Rakesh Jhunjhunwala Net Worth: Indian millionaire Rakesh Jhunjhunwala started investing in 1985 with a capital of Rs. 5,000 and made his first significant profit in 1986. He was also a successful stock dealer. Jhunjhunwala had an estimated net worth of $5.8 billion and was the 438th richest person in the world at the time of his death.
Rakesh Jhunjhunwala created Akasa Air, served as chairman of several companies, and was an investor in addition to these roles. He was also known as the “Big Bull of India” or as Warren Buffett of India. Rakesh Jhunjhunwala was well renowned for his positive outlooks and stock market forecasts.
Check also: Garrett Adelstein Net Worth
Biography
On July 5, 1960, Rakesh Jhunjhunwala was born. He was born into a Rajasthani family and spent the majority of his early years in Mumbai. His last name suggests that his ancestors were born in Rajasthan’s Jhunjhunu area.
The father of Rakesh Jhunjhunwala worked as an income tax commissioner. After Sydenham College, where he received his degree, he enrolled in the Institute of Chartered Accounts of India.
Career
Since he first overheard his father discussing the stock market with his friends, Jhunjhunwala had developed an interest in it. Although he gave him advice regarding the stock market, his father never gave him any money to invest there. But Rakesh didn’t stop there; he soon began investing in the markets as he began his undergraduate career. He put his 5000 rupees in savings to work in 1985, and today he has a staggering 11,000 crores in profit.
Jhunjhunwala continued after that. He was also the chairman and proud owner of Hungama Digital Media Entertainment Pvt Ltd. and Aptech Limited. A few of the companies are Innovasynth Technologies (I) Limited, Viceroy Hotels Limited, Tops Security Limited, Concord Biotech Limited, Mid Day Multimedia Limited, Nagarjuna Construction Company Limited. He was also a director of Prime Focus Limited, Geojit Financial Services, Bilcare, Praj Industries, Provogue India, and Tops Security.
Rakesh Jhunjhunwala Net Worth
Rakesh Jhunjhunwala, a successful businessman, was known for his boardroom smarts and keen eye for profitable investment ideas. With a starting amount of Rs. 5,000, he began investing in 1985, and his first significant profit came in 1986.
At the time of his death, Rakesh Jhunkhunwala’s estimated net worth was $5.8 billion, making him the 438th richest person in the world.
Rakesh Jhunjhunwala was previously under investigation for insider trading. As of July 2021, Jhunjhunwala and his colleagues had paid a total of Rs. 35 crores to the Security Exchange Board of India (SEBI), which had resolved the matter. Rakesh Jhunjhunwala and his wife each contributed Rs. 18.5 crores at the time.
Rakesh Jhunjhunwala Wife – Rekha
In 1987, Rekha and Rakesh Jhunjhunwala were wed. On June 30, 2004, their daughter Nishtha was born. Aryaman and Aryaveer, their identical sons, were born on March 2nd, 2009.
Rekha Jhunjhunwala, the wife of Rakesh Jhunjhunwala, has equity in Metro Brands, Titan Company, and other significant companies. Rekha Jhunjhunwala’s top interests in terms of value were Metro Brands (3,310 crore), Titan Company (2,379 crore), and Star Health and Allied Insurance Company (1,264 crore), according to information provided by Ace Equity.
As of June 30, 2024, the late successful investor’s widow owned 14.43% of Metro Brands and 1.07% of Titan Company. In Star Health and Allied, Rekha Jhunjhunwala owned 3.10 percent of the company.
Rakesh Jhunjhunwala Death
Sudden cardiac arrest was the reason of Rakesh Jhunjhunwala’s demise. He was on continuous dialysis, had chronic renal disease, and was responding nicely. He had just had an angioplasty and had diabetes: Hospital Breach Candy’s Dr. Pratit Samdani
A week or so after the launch of his low-cost airline Akasa Air, Rakesh Jhunjhunwala went dead. Nishtha, a daughter, and Aryaman and Aryaveer, identical twin sons, make up Rekha and Rakesh Jhunjhunwala’s family of three.
