After Demise, Focus Shifts To 'Big Bull' Rakesh Jhunjhunwala's Stock Portfolio Worth Nearly $4 Billion
India¡¯s ¡®Big Bull¡¯ Rakesh Jhunjhunwala died on 14th August 2022. The ace investor and billionaire¡¯s death has put spotlight on the nearly $4 billion worth of stocks which were held by him.
India¡¯s ¡®Big Bull¡¯ Rakesh Jhunjhunwala died on 14th August 2022. The ace investor and billionaire¡¯s death has put spotlight on the nearly $4 billion worth of stocks which were held by him.
62 year old Jhunjhunwala, also known as India¡¯s Warren Buffett, had died of a reported cardiac arrest last Sunday. Over his four decade investment journey, the self-made trader had invested in a wide swathe of established businesses and startups, and served on the boards of several Indian firms.
Rakesh Jhunjhunwala was among the most influential market voices in Asia¡¯s third-biggest economy, with an intense following among the nation¡¯s growing horde of retail investors. The ¡°Big Bull¡± was known to be a fierce backer of the India growth story. His investing success earned him a cult-like following, with news of his trades occasionally sparking stocks to move by their daily limits, as per Bloomberg report.
As per Forbes, Jhunjhunwala¡¯s net worth was a mammoth $5.8 billion. Shares held by the deceased investor and his wife are worth almost $4 billion, the report mentioned. The key holdings include- around $1.4 billion in Titan, $ 884 million in Star Health, $281 million in Metro brands, $262 million in Tata Motors, $164 million in Crisil and $113 million in Fortis healthcare.
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Amongst his wide portfolio, jewellery retailer Titan was one of the largest and most profitable investments for the veteran trader and his wife Rekha Jhunjhunwala, making up for more than a third of their portfolio, according to data compiled by Bloomberg. As per Forbes, Jhunjhunwala¡¯s biggest asset worth over $1.5 billion is Titan shares.
The other top holdings by market value include Star Health & Allied Insurance Co., footwear maker Metro Brands Ltd. (14% stake) and automaker Tata Motors Ltd . Jhunjhunwala held stakes of more than 10% in Star Health, IT firm Aptech Ltd . and video game maker Nazara Technologies Ltd.
His portfolio also includes companies like Rallis India, Escorts, Canara Bank, Indian Hotels Company, Agro Tech Foods, Tata Motors. Overall, he had a stake in 47 companies at the end of the June 2022 quarter, as per Mint.
In 2020, when he featured on Forbes Asia¡¯s list of Heroes of Philanthropy, Jhunjhunwala had said, ¡° When I became a billionaire in 2008, my father wasn¡¯t interested in my net worth but in how much I was going to give away.¡± He had said a couple of years ago that he wanted to give away 25% of his wealth within his lifetime, as per Forbes.
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Also Read: Rakesh Jhunjhunwala's Stock Prediction For Zomato Comes True
Upon his demise, Prime Minister Narendra Modi acknowledged the impact Jhunjhunwala had on the investing community. The ¡°indomitable¡± investor made ¡°an indelible contribution to the financial world,¡± PM Modi wrote in a tweet on India's Independence Day eve.
Rakesh Jhunjhunwala was indomitable. Full of life, witty and insightful, he leaves behind an indelible contribution to the financial world. He was also very passionate about India¡¯s progress. His passing away is saddening. My condolences to his family and admirers. Om Shanti. pic.twitter.com/DR2uIiiUb7
¡ª Narendra Modi (@narendramodi) August 14, 2022
No Impact On Akasa Air?
There have also been reports that Rakesh Jhunjhunwala backed Akasa Air¡¯s business operations wont be impacted by the ace investor¡¯s demise. The airline had launched barely a week before the 62 year old¡¯s passing. Last year, he had reportedly invested $35 million for a 40% stake in the low-cost airline Akasa Air.
The ace investor and billionaire was not supposed to be involved in the day-to-day operations of the airline, Bergis Desai, former managing partner of law firm J Sagar Associates and an investor in Akasa Air, told ET. He further added that the shareholder agreement has been structured in a way that will ensure the management by the estate, and every commitment that has been made will be honoured.
¡ª Akasa Air (@AkasaAir) August 14, 2022
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