Rakesh Jhunjhunwala Death: Know All About The Big Bull Of Dalal Street (2024)
Popularly known as 'Big Bull of India' and the 'King of Bull Market' Rakesh Jhunjhunwala passed away on Sunday (August 14) at the age of 62. Jhunjhunwala was known as “India’s Warren Buffet." According to the information given by the sources, the investor was brought to the Candy Breach Hospital at 6:45 AM in the morning where the doctors declared him dead.
Jhunjhunwala reportedly had multiple health issues including kidney ailments. A few weeks ago, the investor had been discharged from the hospital, the sources said.
As soon as the news of Rakesh Jhunjhunwala's death surfaced online, condolences poured in. Prime Minister Narendra Modi also paid his heartfelt tribute.
"Rakesh Jhunjhunwala was indomitable. Full of life, witty and insightful, he leaves behind an indelible contribution to the financial world. He was also very passionate about India’s progress. His passing away is saddening. My condolences to his family and admirers. Om Shanti," PM Modi tweeted.
Who Was Rakesh Jhunjhunwala?
Rakesh Jhunjhunwala was one of the richest men in the country. He was both a trader as well as a chartered accountant. Apart from that, he was also the chairman of Hungama Media and Aptech, as well as a director of Viceroy Hotels, Concord Biotech, Provogue India, and Geojit Financial Services.
Early Life and about Jhunjhunwala's investing career
Born on July 5, 1960, Rakesh belonged to a middle-class family. Jhunjhunwala belonged from Rajasthan and completed his graduation from Sydenham College and thereafter enrolled at the Institute of Chartered Accountants of India. His father worked as a Commissioner of Income Tax.
Back in the year 1985, Jhunjhunwala first stepped into the stock market with Just Rs 5,000, and today his investment has grown to ₹11,000 crores. He had an estimated net worth of Rs 5.5 Billion (as of July 2022), which makes him the 36th richest man in India.
Rakesh Jhunjhunwala was among one 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, and Tops Security Limited.
Back in the year 1986, Jhunjhunwala made his biggest profit worth of Rs 5 Lakh when he bought Tata Tea shares. During 1986 and 1989, Rakesh earned a profit of Rs 20-25 Lakhs.
One of the biggest investments of Jhunjhunwala as of 2021 was in Titan Company which is worth Rs 7,294.8 crore.
Rakesh Jhunjhunwala as Co-founder of Akasa Air
Akasa Air is an Indian airline, and was Co-founded by Rakesh Jhunjhunwala and former Jet Airways CEO Vinay Dubey.
Currently, the airline consists of 2 aircraft with an additional order for 70 more aircraft. As of 9th August 2022, the aircraft flies to 3 cities.
Radhakishan Damani is a prosperous businessman and investor. The third-largest mega-retail chain in India, "DMart," is owned by Mumbai-based billionaire Radhakishan Damani. The current lord of "Dalal Street" is a modest Mumbai trader.
He was also a co-founder of Akasa Air. He was investigated for insider trading and settled with the Securities and Exchange Board of India (SEBI) in 2021. Jhunjhunwala was often referred to as the "Big Bull of India", and was widely known for his stock market predictions and bullish outlooks.
In this post, we are going to walk you through the journey of Rakesh Jhunjhunwala in the Indian stock market. How he made over Rs 40,000 Crores starting from just Rs 5,000.
Rakesh Jhunjhunwala net worth in rupees was Rs 4,80,99,69,00,000 when he passed away on 2022, August 22. Rakesh Jhunjhunwala achieved his breakthrough as an investor in the year 1986 with his first major profit.
Warren Buffett is widely considered to be the most successful investor in history. Not only is he one of the richest men in the world, but he also has had the financial ear of numerous presidents and world leaders. When Buffett talks, world markets move based on his words.
The Harshad Mehta scam of the early 1990s remains one of the most infamous episodes in Indian financial history. Known as the 'Big Bull,' Harshad Mehta was a stockbroker who orchestrated a scheme that rocked the country's financial markets, leaving a lasting impact on the nation's perception of its financial systems.
However, his resilience and investment acumen allowed him to recover, increasing his net worth to $67 million by age 47. In 1986, at age 56, Buffett's net worth had grown to the point where he became a billionaire.
From the two stocks, Rakesh bagged approximately ₹1,060.58 crore in just one day. According to Trendlyne data, as of today, Rakesh's net worth in Titan is around ₹9,542 crore, and in Star Health at around ₹5,359.1 crore. These two are top stocks in Jhunjhunwala's portfolio.
In conclusion, while it is possible to become a millionaire through forex trading, it is not a guaranteed path to wealth. Achieving such financial success requires a combination of education, skills, strategies, dedication, and effective risk management.
Nikhil Kamath, a school dropout, took up his first job at a call centre later and then began to trade stocks. Zerodha co-founders Nithin and Nikhil Kamath and Flipkart founders Sachin and Binny Bansal have emerged as India's youngest billionaires in this year's Forbes list.
Benjamin Graham was a well-known and recognized figure in the stock market industry. Many refer to Benjamin Graham as the ‘father of value investing,’ for he was the one who introduced the concept to the world.
1. Warren Buffett: Warren Buffett is the CEO and chairman of Berkshire Hathaway, and he is one of the Top 10 Richest Investors in the World. His success can be seen through his unique strategies and approaches to investing.
“The prime residential assets continue to be the mainstream investment avenue for ultra-wealthy individuals in the country. Indian ultra wealthy are gravitating towards ESG oriented strategies for investments in commercial real estate.
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Introduction: My name is Dean Jakubowski Ret, I am a enthusiastic, friendly, homely, handsome, zealous, brainy, elegant person who loves writing and wants to share my knowledge and understanding with you.
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