Rakesh Jhunjhunwala, the Indian businessman, died in Mumbai at 62. He was called the Warren Buffet of India and as of 2022, Jhunjhunwala’s net worth is estimated to be $5.60 Billion (Rs 44,300 Crore). 

Known as the Big Bull, Jhunjhunwala had the tendency to push stocks which turned to gold. He sat on the board of directors of many Indian companies including Prime Focus Limited, Geojit BNP Paribas Financial Services Limited, 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, and was the chairperson in Aptech Limited and Hungama Digital Media Entertainment Pvt. Ltd. 

Apart from an impressive portfolio, the Mumbai-born investor also has dealings in real estate, with his luxury home estimated to be around Rs 82 crores. He also owns several luxury cars, adding to his assets. 

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Jhunjhunwala’s net worth in 2021 was $4.6 billion (Rs 34,387 crore) and witnessed a 15% increment. His first big win came in 1986 when he made a Rs 5 lakh profit with Tata Tea. 

He bought 5,000 shares of Tata Tea at Rs 43 and it zoomed to Rs 143 per share in three months, more than tripling the money invested. Jhunjhunwala also publicly holds stocks in 33 companies, which are estimated to be worth Rs 25,842.3 crore. 

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Jhunjhunwala was a bear in the Harshad Mehta days and admitted that he made a lot of money short selling. The investor married Rekha Jhunjhunwala, another stock market investor, in 1987. The two set up RARE Enterprises, a stock trading firm. 

He had also made a foray into the aviation industry, with Akasa airlines. Growing up, Jhunjhunwala’s father was an income tax officer, which spiked his curiosity about stocks and why they fluctuate.