Are you a corporate tycoon, a stock trader, or a well-known investor? Rakesh Jhunjhunwala is in all the professions mentioned above and is known as India’s Warren Buffet.
Let us take a look at his journey:
His Childhood and Adolescence
Rakesh Jhunjhunwala was born on July 5, 1960. He was born into a Rajasthani family and grew up in Mumbai for most of his youth (formerly Bombay). His surname suggests that his forefathers were born in the Jhunjhunu area of Rajasthan.
Jhunjhunwala’s father worked for the Internal Revenue Service. He graduated from Sydenham College with a bachelor’s degree in accounting and went on to study at the Institute of Chartered Accountants of India.
He was captivated when he first saw his father discussing the financial market with his employees. Despite his father’s advice on the stock market, he never provided him with any investment money. On the other hand, Rakesh did not stop there and began investing in the markets as soon as he started college. In 1985, he invested his savings of 5000 rupees, and today he has a staggering return of INR 11,000 crores.
Jhunjhunwala’s journey does not end here. He is the proud owner and chairman of Aptech Limited and Hungama Digital Media Entertainment Pvt Ltd, both of which he founded.
Prime Focus Limited, Provogue India Limited, Geojit Financial Services, Bilcare Limited, Praj Industries Limited, Concord Biotech Limited, Prime Focus Limited, Prime Focus Limited, Prime Focus Limited, Prime Focus Limited, Prime Focus Limited, Prime Focus Limited, Prime Focus Limited, Prime Focus Limited, Prime Focus Limited, Innovasynth Technologies (I) Limited, Viceroy Hotels Limited, Mid Day Multimedia Limited, Nagarjuna Construction Company Limited, and Tops Security Limited are among the companies on which he serves on the board of directors.
In 1985, Jhunjhuwala made his first profit. It was only a 5 lakh profit (compared to today). Between 1985 and 1989, he profited over Rs. 25 lakh from his investments. Today, his most significant investment is in Titan Company, valued at over 7000 crore rupees.
He also owns shares in several private enterprises, including Star Health Insurance, Metro Bands, Concord Biotech, and others. Jhunjhuwala is also a member of India’s International Movement to United Nations and his commercial connections (IIMUN), including the Board of Advisors.
Investments and Net Worth
According to the Money Control website, his net worth is estimated to be above INR 29,644 crores, and he has 35 corporate holdings.
His most significant assets are in:
- Construction and Contracting – 11%
- 9% Miscellaneous
- Banks in the private sector account for 6% of the total.
- 6% of the budget is allocated to finance in general.
- Civil construction and contracting – 6%
- Pharmaceuticals account for 6% of the total.
- Banks in the public sector account for 3% of the total.
Jhunjhunwala is India’s 48th richest man, with a net worth of almost $3 billion. He gives to the St Jude Children’s Research Hospital, the Agastya International Foundation, and other charities. Arpan is an organisation that works to raise awareness about sexual exploitation among children. He also contributes to Ashoka University, the Friends of Tribals Society, and the Olympic Gold Quest.
Jhunjhunwala has also been involved in several issues and SEBI investigations. In addition, his name was implicated in an insider trading scheme. However, it has yet to be verified.