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Rakesh Jhunjhunwala passes away at 62; here`s a look at India`s Warren Buffett`s life
Rakesh Jhunjhunwala began his trading career with a mere Rs 5000 in his pockets in 1985 against his father`s wish.
Highlights
- Rakesh Jhunjhunwala was born on 5 July, 1960 in a middle-class Marwari family.
- He married to Rekha Jhunjhunwala on 22 February 1987 and had two daughters and one son with this marriage.
- Jhunjhunwala ran a privately-owned stock trading firm called RARE Enterprises.
New Delhi: Rakesh Jhunjhunwala, also known as Big Bull or Indian Warren Buffet, was a big name in Indian stock market world. He had amassed enormous wealth worhty over Rs 40000 crores through stock market investment from a humble beginning with Rs 5000 in 1985.
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Here are some glimpses of this great man life
Rakesh Jhunjhunwala was born on 5 July, 1960 in a middle-class Marwari family. His father was an Income tax officer.
He was a curious child who had a keen interest in stock markets since childhood. For that he asked his father regularly about stock market, like why do it fluctuate?
Jhunjhunwala enrolled at Institute of Charter Accountant of India. However, he left it after attaining the degree to pursue his passion in stock market. He went to Dalal Street in Mumbai.
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He finally started his career in stock market with Rs 5000 in the pockets. Though his father didn’t support him in this domain.
He got his first support from his brother’s client to whom he promised greater returns in exchange.
He married to Rekha Jhunjhunwala on 22 February 1987 and had two sons and one son with this marriage.
Rakesh Jhunjhunwala always remained optimistic regarding India's growth and development. And he played a big role in promoting equity culture in India.
Jhunjhunwala built his empire worth of Rs 40 crores and came in one of India’s richest men.
Madhu Dhanwate's budget in 1989, Finance minister in V.P Singh's government, became turning point in Rakesh Jhunjhunwala's life. The budget focused on promoting business and private sector. Rakesh's portfolio was Rs 2 crore during the budget, which increased to Rs 40-50 crores four-five months after it.
Jhunjhunwala ran a privately-owned stock trading firm called RARE Enterprises. He has invested in Titan, CRISIL, Aurobindo Pharma, Praj Industries, NCC, Aptech Limited, Ion Exchange, MCX, Fortis Healthcare etc.
He recently invested in a new airline company Akasa Air ltd, his first venture in this domain.