The Story of Billionaire Rakesh Jhunjhunwala: India’s Warren Buffett

    ‘Chaos is the key to growth, not order,’ said big bull Rakesh Jhunjhunwala. One may question what the “Warren Buffett of India” actually meant when he made this statement, but if one considers his net worth and the way his stock market earnings have fluctuated for more than 20 years, one will realize what he was getting at. Sadly, the man who offered numerous motivational sayings about stock purchases passed away on August 14, early Sunday morning, in Mumbai’s Breach Candy Hospital.

    Jhunjhunwala was the model of success in the stock market, and he lived up to his words! He is still one of the greatest investors in India even though he is no longer with us. His name has been added to the Forbes list of billionaires due to his stock portfolio’s worth. He disliked being told how successful he was.

    Who is Rakesh Jhunjhunwala?

    Jhunjhunwala had a Midas touch when investing. At 62, he passed away in Mumbai on August 14, 2022. He was a dealer and a chartered accountant. He was listed as the 36th richest person on Forbes’ Rich List.

    As a director, he served on the boards of companies such as Viceroy Hotels and Concord Biotech. Hungama Media and Aptech were both owned by him.

    Rakesh Jhunjhunwala Net Worth

    Mr. Jhunjhunwala is considered worth $5.80 billion, or roughly 44300 crores of Indian rupees. Over the past five years, Rakesh Jhunjhunwala’s net worth has increased by 21%. In addition to his commercial activities, Mr. Jhunjhunwala excels as a humanitarian and benefactor to the underprivileged. He donates a significant portion of his salary to numerous charitable causes. Let’s take a speculative look at Mr. Rakesh Jhunjhunwala’s riches, which can also serve as a rough estimate of his net worth.

    How much did Rakesh Jhunjhunwala Invest in each Company?

    Jhunjhunwala made the most significant investment in Titan Company, totaling Rs 11,086.94 crore; second was Star Health and Allied Insurance Company, at Rs 7,017.51 crore; third went to Metro Brands, at Rs 3,348.81 crore; fourth to Tata Motors, at Rs 1,731.12 crore; and fourth to Crisil, at Rs 1,301.86 crore.

    In addition, he also invested Rs. 898.91 crores in Fortis Healthcare, Rs. 838.99 crores in Federal Bank, and Rs. 822.48 crores in Canara Bank, Indian Hotels Company Ltd., worth Rs. 816.31 crores, and NCC, worth Rs. 505.25 crores.

    The seasoned investor made his first profit in 1986 after purchasing Tata Tea shares for Rs 43 and seeing the price rise to Rs 143 within three months. At that time, the Sensex was 150 points. Titan, an Indian company under the Tata group, is his largest holding.

    With the launch of Akasa Air, the big bull made a big impression on the airline industry. Rakesh Jhunjhunwala’s personal life is the most frequently discussed subject among his followers. In 1987, one year after dabbling in the stock market, he wed Rekha Jhumjhunwala. As well as investing in stocks, she also owns real estate. Rakesh Jhunjhunwala and Rekha Jhunjhunwala combined their first two letters to form the company “Rare Enterprise.”

    Last Thoughts

    Rakesh Jhunjhunwala passed away in August, and India Inc. and the markets are mourning his passing. The Prime Minister has also sent a condolence message to the investor’s family.

    Also Read: Faasos Success Story: A Rising Indian Cloud Kitchen Company

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    Josie Patra
    Josie Patra is a veteran writer with 21 years of experience. She comes with multiple degrees in literature, computer applications, multimedia design, and management. She delves into a plethora of niches and offers expert guidance on finances, stock market, budgeting, marketing strategies, and such other domains. Josie has also authored books on management, productivity, and digital marketing strategies.

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