Success Story of Rakesh Jhunjhunwala - Big bull of India Stock Market

Written By PracticeGuru dated: 8th October, 2021

3 Min Read

Rakesh jhunjhunwala is one of indias most famous chartered accountants. He is called India's own Warren Buffet. An investor, who can touch shares of any company and turn it into gold. As per Forbes' Rich List, Jhunjhunwala is the 48th richest man in India. He is the chairman of Hungama Media and Aptech and director of firms such as - Viceroy Hotels, Concord Biotech, Provogue India and Geojit Financial Services.

Excited to know how Rakesh Jhunjhunwala, a chartered accountant, reached so far in his life ?

Today in this first episode of series on Indias Famous CAs, we will tell you the fascinating story of Rakesh jhunjhunwala.

Please watch story till end as we will tell you some interesting facts about his portfolio and his net worth at the end of the video.

Jhunjhunwala was born on July 5, 1960. His family originally belongs to Jhunjhunu.He grew up in Mumbai, where his father was posted as an Income Tax Officer. After graduating from Sydenham College in 1985, he enrolled at the Institute of Chartered Accountant of India.

In 1985, Jhunjhunwala started with just Rs 5,000 as capital. By September 2018, that capital had turned into whopping Rs 11,000 crore.

Rakesh Jhunjhunwala developed interest in the stock market when he was in college. after attaining the degree of CA, he decided to fully focus on stock market.

Jhunjhunwala started liking the stock market after listening to his father discuss it with his friends.

Jhunjhunwala gives the credit to his father who had guided him to read newspapers regularly as it was the news that made the stock market fluctuate.

His father never gave him any funds to invest in the stock market, his father also asked him to not borrow money from friends.

But Jhunjhunwala was a risk-taker right from the start. He borrowed money from his brother’s clients and promised to return the capital with higher returns compared with bank fixed deposits.

Friends before we continue this inspiring story ahead, kindly subscribe to this channel as you will get notification when we release our next story in the series. The purpose of this series to inspire you to work hard and achieve greater heights like the heros in this series.

To continue, Rakesh earned his first big profit in 1986 when he bought 5,000 shares of Tata Tea at Rs 43 and the stock rose to Rs 143 within three months. He earned over three-times profit.

In three years he earned Rs. 20-25 lakhs . Over the years, Jhunjhunwala successfully invested in Titan, CRISIL, Sesa Goa, Praj Industries, Aurobindo Pharma and NCC.

But there was a big roadblock in his journey.

After the 2008 global recession, his stock prices fell by 30% but he eventually recovered from the loss by 2012. He had to fight it hard to achieve his glory back.

He married in 1987 to Rekha Jhunjunwala, who is also a stock market investor.

Jhunjhunwala runs a privately-owned stock trading firm called RARE Enterprises. One interesting thing to know is - This unique name was derived from the initials of his name rakesh and his wifes name Rekha.

He has invested in Aptech Limited, Ion Exchange, MCX, Fortis Healthcare, Lupin, VIP Industries, Geojit Financial Services, Rallis India, Jubilant Life Sciences, etc.

You will be astonished to know Jhunjhunwala is the 48th richest man in India.

He has an estimated net worth of $4.9 billion (as of September 2021).

Today his biggest investment is in Titan Company which is worth Rs 7,300 crores.

Friends, Rakesh also does lot of philanthropic work.

His philanthropic portfolio includes nutrition and education. Jhunjhunwala plans to give away 25 per cent of his wealth to charity. He contributes to St Jude, which runs shelters for cancer-affected children, Agastya International Foundation and Arpan, an entity that helps create awareness among children on sexual exploitation.

He also supports Ashoka University, Friends of Tribals Society and Olympic Gold Quest. He is in the process of building an eye hospital in Navi Mumbai, which will perform 15,000 eye surgeries free of cost. This is why we all from CA fraternity are proud of this fellow CA.

friends, rakesh gives credit for his success to his family circumstances and the support of his parents and his wife and his brother. He says they always let him do what he wanted in life.

As long as he was not risking anything which he had not made with his own hands and he was playing with his money, he thought it was fine to take risks in life and dream big.

So this is the story of Mr Rakesh. We hope you are thrilled to listen to it and motivated to do bigger things in life.

Kindly comment n tell us how did you like it. If you enjoyed it kindly like and share it and also subscribe to our channel. Thank you for listening, good bye and keep growing.

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