Rakesh Jhunjhunwala is an Indian business tycoon and stocks dealer. Rakesh Jhunjhunwala, a financial backer with a Midas contact, is frequently alluded to as India’s own Warren Buffet. He deals with his own portfolio as an accomplice in his resource the board firm, Rare Enterprises.
During his initial life, Rakesh experienced childhood in an Agarwal Family in Bombay, where his dad, functioned as Commissioner of Income Tax, Bombay.
His family has a place with Jhunjhunu. He moved on from Sydenham College and from that point enlisted at the Institute of Chartered Accountants of India. He is a dealer and furthermore a chartered accountant. As per Forbes’ Rich List, Jhunjhunwala is the 48th most extravagant man in the country.
He is the administrator of Hungama Media and Aptech and sits on the governing body of firms, for example, – Viceroy Hotels, Concord Biotech, Provogue India, and Geojit Financial Services.
He was brought into the world on 5 July 1960 in an informed family in Hyderabad, Telangana, India. His dad, Radheshyamji Jhunjhunwala was an Income Tax Officer, and his mom, Urmila Jhunjhunwala was a homemaker. He has a sibling and two sisters. His senior sibling, name Rajesh Jhunjhunwala is likewise a charted accountant. Furthermore, his sister’s names, Sudha Gupta and Neena Sanganeria. He is married to Rekha Jhunjunwala, who is also a stock market investor.
A Couple has three kids, a little girl named Nishtha and twin children, Aryaman and Aryavir. The name of his exclusive stock exchanging firm, Rare Enterprises, is made by joining the initial two letters of his name and his significant other Rekha’s name. He is known as a family man and is exceptionally near his sibling, spouse, and kids. He brought his youngsters up in a manner with the goal that they don’t feel abundance is a need for each delight in an individual’s life.
In February 2012, he and his better half facilitated a gathering to praise their 25th marriage commemoration, which was an elegant issue gone to by a few famous legislators, businessmen, and superstars including Anil Kapoor, Suniel Shetty, Kabir Bedi, Tabu, Talat Aziz, Rajkumar Hirani, Harsh Goenka, and Ramesh Sippy.
Rakesh Jhunjhunwala began his education in a normal school. Later he went to Mumbai where he took a crack at Sydenham College of Commerce and Economics for his Commerce schooling. Subsequent to finishing his schooling there, he thought to turn into a Chartered Accountant (C.A.). Accordingly, he joined The Institute of Chartered Accountants of India to additionally accomplish a CA degree.
His dad was likewise a stock market trader from his advanced age. Jhunjhunwala’s constantly used to pay attention to his dad’s conversations about the share market. As he was exceptionally inquisitive with regards to the securities exchange so when he got some information about the justification changes in stock costs. His dad encouraged him to read newspapers day by day since this is the news that makes the stock costs all over. Jhunjhunwala additionally requested that his dad enter the financial exchange.
His dad denied the solicitation and recommended he initially get an advanced education from a school. While his dad permitted him to fiddle with the share market, but he wouldn’t give him a monetary guide and prohibited him to ask companions or friends for cash.
Jhunjhunwala was a daring person directly from the beginning. He acquired cash from his sibling’s customers and vowed to return the capital with better yields compared with bank fixed deposits. Rakesh Jhunjhunwala procured his first huge benefit in 1986 when he purchased Tata Tea shares. He purchased 5,000 portions of Tata Tea at just Rs 43 and later that stock rose to Rs 143 inside 90 days.
He received more than three times a profit. In the following three years, Jhunjhunwala procured Rs 20-25 lakh. Throughout the long term, Jhunjhunwala effectively put resources into Titan, CRISIL, Sesa Goa, Praj Industries, Aurobindo Pharma, and NCC.
“My father reacted by telling me not to ask him or any of his friends for money. He, however, told me that I could live in the house in Mumbai and that if I did not do well in the market I could always earn my livelihood as a chartered accountant. This sense of security really drove me in life. ” (Source: Google)
His altruistic/ philanthropic portfolio incorporates nourishment and education. Constantly 2020, Jhunjhunwala plans to part with 25% of his wealth to a good cause. He adds to St Jude, which runs a shelter for cancer-affected kids, Agastya International Foundation, and Arpan, a substance that makes mindfulness among youngsters on sexual abuse.
He likewise upholds Ashoka University, Friends of Tribals Society, and Olympic Gold Quest. He is currently assembling an eye medical clinic in Navi Mumbai, which will perform 15,000 eye medical procedures free from cost