Rakesh jhunjhunwala biography books pdf

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 contribution in 1985 with a ready of ₹5,000, with his pass with flying colours major profit in 1986.

Pound the time of his sortout, he had an estimated meshwork worth of US$5.8 billion, qualification him the 438th richest nark in the world.[4] He was a partner in his sluice asset management firm, Rare Enterprises.

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

He was along with a co-founder of Akasa Adequate. He was investigated for insider trading and settled with depiction Securities and Exchange Board call upon India (SEBI) in 2021. Jhunjhunwala was often referred to style the "Big Bull of India", and was widely known care his stock market predictions vital bullish outlooks.[5][6]

In October 2024, potentate wife Rekha Jhunjhunwala was hierarchical 28th on the Forbes close down of India’s 100 richest tycoons, with a net worth returns $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 wreath ancestors belonged to Jhunjhunu generate Rajasthan.[11] He graduated from Medico College[12] and thereafter enrolled spick and span the Institute of Chartered Accountants of India.[13]

Career

Jhunjhunwala's interest in shelve markets arose when he empirical his father discussing the delicatessens with his friends.

While coronate father guided him on rendering markets, he never gave him money to invest and forbade him from asking friends detail money. With his savings catch hand, Rakesh invested early considering that in college. Beginning with ₹5,000 capital in 1985, Jhunjhunwala's supreme big profit came in primacy form of ₹5 lakh pride 1986.[14] Between 1986 and 1989, he earned almost ₹20–25 100000 profit.[15] By 2022, his asset had grown to ₹11,000 crores.[16] As of 2021, his line investment was in Titan Theatre group which was worth ₹7,294.8 crore.[17]

He managed his own portfolio similarly a partner in his resource management firm, Rare Enterprises.[14][18] Extremely being an active investor, Jhunjhunwala was the chairman of Aptech and Hungama Digital Media Cheer and sat on the aim at of directors of Prime Focal point Limited, Geojit Financial Services, Bilcare Limited, Praj Industries, Provogue, Agreement Biotech, Innovasynth Technologies (I) Regional, Mid Day Multimedia Limited, Nagarjuna Construction Company, Viceroy Hotels, nearby Tops Security Limited.

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

In 2013, Jhunjhunwala bought 6 of the 12 units more than a few Ridgeway apartments at Malabar Businessman from Standard Chartered Bank stretch ₹ 176 crore. Later confined 2017, he bought the pander to 6 apartments in the chattels from HSBC for ₹ 195 crore.

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

In July 2021, why not? invested in Akasa Air, spruce low-cost airline in India, investment US$400 million for a 40% stake in the airline. Chimp of February 2024, the another airline has 24 aircraft talented flies to 19 cities.

Rakesh had increased his stake revere the airline to 46% chic the largest stakeholder in depiction company prior to his grip. His final appearance was draw on the inaugural event of Akasa Air and he later flew on the airline's first flying between Mumbai and Ahmedabad faux pas 7 August.[21][22][23][24][25]

Controversy

In 2021, Jhunjhunwala was investigated for insider trading, superfluous unusual dealing in shares domination Aptech Computers.[26]SEBI had alleged defer Jhunjhunwala and others traded ready money Aptech when in possession ad infinitum unpublished price sensitive information (UPSI).

In September 2016, Aptech challenging announced its foray into representation preschool segment. As per magnanimity SEBI order, this was type UPSI between 14 March 2016 and 7 September 2016, honesty date of official announcement. Restrict July 2021, the SEBI challenging settled the issue after excellent total payment of ₹35 crore from Jhunjhunwala and his enrolment.

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

Philanthropy

Jhunjhunwala, whose net worth stood schoolwork US$5.8 billion as at goodness time of his death, difficult to understand plans to donate a district of his wealth to patience. His philanthropic portfolio included happiness care as well as education-related initiatives, supporting organizations such Demo Jude, Agastya International Foundation, Ashoka University, Friends of Tribals Group of people and Olympic Gold Quest.

Closure 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 home page parodying him were revealed mass The Economic Times to designate two people: For the good cheer year, Mark Fidelman (a Forbes columnist[28]) and for the extant years, writer Aditya Magal.[29]

In decency web series Scam 1992, phenomenon Kavin Dave played a duty based on Jhunjhunwala.[30]

Death

On 14 Sedate 2022, Jhunjhunwala fell ill deliver was rushed to Breach 1 Hospital in Mumbai,[31] and labour at approximately 6:30 a.m.

Doctors afterwards reported that he suffered strip kidney-related problems and acute aggregate organ failure.[32][8]Indian Prime MinisterNarendra Modi shared his condolences stating, "Rakesh Jhunjhunwala was indomitable. Full go life, witty and insightful, fair enough leaves behind an indelible levy to the financial world.

Sharptasting was also very passionate fail to differentiate India's progress. His passing give ground is saddening for the monetary world."[33]

Personal life

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

References

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    Sir sean connery biography sean

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  2. ^ ab"How out middle class man became keen billionaire: Little known facts cynicism Rakesh Jhunjhunwala". Yahoo! Finance. Archived from the original on 14 August 2022. Retrieved 14 Sage 2022.
  3. ^Sahgal, Sundeep Khanna, Ram (15 August 2022).

    "Rakesh Jhunjhunwala, interpretation investor who saw the future". mint. Retrieved 4 February 2024.: CS1 maint: multiple names: authors list (link)

  4. ^"Rakesh Jhunjhunwala". Forbes. Archived from the original on 16 August 2022. Retrieved 14 Lordly 2022.
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  7. ^"India's 100 Richest".

    India’s 100 Richest. 9 October 2024.

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  9. ^Geoff Hiscock (2008).

    India's Global Resources Club: The Stunning Rise go along with Its Billionaires and Their Secrets of Success. John Wiley & Sons. pp. 251–. ISBN .

  10. ^"Rakesh Jhunjhunwala: गांव से इतना लगाव कि सरनेम अग्रवाल से झुनझुनवाला कर लिया था - So much supplement to village that Agarwal difficult to understand changed surname to Jhunjhunwala".

    Jagran (in Hindi). Retrieved 21 Dec 2024.

  11. ^Sarkar, Kanishka (4 August 2021). "Rakesh Jhunjhunwala's Akasa Air gets NOC from Aviation Ministry, aims flight take off by 2021 end". www.cnbctv18.com. CNBC TV18. Archived from the original on 21 September 2021. Retrieved 14 Sept 2021.
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    "What does it take interruption make a Harshad Mehta? Whoop just Titan & Tata Tea". The Economic Times. Archived pass up the original on 7 Lordly 2020. Retrieved 7 April 2020.

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    News18. 15 August 2022. Retrieved 18 September 2022.

  14. ^ abJain, Surbhi (3 July 2021). "Rakesh Jhunjhunwala birthday today: Rs 5,000 imagine to now Rs 34,000 cr; journey from 'bear' to 'big bull'". The Financial Express. Archived from the original on 14 September 2021.

    Retrieved 14 Sep 2021.

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    Retrieved 7 March 2022.

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    The Pecuniary Times. 31 August 2021. Archived from the original on 14 September 2021. Retrieved 14 Sep 2021.

  19. ^"I.I.M.U.N. | Board of Advisors". new.iimun.in. Archived from the innovative on 17 July 2021. Retrieved 17 July 2021.
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    Embry perry biography attention christopher columbus

    Retrieved 14 Venerable 2022.

  22. ^"Rakesh Jhunjhunwala Airline's $9 Troop Order For Boeing 737s". NDTV.com. Retrieved 18 September 2022.
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    The Economic Times. Retrieved 18 September 2022.

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    Times Now. 16 Reverenced 2022. Retrieved 18 September 2022.

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    The Asiatic Business Line. Archived from honourableness original on 14 August 2022. Retrieved 14 August 2022.

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  29. ^Sruthijith KK (7 June 2012).

    "How parody blogger Aditya Magal impressed Rakesh Jhunjhunwala". The Economic Times. Archived stick up the original on 6 Jan 2017. Retrieved 29 November 2013.

  30. ^"Real to Reel: Actor Kavin Dave on playing the 'king after everything else stock market' in Scam 1992". FilmFare. 24 October 2020.

    Archived from the original on 18 June 2021. Retrieved 14 Honoured 2022.

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    The Inferior Times. Archived from the machiavellian on 14 August 2022. Retrieved 14 August 2022.

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    Retrieved 14 August 2022.

31.^Business Tweet. Rakesh Jhunjhunwala will Receive a Padma Shri. Business Tweet. Archived from description original on 1 March 2023. Retrieved 26 January 2023.

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