Popularly known as India's own Warren Buffet, Rakesh Jhunjhunwala is the 38th richest person in India, with net worth of $3.3 billion. He is an ace investor and made Rs 196.94 crore in the last five trading sessions from just one of his investments.?
Born in Hyderabad and brought up in Mumbai, he is the chairman of Hungama Media and Aptech and sits on the board of directors of firms such as - Viceroy Hotels, Concord Biotech, Provogue India and Geojit Financial Services.
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The 60-year-old started dabbling in the stock market when he was in college. He studied at the Institute of Chartered Accountant of India. However, once he graduated, he shifted his focus and decided to apply his expertise into the Dalal street.?
Back in 1985, he invested Rs 5,000 as capital and by September 2018, that same capital had inflated to Rs 11,000 crore.?
In fact, his interest in the stock market does not come from a place of academia but from pure interest in the game. He used to pay attention when his father would discuss the stock prices with his friends.?
Quoting his father, Jhunjhunwala said his father told him to read newspapers regularly as it was the news that made stock market fluctuate. His father also allowed him to dabble with the stock but refused to provide him with any monetary support.?
Jhunjhunwala borrowed money from his brother's clients and promised them a higher return as compared to bank fixed deposits.
He hit jackpot when in 1986, he bought Rs 5,000 shares of Tata Tea at Rs 43 and the stock rose to Rs 143 within three months.?He earned over three-times profit. In three years he had earned 20-25 lakh.
Over the last few decades, Jhunjhunwala has successfully invested in Titan, CRISIL, Sesa Goa, Praj Industries, Aurobindo Pharma and NCC.?
The big bull of Dalal street is also a philanthropist. He contributes to St Jude which runs shelters for cancer-affected children,?Agastya International Foundation and Arpan, an entity that helps create awareness among children on sexual exploitation.?
He also supports Ashoka University, Friends of Tribals Society and Olympic Gold Quest.?