Why Rakesh Jhunjhunwala is called the Warren Buffett of India, know the secret from which he is earning crores
Born in a middle-class family, Rakesh Jhunjhunwala’s journey to become a stock market expert is no less than an adventure.
Rakesh Jhunjhunwala, popularly known as Big Bull, earns crores from the stock market. Millions of investors of the country follow this king of stock market. Investors keep a close watch on his every move and why not keep it. Born in a middle-class family, Rakesh Jhunjhunwala’s journey to become a stock market expert is no less than an adventure.
Jhunjhunwala started trading in 1985 while still in college. He started with a capital of Rs 5,000 for the first time in the stock market and today everyone who invests in the stock market dreams of becoming like the ‘Warren Buffett of India’ Rakesh Jhunjhunwala.
According to Forbes Magazine, Rakesh Jhunjhunwala is the 48th richest person in India with a net worth of $4.6 billion (Rs 34,387 crore). According to Jhunjhunwala, his share market interest had increased after listening to his father. He has been a risk taker in stocks since the beginning of his career.
Rakesh Jhunjhunwala got his first big profit when he bought shares of Tata Tea in 1986. He had bought 5,000 shares of Tata Tea for just Rs 43 and later his shares rose to Rs 143 within three months. From here Rakesh Jhunjhunwala did not look back and in the next three years he earned 20-25 lakh rupees.
Started investing during college days
Rakesh Jhunjhunwala was born on 5 July 1960 in Mumbai. His father was an income tax officer. Inspired by his father, he joined the Institute of Chartered Accountants of India. He started investing in the stock market right from his college days and started with Rs 5,000 as capital for the first time.
donate a large part of the earnings
Jhunjhunwala donates 25% of his earnings to charity. In the year 2020, he donated 25 percent of his portfolio. He contributes to St. Jude, which runs a shelter for children affected by cancer. Also, Agastya International Foundation and Arpan, an organization that helps in creating awareness about sexual abuse among children.
Very fond of Bollywood movies
Rakesh Jhunjhunwala is very fond of Bollywood films. He produced the Hindi film ‘English Vinglish’. He is also very fond of food and enjoys Chinese cuisine the most. He also loves watching cooking shows. Rakesh Jhunjhunwala married Rekha Jhunjhunwala in 1987. His wife Rekha is also a stock market investor. He established his own stock trading firm named ‘Rare Enterprises’ in 2003. The name is derived from the first two letters of him and his wife.
Jhunjhunwala was once the beer of the stock market
Jhunjhunwala has invested in shares of 37 companies, as of March 2021. He is taking a bullish stance on the banking sector. He was a bear in the stock market during Harshad Mehta’s days and made a lot of money through stock shorts after the Harshad Mehta scam came to light in 1992.
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