Entire Life Story of Rakesh Jhunjhunwala :The Warren Buffett of India
Who is he ?
Rakesh Jhunjhunwala is a famous and wealthy Indian Businessman, an Investor, Trader and owner of Rare enterprises.
Famous For
Rakesh Jhunjhunwala is also known as “Warren Buffett of India” is the most famous and respected investor of India
How rich is he ?
According to Forbes, today, he is the 53rd richest person in India.
Birth
Mr Rakesh Jhunjhunwala is born on 5 July 1960 in a very middle-class family in Mumbai
His Father
His father was an Income tax officer. He is fascinated with stock marketing since childhood
Education
He has completed his graduation from Sydenham College of Commerce and Economics, Mumbai.
His Father replied
Then, his father told him a few important things that still help him in his career. His father said to him:- ” Always do what you are interested in”.
His Father replied
- His father encouraged him and said, “Be fearless”.
How did he start
When Rakesh Jhunjhunwala started his career, he had only 5,000 rupees in the pocket.
How did he start
That time his brother, who was practising chartered accounting had a great client. That lady had a big capital and wanted significant returns.
A Small Start
That time, the bank used to give 10% returns in a deposit. Rakesh offered her to give 18% returns per year because of this Rakesh got 2,50,000 rupees from that lady.
A Small Start
That time, the bank used to give 10% returns in a deposit. Rakesh offered her to give 18% returns per year because of this Rakesh got 2,50,000 rupees from that lady.
A Small Start
He also took 5,00,000 rupees from one another person, and that’s how one by one he arranged his initial capital.
Return on the 1st investment
In the beginning period of his career, Rakesh earned 8 to 10 lakh rupees by trading.
Big Investment
In 1988, he bought Sesa Goa shares of 2.5 lakh at a price of 28 rupees and another 2.5 lakh shares in the cost of 35 rupees.
First Big Return
After six months, Sesa Goa price increased to 65 rupees. In 1989, the government of VP Singh
Proved him as a investor
Rakesh Jhunjhunwala proved him right as the day of budget Madhu Dhanwati announced great budget which was supportive for business.
A good day had already begun
Before this announcement, Rakesh Jhunjhunwala net worth was 2 Crores, and after five months of budget net worth increased to 40-50 Crores.
A good day had already begun
Before this announcement, Rakesh Jhunjhunwala net worth was 2 Crores, and after five months of budget net worth increased to 40-50 Crores.
Second Biggest profit
In 2002-2003, he purchased Titan Company (a big jewellery brand) shares in 4.5 rupees per share average price.
Second Biggest Investment
In 2002-2003, he purchased Titan Company (a big jewellery brand) shares in 4.5 rupees per share average price.
Second Biggest Return
Titan stock increased to 80 rupees then fell to rupees 30 after some time. Due to this, the value of Rakesh Jhunjhunwala portfolio deprived to over 300 crore
Rakesh Jhunjhunwala net worth
Rakesh Jhunjhunwala net worth is $ 2.3 billion means around 15000 Crore rupees. On his 60th birthday, 5 July 2020, he announced to donate 25% of his wealth.
Rakesh Jhunjhunwala Death
He was brought to the Candy Breach Hospital at 6:45 AM on 14 August 2022 and was declared dead.
How Rakesh Jhunjhunwala Made his 1st profit from 'Tea',