 2022, his investment had increased to Rs 11,000 crore. As of 2021, his largest investment was in Titan Company which is valued at Rs 7,294.8 crore.

The biggest turning point in Rakesh Jhunjhunwala's life came in 2002, 2003. When he bought 60 million shares of Titan Company at 3 rupees per share. After that the price of that share changed drastically to 390. Because of this, Rakesh Jhunjhunwala earned a profit of 2100 crores.

As a co-owner of Rare Enterprises, a wealth management company, he oversaw his personal portfolio. Jhunjhunwala was not only a savvy investor but also the chairman of Aptech and Hungama Digital Media Entertainment. He also owned stock in Prime Focus Limited, Geojit Financial Services, Billcare Limited, Praz Industries, Provog, Concorde Biotech, Innovasynth Technologies, Multimedia Limited, Construct Company Limited, Ltd., Ltd. Oy Hotels, and Top Security Limited. He also served on the International Movement of India in the UN's (I.I.M.U.N.) Advisory Board.

Jhunjhunwala paid Standard Chartered Bank 176 crore in 2013 to purchase six of the twelve units in the Ridgeway apartments at Malabar Hill. Later in 2017, he paid HSBC 195 crore to purchase the building's remaining 6 flats. After the old structure was demolished in 2021, he started building his new, 70,000 square foot, 13-story mansion.

He made a $400 million investment in July 2021 for a 40% stake in the Indian low-cost carrier Akasa Air. The new airline would fly to 16 cities as of July 2023 with a fleet of 19 aircraft. Rakesh had raised his ownership in the airline to 46% prior to his passing, making him the major shareholder.

Controversy

In 2021, Jhunjhunwala was investigated for insider trading for unusual transactions in shares of Aptech Computers. Sebi had alleged that Jhunjhunwala and others were in possession of unpublished price sensitive information (UPSI) and dealing in Aptech. In September 2016, Aptech announced its entry into the preschool segment. As per SEBI order, this UPSI was between 14 March 2016 and 7 September 2016, the date of official announcement. In July 2021, SEBI settled the case after a total payment of ₹ 35 crore was made by Jhunjhunwala and his associates. Jhunjhunwala paid 18.5 crores and his wife 3.2 crores.

Death

He passed away suddenly from a heart arrest on April 14, 2022, and he passed away in the breach candy hospital in Mumbai. He was receiving treatment in the hospital for a few days because, according to medical officials, he wasn't feeling well.