Rakesh Jhunjhunwala
Rakesh Jhunjhunwala was born in Mumbai, Maharashtra, India on July 5th, 1960 and is the Business Executive. At the age of 63, Rakesh Jhunjhunwala biography, profession, age, height, weight, eye color, hair color, build, measurements, education, career, dating/affair, family, news updates, and networth are available.
At 63 years old, Rakesh Jhunjhunwala has this physical status:
Rakesh Jhunwala (born 5 July 1960) is an Indian Billionaire Investor and Trader.
He is a chartered accountant.
He manages his own portfolio as a partner in his wealth management company, Rare Enterprises, dubbed "the new bull run's pin-up boy" by India Today magazine and "Pied Piper of Indian bourses" by the Economic Times as the country's richest person, with net worth of USD 3 billion as the 48th richest individual (as of 1 oct 2019).
Early life and education
Jhunjhunwala was born in 1960 and grew up in Mumbai's Rajasthani Marwari family. Radhesh Jhunwala's father served as a Commissioner of Income Tax. According to his surname, his ancestors were from Jhunjhunu, Rajasthan. He graduated from Sydenham College and then joined the Institute of Chartered Accountants of India.
Personal life
On February 22, 1987, Rakesh Jhunwala married Rekha Jhunjhunwala. The couple had three children together. Nishtha, their daughter, was born on June 30th, 2004. Aryaman and Aryaveer, the couple's twin brothers, were born on March 2nd, 2009.
Career
Jhunjhunwala's interest in stock markets arose when he observed his father discussing the markets with his friends. While his father guided him on the markets, he never gave him money to invest and forbade him from asking friends for money. With his savings at hand, Rakesh started investing early when in college. Beginning with ₹5,000 capital in 1985, Jhunjhunwala's first big profit came in the form of ₹5 lakh in 1986. Between 1986 and 1989, he earned almost ₹20–25 lakh profit. By 2022, his investment had grown to ₹11,000 crores. As of 2021, his biggest investment was in Titan Company which is worth ₹7,294.8 crore.
He managed his own portfolio as a partner in his asset management firm, Rare Enterprises. Besides being an active investor, Jhunjhunwala was the chairman of Aptech Limited and Hungama Digital Media Entertainment Pvt. Ltd. and sat on the board 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.|date=June 2021}} He was also a member of the Board of Advisors of India's International Movement to Unite Nations (I.I.M.U.N.).
In 2013, Jhunjhunwala bought 6 of the 12 units of Ridgeway apartments at Malabar Hill from Standard Chartered bank for ₹176 crore. Later in 2017, he bought the other 6 apartments in the building from HSBC for ₹195 crore. In 2021, he commenced the construction of his new 70,000 square feet 13-storey home after the demolition of the old building.
In July 2021, he invested in Akasa Air, a low-cost airline in India, investing 400 million dollars for a 40% stake in the airline. As of September 2022, the new airline has 7 aircraft, with additional order for 65 more aircraft, and flies to 6 cities. Before his death Rakesh had increased his stake in the airline to 46% becoming the largest stakeholder in the company.