Rakesh Jhunjhunwala, also known as India's Warren Buffett is a business magnate and stocks trader. The 61-year-old's net worth is valued at $5.9 billion as of October 11, 2021. He ranked 665th in the list of Forbes Billionaires 2021. He was 36th richest Indian, according to the Forbes list that was rleased on October 6, 2021. Forbes described Jhunjhunwala as an investor with Midas touch. In addition to his excellent performance in investing and trading, he is also a qualified Chartered Accountant.
He is the chairman of Aptech Limited and Hungama Digital Media Entertainment Pvt. Ltd.; and is a member of the board of directors at a bunch of Indian companies. Some of his most valued listed holdings include the watch and jewelry-making brand Titan which is a part of the Tata conglomerate. In addition to this, he has stakes in the private sector like Star Health insurance, Metro Brands and Concord Biotech.
He was born on July 5, 1960, in Bombay and his father worked as an income tax officer. Rakesh was always a well-performing student and had started dabbling in stocks from a very young age. He had shared in an interview that he developed his interest in stocks after listening to his father talk about it.
He did his schooling at Sydenham College and then he enrolled at the Institute of Chartered Accountants of India. After getting his degree, he decided to make a career in stock trading at the Dalal street.
His first-ever investment was of Rs. 5000 which was around $100 in 1985. He was still in college and at that time the Stock Exchange Trade was at 150 points. By September 2018, that capital had inflated to Rs 11,000 crore. Over the years, he successfully invested in Titan, CRISIL, Sesa Goa, Praj Industries, Aurobindo Pharma, and NCC.
He married Rekha Jhunjhunwala in 1987 who is also an investor in the stock market. They have 3 kids together, daughter Nistha and twins Aryaman and Aryaveer. Rekha has been participating in the market along with her husband for a long time and has a successful trading history too. They together established Rare enterprises which is their own stock trading firm. The name of the company was based on their name initials.
His domain isn't restricted to the stock market. He is a lover of Bollywood films and had himself produced three renowned films, English Vinglish, Ki&Ka, and Shamitabh. His diversified philanthropic portfolio also includes nutrition and education. He also plans to give off a share of his earnings as a charity, he runs shelters for cancer-affected children, Agastya International Foundation, and Arpan, an entity that helps create awareness among children on sexual exploitation. He also supports Ashoka University, Friends of Tribals Society, and Olympic Gold Quest. He is in the process of building an eye hospital in Navi Mumbai, which will perform 15,000 eye surgeries free of cost.