Rakesh Jhunjhunwala Net Worth 2022

Rakesh Jhunjhunwala Final Net Worth In 2022 At The Time Of His Death

Net Worth
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Indian business tycoon, investor, and stock trader Rakesh Jhunjhunwala Billionaire magnate. As a partner in his asset management company, Rare Enterprises, he was in charge of his own portfolio. Jhunjhunwala grew up in Bombay in a Rajasthani family. His father worked as an Income Tax Commissioner. His last name shows that his ancestors came from the area of Rajasthan called Jhunjhunu. After getting his degree from Sydenham College, he joined the Institute of Chartered Accountants of India. In 2022, he started Akasa Air, an Indian airline with low prices.

Rakesh Jhunjhunwala Career Details

Jhunjhunwala became fascinated with the financial market after hearing his father and his friends talk about it. His father taught him about the stock market, but he never gave him money to invest and told him not to ask his friends for money. Rakesh started investing while he was still in college, using the money he had saved. Starting with 5,000 in 1985, he has grown his investment to 11,000 crores today.

In addition to being an active investor, Jhunjhunwala was the chairman of Aptech Limited and Hungama Digital Media Entertainment Pvt. Ltd. He also served on the boards of directors of Prime Focus Limited, Geojit Financial Services, Bilcare Limited, Praj Industries Limited, Provogue India Limited, Concord Biotech Limited, Innovasynth Technologies (I) Limited, Mid Day Multimedia Limited, Nagarjuna Construction Company Limited, Viceroy Hotels Limited, and Tops Security Limited.

He was known as the “Big Bull of India” and the “King of Bull Market” because of his bullish stock market predictions and outlooks. In 1986, Rakesh Jhunjhunwala made his first big profit of 5 lakh rupees. Between 1986 and 1989, he made a profit of about 20–25 lakh.

As of 2021, Titan Company, his biggest investment, was worth 7,294.8 crores.

rakesh jhunjhunwala at Office
rakesh jhunjhunwala at Office

He was on India’s International Movement to Unite Nations’ Board of Advisors (I.I.M.U.N.).

Akasa Air is an Indian airline that was started by Rakesh Jhunjhunwala and Vinay Dubey, who used to be the CEO of Jet Airways. As of August 9, 2022, the airline has two planes and orders for another 70. It flies to three cities.

In 2013, Jhunjhunwala paid Rs 176 crore to Standard Chartered bank for 6 of Malabar Hill’s 12 Ridgeway apartments. Later in 2017, he paid Rs 195 crore to HSBC bank for the other six apartments in the building. After the old building was torn down in 2021, he began building his new 13-story, 70,000-square-foot home.

Controversy

Rakesh Jhunjhunwala was looked into for trading on inside information. As of July 2021, the SEBI and Jhunjhunwala and his partners have paid a total of 35 crores to settle the case. Jhunjhunwala paid 18 billion rupees, and his wife paid 3.2 billion rupees.

Rakesh Jhunjhunwala Net Worth

According to Forbes, Rakesh Jhunjhunwala, a maverick investor affectionately known as India’s Warren Buffet, has a net worth of $5.8 billion. His position on Forbes’ list of billionaires for 2022 was number 438. Jhunjhunwala began experimenting with the stock market during his undergraduate years, when the Bombay Stock Exchange (BSE) traded only 150 shares, compared to the over 60,000 it does now. In other words, Rakesh Jhunjhunwala’s efforts must be included in the narrative of India’s stock market.

Jhunjhunwala developed his renowned Midas touch by selecting stocks like Titan. According to Forbes, his early investments in the Star Health, Allied Insurance, and Metro brands paid off when both firms went public in 2021.

  • Let’s examine Rakesh Jhunjhunwala and his partners’ big stock holdings.

  • 23.37 percent in Aptech Ltd.
  • 17.49 per cent in Star Health and Allied Insurance Company Ltd.
  • 14.43 per cent in Metro Brands Ltd.
  • 12.62 per cent in NCC Ltd.
  • 10.03 per cent in Nazara Technologies Ltd.
  • 9.81 per cent in Rallis India Ltd.
  • 8.48 per cent in Bilcare Ltd.
  • 8.22 per cent in Agro Tech Foods Ltd.
  • 8.04 per cent in Va Tech Wabag Ltd.
  • 7.54 per cent in Geojit Financial Services Ltd.
  • 6.76 per cent in Jubilant Pharmova Ltd.
  • 5.48 per cent in Crisil Ltd.
  • 5.05 per cent in Titan Company Ltd.
  • 4.72 per cent in Jubilant Ingrevia Ltd.
  • 4.50 per cent in Autoline Industries Ltd.
  • 4.50 per cent in Karur Vyasa Bank Ltd.
  • 4.23 per cent in Fortis Healthcare Ltd.
  • 3.64 per cent in Federal Bank Ltd.
  • 3.39 per cent in Anant Raj Ltd.
  • 3.18 per cent in Dishman Carbogen Amcis Ltd.

The first flight of Rakesh Jhunjhunwala’s newest business, Akasa Air, took off on August 7.

Personal Life

rakesh jhunjhunwala family
Rakesh jhunjhunwala family

On February 22, 1987, Rakesh Jhunjhunwala wed Rekha Jhunjhunwala. Three kids were born to the couple. On June 30, 2004, their daughter Nishtha was born. Aryaman and Aryaveer, their identical boys, were born on March 2, 2009. Rakesh Jhunjhunwala, India’s Warren Buffet, died at 62.

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