Rakesh Jhunjhunwala: One Of The Best & Inspiring Investor, Is No More
India’s one of the biggest & most-inspiring investor & businessman Rakesh Jhunjhunwala passed away. He grew his wealth from ₹5,000 to $5.8 billion (around Rs 46,000 crore).
Rakesh Jhunjhunwala, a billionaire stock investor and the creator of the nation’s newest airline, Akasa Air, passed unexpectedly early on Sunday.
He was 62. Sudden cardiac arrest caused Jhunjhunwala’s death. At 6.45 am, he was transported dead to the hospital. In Mumbai, his final rites took place on Sunday in the late evening.
Rakesh Jhunjhunwala was indomitable. Full of life, witty and insightful, he leaves behind an indelible contribution to the financial world. He was also very passionate about India’s progress. His passing away is saddening. My condolences to his family and admirers. Om Shanti. pic.twitter.com/DR2uIiiUb7— Narendra Modi (@narendramodi) August 14, 2022
Who was Rakesh Junjhunwala?
Jhunjhunwala, who was born on July 5, 1960, studied and received training to become a chartered accountant.
Since the mid-1980s, his investments have risen to $5.8 billion, or Rs 46,000 crore, as of August 2022.
He was referred to as “India’s Warren Buffett” and was a strong supporter of the BJP government as well as its economic policies.
Both personally and through the asset management company RARE Enterprises, he made stock market investments.
Rakesh and his wife’s first two names are combined to form the name “RARE” (Rakesh and Rekha).
Assets & Stakes of Rakesh Junjhunwala
In addition to 5 limited liability partnership firms, he served as a director for three companies: RARE Equity Private ltd., RARE Family Foundation, and HOPE Film Makers.
About thirty businesses, including Titan, Tata Motors, Crisil Ltd, Karur Vysya Bank, Aptech, Canara Bank, and Fortis Healthcare, are among those in which he has sizable stakes.
In addition to Akasa Air, which he recently formed, Jhunjhunwala is also a promoter of Star Health and Allied Insurance; he and his wife collectively own 17.49% of the business. The pair has stakes in Titan (5.05%), Crisil (5.48%), and Federal Bank (3.64%).
His other significant investment holdings include a 5.05 percent share in Titan Company, which he and his wife Rekha jointly owned. His ownership share in Tata Motors is 1.09 percent.
Rakesh Junjhunwala: An Inspiring Investor & Businessman
Rakesh Junjhunwala was seen as a risk-taker, and many people think Jhunjhunwala encouraged millions of individual investors with his optimism because he had a long-term outlook for the Indian economy and markets. He kept a number of his investments for over ten years.
As Jhunjhunwala’s portfolio value skyrocketed over the years, dealers and investors used to closely monitor his investment choices.
Jhunjhunwala invested in shares, which hundreds of investors bought without thinking.
Rakesh Junjhunwala was a brilliant man with a golden heart and the best market understanding ever.
He made a tremendous contribution to the markets because he was optimistic, took calculated risks, and motivated both retail and HNI (high net-worth individuals) investors.