Known as the Big Bull or the King of Dalal Street, Jhunjhunwala has given a lot to the financial market of India. He was a person whom many people look up to or want to become just like him, a billionaire. However, many people have no idea about when and where he was born and brought up or how he started his journey in the stock market. We will cover all these aspects in this article. Let us know more about him.
Biography of Rakesh Jhunjhunwala
Rakesh Radheshaym Jhunjhunwala, popularly known as Rakesh Jhunjhunwala, the Big Bull, King of Dalal Street, Indian Warren Buffett, was born in Hyderabad in Telangana. However, his hometown was Mumbai and lived there till his death. He was born in Marwari family and practiced Hinduism. His zodiac sign was Cancer and was married till the time of his death. He had an Indian nationality and was one of the richest people in the country. He was an investor, chartered accountant and businessman by profession. Jhunjhunwala died of heart attack on August 14, 2022 at Breach Candy Hospital in Mumbai.
| Name | Rakesh Radheyshyam Jhunjhunwala |
| Known As | Rakesh Jhunjhunwala, The Big Bull, The King of Dalal Street, Indian Warren Buffett |
| Age | 62 years (At the time of death) |
| Birthday | 5 July 1960 |
| Birthplace | Hyderabad, Telangana |
| Hometown | Mumbai |
| Date of Death | 14 August 2022 |
| Place of Death | Breach Candy Hospital, Mumbai |
| Death Cause | Heart attack |
| Nationality | Indian |
| Religion | Hinduism |
| Ethnicity | Marwari |
| Zodiac | Cancer |
| Profession | Investor, Businessman, CA |
| Marital Status | Married |
Rakesh Jhunjhunwala’s Age
Born on July 5 in 1960, in Hyderabad, in Telangana of India, he was 62 years at the time of his death, in 2022.
Physical Appearance
Jhunjhunwala had an appearance like an ordinary Indian businessman, with a heavy build, height of 5 ft 8 inches, eye color black and grayish hair. The nickname the Big Bull suited him well professionally as well as his appearance wise.
Early Life
As his surname indicates, his ancestors were in Jhunjhunu, Rajasthan and hence he was Jhunjhunwala. He was borned in the Marwari family to Radheshyamji Jhunjhunwala and Urmila Jhunjhunwala. He developed an interest in stocks due to his father who was an Income Tax Officer, and had interest in stocks. His father used to discuss stocks with his friends in evenings on regular bases and this was picked by Jhunjhunwala. He asked his father about stocks and learned the basics from him. He wanted to start investing in shares early but his father told him to finish his graduation. Later when he completed his graduation, he asked his father to invest in stocks, however his father told him to use his own money and not to ask anyone to lend him.
Rakesh Jhunjhunwala Education
Always wanting to take the financial road, Juhnjhunwala completed his primary education in Mumbai and then did B.Com from Sydenham College of Commerce and Economics in 1985. He then took admission in the Institute of Chartered Accountants of India in New Delhi and became a certified CA.
Professional Career Rakesh Jhunjhunwala
Jhunjhunwala invested in his first stock with his savings as he was not supposed to ask for money from his friends or family. His first investment was of Rs. 5000 in 1985, Sensex was at 150 points at that time. Rakesh’s brother was also a CA and introduced him to his first ever client, Mr. Mendonca who gave him Rs.1,50,000 and trusted Jhunjhunwala with Rs 10 lakh. He convinced both of them a return of 18% as opposed to 8% the banks were giving them.
His first huge profit was in 1986, he invested in Tata Tea at Rs. 43 which increased to Rs.143 making Rs.5 lakhs which was 300% profit. He had also invested in Sesa Goa where he bought shares at Rs. 28 but timely realized the fall in prices of iron ore. Therefore, he sold them at Rs. 65. In his initial years of trading, 1986-1989, he made Rs. 25 lakhs profit. His biggest investment till date was in the shares of Titan Ltd. He invested in Rs5/share which increased to Rs. 1500 in 2020. The shares of Titan were worth Rs 7294.8 crores. Also, he also bought shares of Lupin Ltd. at Rs. 150. In 2020 the price was at Rs. 975. All these investments made him one of richest men in India and the World. He was named The King of Dalal Street with all his trading and investing techniques.
It wasn’t always a smooth ride as Rakesh faced some difficulties during the 2008 recession when his stock fell 30%. But being someone who learns from his mistakes he recovered all the losses in early 2012.
He also co owned a asset management company Rare Enterprises with his wife Rekha Jhunjhunwla, they named the company very creatively, it is derived from ‘Ra’ of Rakesh and and ‘Re’ of Rekha making it RARE. Furthermore, he was the chairman of Aptech, a vocational training services provider in Mumbai.
He was also an avid movie enthusiast and was also the chairman of Hungama Digital Media Entertainment which gave him a chance to produce movies like ‘English Vinglish’ in 2012, ‘Shamitabh’ in 2015 and ‘Ki&Ka’ in 2016.
He was in headlines in 2017 for earning Rs, 875 crores in one day due to increase in Titan’s share price.
He was also a part of board of Directors of companies such as Bilcare Limited,Prime Focus Limited,Innovasynth Technologies (I) Limited, Geojit Financial Services, Praj Industries, Provogue, Concord Biotech, Viceroy Hotels, Mid Day Multimedia Limited, Nagarjuna Construction Company, and Tops Security Limited. Along with this he was a member of the Board of Advisors of India’s International Movement to Unite Nations (I.I.M.U.N.)
In 2022, Akasa Air is a low-cost airline, which Jhunjhunwala co owns and was a major investor, got permission to start commercial flights. As of 2024, Rakesh Jhunjhunwala airline has 24 aircrafts and flies to 19 cities in India. This was his last venture before his death.
In 2020, Jhunjhunwala faced an investigation for insider trading by SEBI. This investigation happened because SEBI noticed some unusual dealings in Aptech shares. The matter settled after Rakesh and his associates paid Rs. 35 crores to SEBI, including his wife.
Rakesh Jhunjhunwala Portfolio
Jhunjhunwala managed his own financial portfolio as a partner in Rare Enterprises. As per his latest corporate shareholdings filed, Rakesh’ portfolio holds 27 stocks with net worth of Rs. 45,841 crores. His portfolio diversification tells the following information:
As per the sector analysis, Jhunjhunwala owned shares as per
| Sector | Investment percentage |
|---|---|
| Automobile | 38.40% |
| Banks | 10.74% |
| Capital Goods-Non Electrical Equipment | 9.70% |
| Chemicals | 5.42% |
| Computer Education | 4.46% |
| Construction | 3.99% |
| Jewellery(Diamonds and Gems included) | 3.93% |
| Credit Rating Agencies | 3.05% |
| Engineering | 2.51% |
| FMCG | 2.45% |
| Hotels and Restaurants | 2.38% |
| Healthcare | 1.95% |
| Insurance | 1.65% |
| Leather | 1.51% |
| IT sector | 1.43% |
| Miscellaneous | 1.34% |
| Others | 1.07% |
| Realty | 1.51% |
| Pharmaceutical | 0.69% |
| Steel | 0.64% |
| Stock/Commodity Brokers | 0.62% |
| Telecomm-service | 0.32% |
As the industry analysis, stats are as follows:
| Industry | Percentage |
|---|---|
| Diamond cutting or Jewellery | 38.40% |
| Leather or Synthetic Footwear | 10.74% |
| Automobiles(LCVs or HCVs) | 9.70% |
| Construction(Civil) | 5.42% |
| Hotels | 4.46% |
| Banks (Private sector) | 4.17% |
| Miscellaneous | 3.99% |
| Hospitals and Medical services | 3.93% |
| Telecommunications as service provider | 3.30% |
| Banks(Public sector) | 3.05% |
| General insurance | 2.45% |
| Indian Pharmaceuticals (Bulk Drugs) | 2.38% |
| Engineering(Turnkey services) | 1.51% |
| Automobiles (Tractors) | 1.43% |
| Construction of factories/offices/commercial buildings | 1.07% |
| Chemicals | 0.78% |
| Computers in Education field | 0.69% |
| Indian Pharmaceuticals in Bulk Drugs and FormIn M/S | 0.64% |
| Securities/Commodities Trading services | 0.62% |
| Food processing and others | 0.33% |
| Miscellaneous Medium/small | 0.32% |
| Refractories or Intermediates | 0.31% |
| Trading(medium or small) | 0.23% |
| Engineering(medium or small) | 0.09% |
Awards and Accolades
Jhunjhunwala received the Padma Shri from the Government of India for his contributions in trade and industry, posthumously, in March 2023. His wife Rekha Jhunjhunwala received the award from President Droupadi Murmu.
Philanthropic Activities
Jhunjhunwala always wanted to give back to the community. In an interview with Economic Times, he stated that God is the Ultimate giver and wants to use his wealth for social purposes. He also said that he would like to give at least Rs 500 crores to charity. His philanthropic portfolio had numerous organizations under it, such as St. Jude India ChildCare Centres, Agastya International Foundation, Ashoka University, Olympic Gold Quest and Friends of Tribals Society. He was also a part of construction for R J Sankara eye hospital in New Panvel.
Family
Born in a Marwari family. Rakesh’s father was Radheshyamji Jhunjhunwala and Urmila Jhunjhunwala. His father was an Income Tax Officer and his mother was a homemaker. He had three siblings. His elder brother, Rajesh Jhunjhunwala, was a Chartered Accountant and helped Rakesh to get his first clients through his connections. He has two sisters, his elder sister is Sudha Gupta and younger sister is Neena Sanganeria.
Relationships
Rakesh Jhunjhunwala wife is Rekha Jhunjhunwala. She was a Stock Market investor at the time of their marriage. They got married on February 22, 1987. Rakesh and Rekha had three children, a daughter and two sons. Their daughter was born on June 30, 2004 and was named Nishitha. On March 2, 2009, the couple was blessed with twin boys, Aryaman and Aryaveer. Till the time of his death, Jhunjhunwala resided in Malabar Hills, Mumbai.
Rakesh Jhunjhunwala Death
After falling terribly ill, Jhunjhunwala was admitted to the Breach Candy Hospital, Mumbai where he took his last last breath at approximately 6:30 am on August 12, 2022. It was reported that he died due to a heart attack. He additionally had kidney problems. PM Modi expressed his grief and condolences and stated that this loss is not only of the family members but of all the financial world.
Rakesh Jhunjhunwala Net Worth
Being named the 54th richest Indian in 2020, Rakesh Jhunjhunwala net worth was 5.8 million US dollars at the time of his death in 2022. His assets include a number of shares he owned, his companies Rare Enterprises and Akasa Airlines, which he co owned. This also includes his earnings as a chairman and board of directors of various companies including Apex and Hungama Entertainment. He also has a 4500 sq ft duplex in Malabar Hills,Mumbai which he bought for Rs. 25.25 crores. Along with this, he has a holiday home in Lonavala. He also possessed a Mercedes Benz S-class. Rakesh Jhunjhunwala per day has crossed 1060.58 crores at one time.
Social Media of Rakesh
There is no official social media account of Rakesh but many fan pages are present on various social media websites.
Unknown Facts About Rakesh Jhunjhunwala
- He was the 54th richest Indian in 2020.
- His hobbies include reading and watching food shows.
- His favorite food was dosa.
- Being a film fanatic, his favorite actors were Amitabh Bachchan, Amir Khan, actress Waheeda Rehman and filmmaker Guru Dutt.
- Kavin Dave portrayed Jhunjhunwala in web series Scam 1992: The Harshad Mehta Story.
- He considered Radhakishan Damani his business guru.
- Aditya Mangal wrote a satire blog on Rakesh titled Secret Journal of Rakesh Jhunjhunwala. This led to writing the parody fictional “How to become a billionaire by selling Nothing” in 2014.
- He always said people should accept and learn from their mistakes, adding that it is one of the reasons for his success.
Summary
As we can see why Jhunjhunwala was called the Big Bull of the financial market in India. From being interested in stocks as a kid to becoming one of the richest men in the country, he has given a lot of life lessons to people, especially people interested in the share market. Though his demise caused a lot of disturbance and sadness, his life lessons will always inspire people.
Frequently Asked Questions
Ans: Jhunjhunwala was an investor, chartered accountant, stock trader and businessman based in India. He was a billionaire and was an expert in the stock market. He was on the list of richest people in India.
Ans: Jhunjhunwala died on August 14, 2022 due to heart attack at Breach Candy Hospital in Mumbai. He was 62 years old at that time.
Ans: His net worth in Indian rupees is around Rs. 500 crores.
Ans: Rakesh married to Rekha, a stock investor, in 1987.
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