Who was Rakesh Jhunjhunwala?

Rakesh Jhunjhunwala, the Indian billionaire stock market investor, has passed away at the age of 62. The investor, who was called India’s Warren Buffet, was suffering from physical ailments for quite some time now. He was suffering from medical issues related to the kidney recently released from a hopsital.

Born in Hyderabad on July 5, 1960, Jhunjhunwala is a graduate of the Sydenham College of Commerce and Economics, Bombay, and had also studied at The Institute of Chartered Accountants of India. 

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Jhunjhunwala took an interest in the stock market as a child, when he listened to discussions regarding investments his father had with friends. However, the young Jhunjhunwala was not given any money by his father for investing. He was also warned against borrowing money for the same. It was in 1985, with money he had saved up, that the Big Bull of India started his investment journey. His investments later amounted to around Rs. 11,000 crores.

Jhunjhunwala was also the chairman of companies like Aptech Limited and Hungama Digital Media Entertainment Pvt. Ltd. He was also on the board of directors of numerous companies, namely, Prime Focus Limited, Geojit Financial Services, Bilcare Limited, Praj Industries Limited, Provogue India Limited, Concord Biotech Limited, Innovasynth Technologies (I) Limited, Mid Day Multimedia Limited, Nagarjuna Construction Company Limited, Viceroy Hotels Limited, and Tops Security Limited. 

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In 2020, Jhunjhunwala found himself the subject of an investigation by the Securities and Exchange Board of India (SEBI). He was accused of insider trading and had to pay, along with some of his associates, a sum of Rs. 20 crores.

The biggest investment the Big Bull had made during his lifetime was a sum of Rs. 7,294.8 crores in The Titan Company.

Jhunjhunwala, in partnership with Vinay Dubey, the former CEO of Jet Airways, had founded the airline company, Akasa Air.