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Rakesh Jhunjhunwala
Rj in office.jpg
Born (1960-07-05) 5 July 1960 (age 58)
Mumbai, India
Education Chartered accountant
Alma mater University of Mumbai
The Institute of Chartered Accountants of India (ICAI)e
Occupation Owner of Rare Enterprises, investor , trader & film producer
Net worth Increase USD 3 Billion (February 2018)[1]
Spouse(s) Rekha Jhunjunwala
Children 3

Rakesh Jhunjhunwala (born 5 July 1960) is an Indian Billionaire Investor and Trader. He is a Chartered Accountant. He manages his own portfolio as a partner in his asset management firm, Rare Enterprises.[2][3] Jhunjhunwala has been described by India Today magazine as the "pin-up boy of the current bull run"[4] and by The Economic Times as "Pied Piper of Indian bourses".[5]

As per Forbes, he is the 50th richest person in India, with net worth of USD 3 billion (as of June 1, 2018).[6]

Contents

Early lifeEdit

Jhunjhunwala grew in a Marwadi family in Mumbai, India where his father was posted as an Income Tax Officer. He graduated from Sydenham College and thereafter enrolled at the Institute of Chartered Accountants of India.[citation needed]

CareerEdit

Jhunjhunwala is the chairman of Aptech Limited and Hungama Digital Media Entertainment Pvt. Ltd. and sits on the board of directors of various Indian companies such as 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. He is popularly referred to as the "Warren Buffett of India" and the "King of Bull Market".[7]

Jhunjhunwala's stocks fell by up to 30% in December 2011.[8] He recovered his losses in February 2012.[9] These ups and downs forced him to reduce his vulnerability by trimming his portfolio to one-third.[10] His attempts to divest his Aptech stake had no takers. [11] In May 2012 he increased his stake in Aptech by 2.24% now holds 12.7%

Jhunjhunwala invested 26 Crores ($4.6 Million) in A2Z Maintenance[12] increasing his stake in the company by 3.57%, taking his stake in the company to 23.2 per cent.

He is also credited as a producer of the 2016 movie Ki & Ka.

In popular cultureEdit

Like the Fake Steve blog, there is a popular parody blog called The Secret Journal of Rakesh Jhunjhunwala that humorously parodies the Investor's life. On 7 June 2012, the authors were revealed by The Economic Times to be two people[13][1] . For the first year, Forbes columnist and American Mark Fidelman[14] and for the remaining years, Author and Writer Aditya Magal from India.

ReferencesEdit

  1. ^ Jhunjhunwala topic page. Forbes.com. Retrieved October 2012.
  2. ^ "RAKESH JHUNJHUNWALA BIO". Retrieved 9 November 2012. 
  3. ^ "Mr. Rakesh Jhunjhunwala – Chairman". Retrieved 9 November 2012. 
  4. ^ "Untitled Document". 
  5. ^ "The journey of Rakesh Jhunjhunwala - The Economic Times". 
  6. ^ "Rakesh Jhunjhunwala - Profile". Forbes. 2 July 2017. Retrieved 2 July 2017. 
  7. ^ "Rakesh Jhunjhunwala Story". 4Remedy. 15 November 2017. Retrieved 8 May 2018. 
  8. ^ Nihar, Gokhale (17 December 2011). "ET Bureau". The Economic Times. Retrieved 28 April 2012. 
  9. ^ "Rakesh Jhunjhunwala Slaughters The Bears". Rakesh Jhunjhunwala Slaughters The Bears. Rakesh-jhunjhunwala.in. Retrieved 28 April 2012. 
  10. ^ Modak, Samie (27 April 2012). "Rakesh Jhunjhunwala to trim companies in his portfolio". Business Standard. Retrieved 28 April 2012. 
  11. ^ John, Satish (5 April 2012). "No takers for Rakesh Jhunjhunwala's stake in Aptech". The Economic Times. Retrieved 28 April 2012. 
  12. ^ "Rakesh Jhunjhunwala buys shares worth Rs 26 crore in A2Z Maintenance and Engineering Services". Economic Times. 22 May 2012. Retrieved 5 June 2012. 
  13. ^ "How parody blogger Aditya Magal impressed Rakesh Jhunjhunwala - The Economic Times". 
  14. ^ Fidelman, Mark. "Mark Fidelman -Socialized and Mobilized – Forbes". Blogs.forbes.com one by one. Retrieved 17 November 2012. 

External linksEdit