Who Is Rakesh Jhunjhunwala, How He Became Dalal Street Mogul

New Delhi: Billionaire stock investor Rakesh Jhunjhunwala known as “India’s Warren Buffett” passed away at age 62 in Mumbai on Sunday. Known as an with a Midas touch, Jhunjhunwala was not keeping well for the past few days and breathed his last due to multiple health issues, at Breach Candy Hospital in the city, according to various media reports. With a net worth of USD 5.5 Billion (as of July 2022), Jhunjhunwala was the 36th richest man in India. He is survived by his wife, Rekha Jhunjunwala, who is also a stock market investor and three children.Also Read – Who Was Rakesh Jhunjhunwala, The Big Bull Of Dalal Street Dubbed As ‘India’s Warren Buffet’ – 10 Points

Besides being an active investor, Jhunjhunwala was also the chairman of Aptech Limited and Hungama Digital Media Entertainment Pvt. Ltd. He also had a seat 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 Limited, Mid Day Multimedia Limited, Nagarjuna Construction Company Limited, Viceroy Hotels Limited, and Tops Security Limited. Also Read – Rakesh Jhunjhunwala Dies News LIVE Updates – PM Modi Mourns Demise, Says ‘He Was Full of Life, Witty’ | LIVE

Rakesh Jhunjhunwala: The Dalal street mogul Also Read – Rakesh Jhunjhunwala, Ace Investor And Akasa Air Founder Passes Away; Virender Sehwag Mourns Death, Calls Him Big Bull of Dalal Street | VIRAL TWEET

Born on July 5, 1960, Jhunjhunwala grew up in a Rajasthani family, in Bombay, where his father worked as a Commissioner of Income Tax. He started dabbling in stocks when he was in college. After graduating from Sydenham College in 1985, he enrolled at the Institute of Chartered Accountant of India to become a CA, but after attaining the degree, he plunged headlong into the Dalal street. He developed interest in the stock market after listening to his father discuss it with his friends.

A risk-taker right from the beginning, Jhunjhunwala invested Rs 5,000 as capital in 1985 and by September 2018, his capital had inflated to Rs 11,000 crore.

The ‘Big Bull’ of Dalal Street earned his first big profit in 1986 when he bought 5,000 shares of Tata Tea at Rs 43. The stock rose to Rs 143 within three months and he earned Rs 20-25 lakh, a three-times profit. .

Over the years, Jhunjhunwala successfully invested in some of the biggest stocks including – Titan, CRISIL, Sesa Goa, and Praj Industries.

His stock prices fell by 30% after the 2008 global recession, but he eventually recovered from the loss by 2012.

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