Billionaire investor and stock trader Rakesh Jhunjhunwala has passed away at the age of 62 in Mumbai. He entered the stock market in 1985 by investing Rs 5000. Later he became the Big Bull of India.
Rakesh Jhunjhunwala (file photo)
stockbrokers and investors Rakesh Jhunjhunwala has passed away. He was 62 years old. He died at Mumbai’s Bridge Candy Hospital. He was taken to the hospital at 6.40 am today. It is said that he was suffering from diabetes and kidney disease. His net worth in July 2022 was $5.5 billion. He was the 36th richest person in India. He started his career in the stock market by earning Rs 5000 and later he became a veteran of this market.
Jhunjhunwala grew up in Mumbai in a Rajasthani family. His father worked as Income Tax Commissioner. He graduated from Sydenham College and then joined the Institute of Chartered Accountants of India. He became interested in the stock market when he overheard his father talking to his friend on the market. His father guided him in this field, but he never gave him money to invest and refused to ask friends for money.
Jhunjhunwala’s career progressed like this
After this Jhunjhunwala started investing in the market with the amount of his savings during his college days. In 1985 he started with 5000 rupees and today his investment has increased to 11000 crores. He was known as ‘Big Bull of India’ and ‘The King of Bull Market’. His first big profit was 5 lakhs in 1986. Between 1986 and 1989, he made a profit of about 20 to 25 lakh rupees. He bought 5000 shares of Tata Tea in 1986 for Rs 43 which increased to Rs 143 within three months and made 3 times profit. His biggest investment till 2021 was in Titan Company, which was worth Rs 7294.8 crore.
These companies were also involved
Jhunjhunwala was also the chairman of Aptech Ltd and Hungama Digital Media Entertainment Pvt Ltd. Apart from this, Prime Focus Ltd., Geojit Financial Services, Bilcare Ltd., Praj Industries Ltd., Provogue India Ltd., Concorde Biotech Ltd., Innovasynth Technologies (I) Ltd., Mid Day Multimedia Ltd., Nagarjuna Construction Company Ltd., Viceroy Hotels Ltd. and Tops Security Ltd. Was included in the Board of Directors.