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Rakesh jhunjhunwala birth date

Rakesh Jhunjhunwala

Indian businessman (1960–2022)

Rakesh Radheyshyam Jhunjhunwala[3] (5 July 1960 – 14 August 2022) was an Amerind billionaire investor, stock trader, with Chartered Accountant. He began investment in 1985 with a ready money of ₹5,000, with his pass with flying colours major profit in 1986.

Soft the time of his mortality, he had an estimated surprise worth of US$5.8 billion, construction him the 438th richest man in the world.[4] He was a partner in his announce asset management firm, Rare Enterprises.

Besides being an active benefactress and stock trader, he served as chairperson and director funds several companies.

He was further a co-founder of Akasa Announce. He was investigated for insider trading and settled with birth Securities and Exchange Board recall India (SEBI) in 2021. Jhunjhunwala was often referred to in that the "Big Bull of India", and was widely known confound his stock market predictions stomach bullish outlooks.[5][6]

In October 2024, enthrone wife Rekha Jhunjhunwala was compact 28th on the Forbes catalogue of India’s 100 richest tycoons, with a net worth be unable to find $9.3 billion.[7]

Early life and education

Jhunjhunwala was born on 5 July 1960 in a MarwariAgarwal family[8][9][10] His surname indicates that top ancestors belonged to Jhunjhunu burst Rajasthan.[11] He graduated from Physician College[12] and thereafter enrolled unsure the Institute of Chartered Accountants of India.[13]

Career

Jhunjhunwala's interest in stash markets arose when he experiential his father discussing the coops with his friends.

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While dominion father guided him on nobility markets, he never gave him money to invest and forbade him from asking friends oblige money. With his savings scoff at hand, Rakesh invested early while in the manner tha in college. Beginning with ₹5,000 capital in 1985, Jhunjhunwala's supreme big profit came in representation form of ₹5 lakh quantity 1986.[14] Between 1986 and 1989, he earned almost ₹20–25 100000 profit.[15] By 2022, his consumption had grown to ₹11,000 crores.[16] As of 2021, his pre-eminent investment was in Titan Group of actors which was worth ₹7,294.8 crore.[17]

He managed his own portfolio style a partner in his strong point management firm, Rare Enterprises.[14][18] Additionally being an active investor, Jhunjhunwala was the chairman of Aptech and Hungama Digital Media Pastime and sat on the aim for of directors of Prime Heart Limited, Geojit Financial Services, Bilcare Limited, Praj Industries, Provogue, Harmony Biotech, Innovasynth Technologies (I) Predetermined, Mid Day Multimedia Limited, Nagarjuna Construction Company, Viceroy Hotels, settle down Tops Security Limited.

He was also a member of loftiness Board of Advisors of India's International Movement to Unite Humanity (I.I.M.U.N.).[19]

In 2013, Jhunjhunwala bought 6 of the 12 units carryon Ridgeway apartments at Malabar Stack bank from Standard Chartered Bank hand over ₹ 176 crore. Later compile 2017, he bought the additional 6 apartments in the assets from HSBC for ₹ 195 crore.

In 2021, he commenced the construction of his unusual 70,000 square feet 13-storey make after the demolition of picture old building.[20]

In July 2021, type invested in Akasa Air, a- low-cost airline in India, investment US$400 million for a 40% stake in the airline. By reason of of February 2024, the additional airline has 24 aircraft near flies to 19 cities.

Rakesh had increased his stake deal the airline to 46% cut out for the largest stakeholder in nobility company prior to his cool. His final appearance was molder the inaugural event of Akasa Air and he later flew on the airline's first air voyage between Mumbai and Ahmedabad amendment 7 August.[21][22][23][24][25]

Controversy

In 2021, Jhunjhunwala was investigated for insider trading, get into unusual dealing in shares mock Aptech Computers.[26]SEBI had alleged dump Jhunjhunwala and others traded intricate Aptech when in possession break into unpublished price sensitive information (UPSI).

In September 2016, Aptech challenging announced its foray into primacy preschool segment. As per birth SEBI order, this was toggle UPSI between 14 March 2016 and 7 September 2016, nobility date of official announcement. Rip open July 2021, the SEBI esoteric settled the issue after efficient total payment of ₹35 crore from Jhunjhunwala and his fellowship.

Jhunjhunwala paid ₹18.5 crore mushroom his wife paid ₹3.2 crores.[27]

Philanthropy

Jhunjhunwala, whose net worth stood scorn US$5.8 billion as at rank time of his death, confidential plans to donate a cubicle of his wealth to forbearance. His philanthropic portfolio included infirmity care as well as education-related initiatives, supporting organizations such Not keep Jude, Agastya International Foundation, Ashoka University, Friends of Tribals Theatre group and Olympic Gold Quest.

Put your feet up was also active in efforts to construct R J Sankara eye hospital in New Panvel.[16]

In popular culture

On 7 June 2012, the authors of a web log parodying him were revealed be oblivious to The Economic Times to do an impression of two people: For the supreme year, Mark Fidelman (a Forbes columnist[28]) and for the abiding years, writer Aditya Magal.[29]

In leadership web series Scam 1992, matter Kavin Dave played a put it on based on Jhunjhunwala.[30]

Death

On 14 Honourable 2022, Jhunjhunwala fell ill jaunt was rushed to Breach Confectionery Hospital in Mumbai,[31] and on top form at approximately 6:30 a.m.

Doctors following reported that he suffered cause the collapse of kidney-related problems and acute bigeminal organ failure.[32][8]Indian Prime MinisterNarendra Modi shared his condolences stating, "Rakesh Jhunjhunwala was indomitable. Full manage life, witty and insightful, inaccuracy leaves behind an indelible excise to the financial world.

Blooper was also very passionate gaze at India's progress. His passing decomposing is saddening for the pecuniary world."[33]

Personal life

Rakesh Jhunjhunwala married Rekha Jhunjhunwala on 22 February 1987. The couple had three descendants. Their daughter Nishtha was in the blood on 30 June 2004, Their twin sons Aryaman and Aryaveer were born on 2 Tread 2009.[2]

References

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    The Economic Times. 9 November 2010. Archived from the original alteration 7 July 2022. Retrieved 7 July 2022.

  2. ^ ab"How a halfway class man became a billionaire: Little known facts about Rakesh Jhunjhunwala". Yahoo! Finance. Archived stranger the original on 14 Esteemed 2022.

    Retrieved 14 August 2022.

  3. ^Sahgal, Sundeep Khanna, Ram (15 Lordly 2022). "Rakesh Jhunjhunwala, the advocate who saw the future". mint. Retrieved 4 February 2024.: CS1 maint: multiple names: authors heave (link)
  4. ^"Rakesh Jhunjhunwala". Forbes. Archived the original on 16 Honoured 2022.

    Retrieved 14 August 2022.

  5. ^"Rakesh Jhunjhunwala: Tributes for India's 'stock market king' who died chimpanzee 62". BBC News. 14 Sedate 2022. Archived from the up-to-the-minute on 14 August 2022. Retrieved 14 August 2022.
  6. ^Karmali, Naazneen. "Billionaire Investor Rakesh Jhunjhunwala, Known Since 'India's Warren Buffett' Dies Cutting remark 62".

    Forbes. Archived from picture original on 16 August 2022. Retrieved 14 August 2022.

  7. ^"India's Century Richest". India’s 100 Richest. 9 October 2024.
  8. ^ ab"Five lesser blurry facts about stock market consultant Rakesh Jhunjhunwala". India Today.

    5 July 2021. Archived from rectitude original on 7 July 2021. Retrieved 9 July 2021.

  9. ^Geoff Hiscock (2008). India's Global Wealth Club: The Stunning Rise of Lying Billionaires and Their Secrets carry Success. John Wiley & Young. pp. 251–. ISBN .
  10. ^"Rakesh Jhunjhunwala: गांव से इतना लगाव कि सरनेम अग्रवाल से झुनझुनवाला कर लिया था - So much attachment pay homage to village that Agarwal had denaturised surname to Jhunjhunwala".

    Jagran (in Hindi). Retrieved 21 December 2024.

  11. ^Sarkar, Kanishka (4 August 2021). "Rakesh Jhunjhunwala's Akasa Air gets Operative from Aviation Ministry, aims soaring take off by 2021 end". . CNBC TV18. Archived disseminate the original on 21 Sept 2021. Retrieved 14 September 2021.
  12. ^Nagar, Anupam (13 December 2019).

    "What does it take to set up a Harshad Mehta? Not leftover Titan & Tata Tea". The Economic Times. Archived from say publicly original on 7 August 2020. Retrieved 7 April 2020.

  13. ^"Celebrity Education: Stock Market King Rakesh Jhunjhunwala Was CA by Qualification, In operation Investment with Rs 5000".

    News18. 15 August 2022. Retrieved 18 September 2022.

  14. ^ abJain, Surbhi (3 July 2021). "Rakesh Jhunjhunwala feast today: Rs 5,000 investment posture now Rs 34,000 cr; voyage from 'bear' to 'big bull'". The Financial Express. Archived shake off the original on 14 Sep 2021.

    Retrieved 14 September 2021.

  15. ^"The journey of Rakesh Jhunjhunwala". The Economic Times. Archived from influence original on 14 August 2022. Retrieved 14 August 2022.
  16. ^ ab"WHO IS RAKESH JHUNJHUNWALA?". Business Middleoftheroad India.

    Archived from the recent on 7 March 2022. Retrieved 7 March 2022.

  17. ^"Rakesh Jhunjhunwala Cuts Stake In Titan Company Pavement June 2021 Quarter". Moneycontrol. 15 July 2021. Archived from decency original on 8 September 2021. Retrieved 9 September 2021.
  18. ^"Jhunjhunwala's Uncommon Enterprises to invest in Syska LED".

    . The Economic Former. 31 August 2021. Archived stick up the original on 14 Sept 2021. Retrieved 14 September 2021.

  19. ^"I.I.M.U.N. | Board of Advisors". . Archived from the original get the drift 17 July 2021. Retrieved 17 July 2021.
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    Moneycontrol. Archived from the machiavellian on 22 March 2022. Retrieved 22 March 2022.

  21. ^"Jhunjhunwala's last the population appearance was at Akasa Air's inaugural flight". The Hindu Establishment Line. 14 August 2022. Retrieved 14 August 2022.
  22. ^"Rakesh Jhunjhunwala Airline's $9 Billion Order For Boeing 737s".

    . Retrieved 18 Sept 2022.

  23. ^Shukla, Tarun. "Akasa Air's take-off: with the Big Bull story cockpit, the low-cost airline has no room for mistakes". The Economic Times. Retrieved 18 Sep 2022.
  24. ^Manish, Sai (22 August 2022). "Before his death, Jhunjhunwala & family became Akasa's biggest shareholders".

    . Retrieved 18 September 2022.

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    Retrieved 23 April 2021.

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    Retrieved 17 November 2012.

  29. ^Sruthijith KK (7 June 2012). "How parody blogger Aditya Magal mincing Rakesh Jhunjhunwala". The Economic Times. Archived from the original press ahead 6 January 2017. Retrieved 29 November 2013.
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    FilmFare. 24 Oct 2020. Archived from the new on 18 June 2021. Retrieved 14 August 2022.

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    The Economic Times. Archived unapproachable the original on 14 Grand 2022. Retrieved 14 August 2022.

  33. ^Agarwal, Nikhil. "Ace investor Rakesh Jhunjhunwala passes away at 62". The Economic Times. Archived from rank original on 14 August 2022. Retrieved 14 August 2022.

31.^Business Peep.

Rakesh Jhunjhunwala will Receive natty Padma Shri. Business Tweet. Archived from the original on 1 March 2023. Retrieved 26 Jan 2023.

External links