Rakesh Jhunjhunwala, popularly referred to as the India’s own Warren Buffett. In this story section, we are going to share you the entrepreneurial Journey of Rakesh Jhunjhunwala. How he made over Rs 34,387 crore starting from just Rs 5,000. Let’s get started.
Who is Rakesh Jhunjhunwala
“King of Bull Market” must have heard the name also know as the Warren Buffett of India. He is a chartered accountant and stocks trader also. He is the 48th richest man in the country according to Forbes’ Rich List.
He is the chairman of an Indian digital entertainment company named Hungama Digital Media Entertainment Pvt. Ltd and Aptech and sits on the board of directors of firms such as – Provogue India, Viceroy Hotels, Geojit Financial Services, and Concord Biotech. He has produced movies like ‘Shamitabh’, ‘English-Vinglish’, and ‘Ki and Ka’.
He Born in Mumbai, Maharashtra, India on 5 July 1960 in the middle class family. He grew up in Mumbai. His father was an Indian tax officer. He obtained his degree of chartered accountant from from Sydenham College in 1985.
Jhunjhunwala’s entrepreneurial Journey to become the Big Bull is an exciting journey. Let’s enjoy the inspirational success story of India’s own Warren Buffett, Rakesh Jhunjhunwala.
In 1985, Rakesh Jhunjhunwala started investing in the Indian stock market when he was in college and BSE Sensex was around 150 points. His father refused to give him money and forbade him to ask friends for investment.
Right from the start, Jhunjhunwala was a risk-taker. He borrowed some money from his brother’s clients. He promised him to return the money with handsome returns compared to bank fixed deposits.
In 1985, Jhunjhunwala started investing with a capital of 5000 in Tata Tea shares. He bought this stock at Rs 43.
He earned his first big profit of 20-25 lakh because the Tata Tea shares rose to Rs 143 within three months.
Over the years, Jhunjhunwala successfully invested in Aurobindo Pharma, Sesa Goa, Praj Industries, Titan, CRISIL, and NCC.
Rakesh Jhunjhunwala’s net worth
By 2018, that capital had inflated to Rs 11,000 crore. According to the latest updates on Forbes Magazine, Rakesh Jhunjhunwala’s net worth is currently around $4.6 billion i.e. Rs 34,387 crore.
Rakesh Jhunjhunwala got his first profit from Tata Tea in Indian stock market. In the year 1986, Jhunjhunwala made a profit of 5 lakhs. He bought 5000 shares of Tata tea. The stock reached 143 in just three months.
His investment increased more than 3 times. He considers himself as both a long-term investor and a trader.
Today’s The King of Bull Market Rakesh Jhunjhunwala used to be a bear in the days of Harshad Mehta. Jhunjhunwala earned a lot of money by selling shares after scam of Harshad Mehta Scam in 1992.
Rakesh Jhunjhunwala told In one interview that he earn a lot of money by short selling i.e. selling shares. He was part of a bear cartel.
One such Bear Cartel was led by Manu Manek, better known as Black Cobra, it includes Rakesh Jhunjhunwala and Radhakishan Damani (RK Damani) among others.
Mentioned in the Scam 1992 Web Series made on Harshad Shantilal Mehta. Journalist Sucheta Dalal broke the Harshad Mehta scam in 1992, after which the stock market crashed.
Rakesh Jhunjhunwala married Rekha Jhunjhunwala In 1987. She was also a stock market investor. He started “Rare Enterprises” his own stock trading firm in the year 2003, It was named after combining the names of his wife Rekha and himself.
Rakesh Jhunjhunwala’s Portfolio
for the quarter ended March 31, 2021. He and his associates have public holdings in 37 stocks. In this his amous stocks are Crisil, Tata Motors, Lupine, Titan Company, Federal Bank, DB Realty, Fortis Healthcare, Delta Corp, Nazara Technologies, and Tata Communications.
His net worth is Rs 19,695.3 crore. In this, his most valuable stocks are watch and jewelery maker Crisil (Rs 1,063.2 crore), Tata Motors (Rs 1,474.4 crore), Titan Company (Rs 7,879 crore).
Overall, the success story of Rakesh Jhunjhunwala’s is really inspiring for all investors. In the end, here’s an amazing quote by him:
“Markets are like women — always unpredictable, mysterious, commanding, and volatile..” – Rakesh Jhunjhunwala
That’s all for the story. Let us know, as an entrepreneur what do you think of Rakesh Jhunjhunwala’s success story.
We hope you find the inspiring story useful and inspiring through your entrepreneurial journey and will keep you inspired. Like this success story of this Indian entrepreneur or have something to share? Write to us:
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