The interesting life of Rakesh Jhunjhunwala: India’s Warren Buffett
Rakesh Jhunjhunwala is a name that needs no introduction in the investment world. He is often referred to as India’s Warren Buffett and for good reason. He has achieved amazing success in his life, despite starting with nothing. This post will tell you all about Rakesh Jhunjhunwala’s biography, from his early life and career to his investment style and net worth. We will also discuss some of the controversies that have surrounded him over the years. So, without further ado, let’s get started!
Biography
Rakesh Jhunjhunwala was born on 5 July 1960 in Hyderabad, Andhra Pradesh, India. He is an Indian investor and trader. He is a qualified Chartered Accountant. Rakesh Jhunjhunwala started his career as a CA with outstanding success but soon realized that his real passion was stock market trading.
His first big break came in 1985 when he earned Rs.50 lakhs by accurately predicting the falling index of BSE Sensex. Since then, there has been no looking back for him and he has gone on to become one of the most successful investors in India. As of March 2021, his net worth was estimated to be US$5.5 billion by Forbes.
Many people refer to Rakesh Jhunjhunwala as the “Warren Buffett of India.” He follows a value investing philosophy and has often said that he aims to “buy fear and sell greed”.
Early Life and Career
Rakesh Jhunjhunwala was born in Hyderabad, India. Rakesh Jhunjhunwala did his schooling at Bombay Scottish School and then moved to Sydenham College, Mumbai for his Graduation in Commerce. He is also a Chartered Accountant by profession. After completing his CA, Rakesh started working with Heinz, an American Fast-Moving Consumer Goods company in 1984.
Soon, he started dabbling in shares and investments and made his first big profit by investing ₹5,000 in 1985 in Tata Tea shares which increased manifold to give him a profit of ₹3.14 lakhs within a year. Today, the value of his investment has grown manifold and is worth more than ₹11000 crore After that in 1985, he started his own venture Capital Fund called Rare Enterprises and invested ₹5 lakhs of his savings as the initial capital. Rakesh Jhunjhunwala has been nicknamed the ‘Warren Buffett of India’. He follows a value investing philosophy similar to that of Warren Buffett.
Rakesh Jhunjhunwala is famous for?
Rakesh Jhunjhunwala is famous for his impeccable business acumen and his rags-to-riches story. The son of a middle-class accountant, Rakesh started his career as a chartered accountant. However, he quickly developed a keen interest in the stock market and soon began investing his own money.
Rakesh’s big break came when he made a series of highly profitable investments in stocks that were undervalued at the time. These investments earned him the nickname “The Big Bull” and cemented his reputation as one of India’s most successful investors.
About Rakesh Jhunjhunwala Family
Rakesh Jhunjhunwala is a famous Indian investor and trader. He was born in a middle-class Marwari family.
- Father: Radheshyamji Jhunjhunwala was an income tax officer
- Mother: Urmila Jhunjhunwala was a housewife.
- Wife: Rekha Jhunjunwala, her profession is the stock market investor
- Elder Brother: Rajesh Kumar Jhunjhunwala -he is by profession Charted accountant and investor
- Children: Nishtha Jhunjhunwala, Aryaman Jhunjhulwala, Aryavir Jhunjhunwala
Rakesh Jhunjhunwala’s Investment Style and mantra?
Jhunjhunwala’s investment style is value-oriented, and he looks for companies that are trading at a discount to their intrinsic value. He has also said that he follows a “buy and hold” strategy, and doesn’t focus on short-term gains. In terms of sector allocation, Jhunjhunwala prefers consumer-focused businesses, as he believes that they are more resilient to economic downturns.
Rakesh Jhunjhunwala’s famous portfolio?
Rakesh Jhunjhunwala’s investment philosophy is heavily influenced by value investing and contrarian investing in the stock market. He has preferred a long-term investing approach and prefers to buy stocks when they are undervalued by the market. Jhunjhunwala’s portfolio is widely followed by Indian investors. As of March 2021, his most popular holdings include Star Health, Titan, Rallis India, Escorts, Canara Bank, and Indian Hotels Company.
Rakesh Jhunjhunwala: Net Worth?
The Indian investor and trader Rakesh Jhunjhunwala is worth a billion dollars. He leads the Mumbai-based investment firm Rare Enterprises as its chairman and managing director. As of March 2021, he had amassed a fortune worth an estimated $5.5 billion, making him one of the richest people in India.
Controversies?
Rakeshesh Jhunjhunwala, also known as the Rake, is an Indian billionaire investor and trader. Rakeshesh was also embroiled in a legal battle with the Securities and Exchange Board of India (SEBI) over alleged insider trading. Rakeshesh has denied any wrongdoing and the case is still pending. Rakeshesh’s name has also come up in connection with the Panama Papers leak. Rakeshesh has not been charged with any crime and denies any involvement in illegal activities. Despite these controversies, Rakeshesh remains one of the most successful investors in India.
Rakesh jhunjhunwala’s health problems
Jhunjhunwala was a patient of ischemic heart disease and had undergone angioplasty in 2022 to treat the same. Jhunjhunwala suffered a cardiac arrest on Saturday night and was rushed to Breach Candy Hospital, Mumbai, where he was declared dead on arrival.
Death
Rakesh Jhunjhunwala, one of the most prominent figures in the Indian stock market, died suddenly of cardiac arrest on 14 August 2022. He was 62 years old. Jhunjhunwala was best known for his contrarian investing style and his ability to generate high returns for his investors
Conclusion.
Rakesh Jhunjhunwala is one of the most successful investors in India. He has a net worth of over $5.5billion and is known as the “Warren Buffett of India.” Like Buffett, Jhunjhunwala is a value investor who looks for companies with good management, strong fundamentals, and low valuations. Over the years, he has made some brilliant investment calls and generated exceptional returns for his investors. If you’re interested in learning more about Jhunjhunwala’s life and investing style, we recommend reading his biography and his career in this blog, and What do you think about Jhunjhunwala’s approach to investing after reading his biography?
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