Share market is called the legal gambling of rich people. In fact, many of the world’s billionaires are in this market like Warren Bufet, Benjamin Graham and many more. Warren Bufet is considered as the most successful investor in history. But do you know about India’s Warren Bufet. Yes there was an Indian who was called India’s Warren Bufet who was none other than Rakesh Jhunjhunwala.
Today’s article is about the Big Bull of India– Rakesh Jhunjhunwala.
The “India’s Warren Bufet” or “Big Bull of India” was widely known for his stock market predictions and bullish outlooks. Rakesh Jhunjhunwala was a billionaire stock trader and investor. His estimated net worth at the time of his death was $ 5.8 Billion which made him the 438th richest person in the world. He was an active investor and also served as the chairperson and director of several companies. He founded the Akasa Air company.
Rise of the Big Bull of India
Rakesh Jhunjhunwala was the 438th richest person in the world but did you know he started trading with his savings of ₹5,000 and made billions. His Journey is an inspiring story.
Let’s read this inspiring journey
Born on 5 July 1960 in a Rajasthani Marwari family, in Mumbai. His father worked as the Commissioner of Income Tax. His interest in the stock market arose when he observed his father discussing the market with his friends. His father guided him in the market but never gave him money to invest and also prohibited him from borrowing money from his friends. His father wanted him to be a self-sufficient person and successful at the same time.
He graduated from Sydenham College and after that he was enrolled at the Institute of Chartered Accountants of India. While he was in college he started investing from the money of his savings. He began his journey with ₹5,000 capital in 1985 soon in 1986 his investment gave him a big profit of 5 Lakh Rupees.
As of 2022, his investment rose up to 11,000 Crore Rupees with his biggest investment in TItan Company which is worth 7,294 Crore Rupees. In 2021, he founded Akasa Air with the former CEO of Jet Airways, Vinay Dubey.
Rakesh Jhunjhunwala Death
Jhunjhunwala fell ill and was admitted in Bridge Candy Hospital, Mumbai, He suffered from Kidney-related problems and acute multiple organ failure and died at the age of 62. He donated his quarter of wealth in charitable organizations such as St Jude, Agastya International Foundation, Ashoka University, Friends if tribal Society and Olympic Gold Quest.
References from :- https://en.wikipedia.org/wiki/Rakesh_Jhunjhunwala