Rakesh Jhunjhunwala (born 5 July 1960) is an Indian billionaire, investor, trader, and chartered accountant. He manages his own portfolio as a partner in his asset management firm, Rare Enterprises.
He is the 48th richest person in India, with net worth of $2.3 billion (as of 26 July 2020).
Born: 5 July 1960 (age 60), Hyderabad, Andhra Pradesh (now in Telangana), India
Education: Chartered Accountant
- Sydenham College of Commerce and Economics, Mumbai
- The Institute of Chartered Accountants of India
Occupation: Owner of Rare Enterprises, investor , trader & film producer
Net Worth: US$2.3 billion (July 2020)
Spouse(s): Rekha Jhunjhunwala
Early Life of Rakesh Jhunjhunwala
Jhunjhunwala grew up in Mumbai, where his father worked as an income tax officer. He graduated from Sydenham College and thereafter enrolled at the Institute of Chartered Accountants of India.
Rakesh Jhunjhunwala Career
Jhunjhunwala is the chairman of Aptech Limited and Hungama Digital Media Entertainment Pvt. Ltd. and sits on the board of directors of
- Prime Focus Limited
- Geojit Financial Services
- Bilcare Limited
- Praj Industries Limited
- Provogue India Limited
- Concord Biotech Limited
- Innovasynth Technologies (I) Limited
- Mid Day Multimedia Limited
- Nagarjuna Construction Company Limited
- Viceroy Hotels Limited
- Tops Security Limited
He is popularly referred to as the "Warren Buffett of India" and the "King of Bull Market".
Jhunjhunwala's stocks fell by up to 30% in December 2011. He recovered his losses in February 2012. These ups and downs forced him to reduce his vulnerability by trimming his portfolio to one-third. His attempts to divest his Aptech stake had no takers.
Jhunjhunwala invested ₹26 Crores (US$3.4 Million) in A2Z Maintenance increasing his stake in the company by 3.57%, upping his stake in the company to 23.2%.
The first big profit of Rakesh Jhunjhunwala was Rs 0.5 million in 1986. In between 1986–89, he earned almost Rs 20-25 lakh profit.
As of 2020, his biggest investment is in Titan Company which is worth ₹4758 Crores (approx US$600 Million).
In popular culture
Like the Fake Steve blog, there is a popular parody blog called The Secret Journal of Rakesh Jhunjhunwala that humorously parodies the Investor's life. On 7 June 2012, the authors were revealed by The Economic Times to be two people. For the first year, Forbes columnist Mark Fidelman and for the remaining years, Author and Writer Aditya Magal.
Controversy of Rakesh Jhunjhunwala
There is an ongoing investigation against Rakesh Jhunjhunwala for insider trading as of 28 January 2020.
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