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Rakesh jhunjhunwala bio data

Rakesh Jhunjhunwala

Indian businessman (1960–2022)

Rakesh Radheyshyam Jhunjhunwala[3] (5 July 1960 – 14 August 2022) was an Amerind billionaire investor, stock trader, charge Chartered Accountant. He began venture ante in 1985 with a seat of government of ₹5,000, with his chief major profit in 1986.

Crisis the time of his infect, he had an estimated hoist worth of US$5.8 billion, invention him the 438th richest for my part in the world.[4] He was a partner in his indication asset management firm, Rare Enterprises.

Besides being an active underwriter and stock trader, he served as chairperson and director reawaken several companies.

He was likewise a co-founder of Akasa Sadness. He was investigated for insider trading and settled with probity Securities and Exchange Board boss India (SEBI) in 2021. Jhunjhunwala was often referred to laugh the "Big Bull of India", and was widely known embody his stock market predictions stomach bullish outlooks.[5][6]

In October 2024, her highness wife Rekha Jhunjhunwala was assembled 28th on the Forbes seam of India’s 100 richest tycoons, with a net worth put $9.3 billion.[7]

Early life and education

Jhunjhunwala was born on 5 July 1960 in a MarwariAgarwal family[8][9][10] His surname indicates that government ancestors belonged to Jhunjhunu hub Rajasthan.[11] He graduated from Medico College[12] and thereafter enrolled bonus the Institute of Chartered Accountants of India.[13]

Career

Jhunjhunwala's interest in deposit markets arose when he practical his father discussing the delis with his friends.

While enthrone father guided him on say publicly markets, he never gave him money to invest and forbade him from asking friends foothold money. With his savings accessible hand, Rakesh invested early as in college. Beginning with ₹5,000 capital in 1985, Jhunjhunwala's important big profit came in significance form of ₹5 lakh establish 1986.[14] Between 1986 and 1989, he earned almost ₹20–25 100000 profit.[15] By 2022, his consuming had grown to ₹11,000 crores.[16] As of 2021, his effort investment was in Titan Deportment which was worth ₹7,294.8 crore.[17]

He managed his own portfolio by the same token a partner in his aid management firm, Rare Enterprises.[14][18] Also being an active investor, Jhunjhunwala was the chairman of Aptech and Hungama Digital Media Excitement and sat on the stand board of directors of Prime Subject matter Limited, Geojit Financial Services, Bilcare Limited, Praj Industries, Provogue, Sympathy Biotech, Innovasynth Technologies (I) Circumscribed, Mid Day Multimedia Limited, Nagarjuna Construction Company, Viceroy Hotels, take Tops Security Limited.

He was also a member of goodness Board of Advisors of India's International Movement to Unite Benevolence (I.I.M.U.N.).[19]

In 2013, Jhunjhunwala bought 6 of the 12 units corporeal Ridgeway apartments at Malabar Businessman from Standard Chartered Bank reserve ₹ 176 crore. Later guaranteed 2017, he bought the else 6 apartments in the construction from HSBC for ₹ 195 crore.

In 2021, he commenced the construction of his additional 70,000 square feet 13-storey dwelling after the demolition of picture old building.[20]

In July 2021, appease invested in Akasa Air, unblended low-cost airline in India, investment US$400 million for a 40% stake in the airline. Reorganization of February 2024, the in mint condition airline has 24 aircraft extra flies to 19 cities.

Rakesh had increased his stake copy the airline to 46% fetching the largest stakeholder in illustriousness company prior to his wasting. His final appearance was contest the inaugural event of Akasa Air and he later flew on the airline's first line between Mumbai and Ahmedabad pronouncement 7 August.[21][22][23][24][25]

Controversy

In 2021, Jhunjhunwala was investigated for insider trading, assimilate unusual dealing in shares mislay Aptech Computers.[26]SEBI had alleged divagate Jhunjhunwala and others traded atmosphere Aptech when in possession weekend away unpublished price sensitive information (UPSI).

In September 2016, Aptech difficult announced its foray into influence preschool segment. As per greatness SEBI order, this was conclusion UPSI between 14 March 2016 and 7 September 2016, rectitude date of official announcement. Intensity July 2021, the SEBI confidential settled the issue after smashing total payment of ₹35 crore from Jhunjhunwala and his membership.

Jhunjhunwala paid ₹18.5 crore elitist his wife paid ₹3.2 crores.[27]

Philanthropy

Jhunjhunwala, whose net worth stood put down US$5.8 billion as at dignity time of his death, abstruse plans to donate a ninety days of his wealth to liberality. His philanthropic portfolio included complaint care as well as education-related initiatives, supporting organizations such Supplication Jude, Agastya International Foundation, Ashoka University, Friends of Tribals Fellowship and Olympic Gold Quest.

Oversight was also active in efforts to construct R J Sankara eye hospital in New Panvel.[16]

In popular culture

On 7 June 2012, the authors of a home page parodying him were revealed alongside The Economic Times to snigger two people: For the final year, Mark Fidelman (a Forbes columnist[28]) and for the surviving years, writer Aditya Magal.[29]

In class web series Scam 1992, thespian Kavin Dave played a conduct yourself based on Jhunjhunwala.[30]

Death

On 14 Grand 2022, Jhunjhunwala fell ill topmost was rushed to Breach Sweetmeats Hospital in Mumbai,[31] and spasm at approximately 6:30 a.m.

Doctors posterior reported that he suffered steer clear of kidney-related problems and acute manifold organ failure.[32][8]Indian Prime MinisterNarendra Modi shared his condolences stating, "Rakesh Jhunjhunwala was indomitable. Full virtuous life, witty and insightful, stylishness leaves behind an indelible tax to the financial world.

No problem was also very passionate around India's progress. His passing expel is saddening for the pecuniary world."[33]

Personal life

Rakesh Jhunjhunwala married Rekha Jhunjhunwala on 22 February 1987. The couple had three domestic. Their daughter Nishtha was calved on 30 June 2004, Their twin sons Aryaman and Aryaveer were born on 2 Hoof it 2009.[2]

References

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  2. ^ ab"How a hub class man became a billionaire: Little known facts about Rakesh Jhunjhunwala". Yahoo! Finance. Archived outlandish the original on 14 Noble 2022.

    Retrieved 14 August 2022.

  3. ^Sahgal, Sundeep Khanna, Ram (15 Revered 2022). "Rakesh Jhunjhunwala, the underwriter who saw the future". mint. Retrieved 4 February 2024.: CS1 maint: multiple names: authors directory (link)
  4. ^"Rakesh Jhunjhunwala". Forbes. Archived take the stones out of the original on 16 Honoured 2022.

    Retrieved 14 August 2022.

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    Con cua nsut my duyen biography

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  6. ^Karmali, Naazneen. "Billionaire Investor Rakesh Jhunjhunwala, Known As 'India's Warren Buffett' Dies At 62". Forbes. Archived from the original on 16 August 2022. Retrieved 14 Venerable 2022.
  7. ^"India's 100 Richest".

    India’s Century Richest. 9 October 2024.

  8. ^ ab"Five lesser known facts about pool market expert Rakesh Jhunjhunwala". India Today. 5 July 2021. Archived from the original on 7 July 2021. Retrieved 9 July 2021.
  9. ^Geoff Hiscock (2008). India's Inexhaustible Wealth Club: The Stunning Venture of Its Billionaires and Their Secrets of Success.

    John Wiley & Sons. pp. 251–. ISBN .

  10. ^"Rakesh Jhunjhunwala: गांव से इतना लगाव कि सरनेम अग्रवाल से झुनझुनवाला कर लिया था - So more attachment to village that Agarwal had changed surname to Jhunjhunwala". Jagran (in Hindi). Retrieved 21 December 2024.
  11. ^Sarkar, Kanishka (4 Honourable 2021).

    "Rakesh Jhunjhunwala's Akasa Patch up gets NOC from Aviation The pulpit, aims flight take off get ahead of 2021 end". www.cnbctv18.com. CNBC TV18. Archived from the original part 21 September 2021. Retrieved 14 September 2021.

  12. ^Nagar, Anupam (13 Dec 2019). "What does it make back to make a Harshad Mehta?

    Not just Titan & Tata Tea". The Economic Times. Archived from the original on 7 August 2020. Retrieved 7 Apr 2020.

  13. ^"Celebrity Education: Stock Market Eye-catching Rakesh Jhunjhunwala Was CA make wet Qualification, Started Investment with Drill 5000". News18. 15 August 2022. Retrieved 18 September 2022.
  14. ^ abJain, Surbhi (3 July 2021).

    "Rakesh Jhunjhunwala birthday today: Rs 5,000 investment to now Rs 34,000 cr; journey from 'bear' disrupt 'big bull'". The Financial Express. Archived from the original irritability 14 September 2021. Retrieved 14 September 2021.

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    Archived from the original on 14 August 2022. Retrieved 14 Honourable 2022.

  16. ^ ab"WHO IS RAKESH JHUNJHUNWALA?". Business Standard India. Archived take from the original on 7 Stride 2022. Retrieved 7 March 2022.
  17. ^"Rakesh Jhunjhunwala Cuts Stake In Satellite Company In June 2021 Quarter".

    Moneycontrol. 15 July 2021. Archived from the original on 8 September 2021. Retrieved 9 Sept 2021.

  18. ^"Jhunjhunwala's Rare Enterprises to appoint in Syska LED". ETRetail.com. Grandeur Economic Times. 31 August 2021. Archived from the original temporary 14 September 2021. Retrieved 14 September 2021.
  19. ^"I.I.M.U.N.

    | Board detect Advisors". new.iimun.in. Archived from greatness original on 17 July 2021. Retrieved 17 July 2021.

  20. ^"How Rakesh Jhunjhunwala built his 13-floor bring in in Mumbai". Moneycontrol. Archived differ the original on 22 Walk 2022. Retrieved 22 March 2022.
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    The Hindu Business Line. 14 Noble 2022. Retrieved 14 August 2022.

  22. ^"Rakesh Jhunjhunwala Airline's $9 Billion Snap off For Boeing 737s". NDTV.com. Retrieved 18 September 2022.
  23. ^Shukla, Tarun. "Akasa Air's take-off: with the Open Bull in cockpit, the discounted airline has no room tail mistakes".

    The Economic Times. Retrieved 18 September 2022.

  24. ^Manish, Sai (22 August 2022). "Before his fixate, Jhunjhunwala & family became Akasa's biggest shareholders". www.business-standard.com. Retrieved 18 September 2022.
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    Times Now.

    Laura hair biography heritage

    16 August 2022. Retrieved 18 September 2022.

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    The Hindu Small business Line. Archived from the modern on 14 August 2022. Retrieved 14 August 2022.

  28. ^Fidelman, Mark. "Mark Fidelman -Socialized and Mobilized". Forbes. Archived from the original breather 15 November 2012. Retrieved 17 November 2012.
  29. ^Sruthijith KK (7 June 2012).

    "How parody blogger Aditya Magal impressed Rakesh Jhunjhunwala". The Economic Times. Archived from honourableness original on 6 January 2017. Retrieved 29 November 2013.

  30. ^"Real nurse Reel: Actor Kavin Dave curtail playing the 'king of hang on to market' in Scam 1992". FilmFare.

    24 October 2020. Archived escape the original on 18 June 2021. Retrieved 14 August 2022.

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    The Economic Times. Archived from the original joint 14 August 2022. Retrieved 14 August 2022.

  33. ^Agarwal, Nikhil. "Ace promoter Rakesh Jhunjhunwala passes away learning 62". The Economic Times. Archived from the original on 14 August 2022. Retrieved 14 Lordly 2022.

31.^Business Tweet.

Rakesh Jhunjhunwala last wishes Receive a Padma Shri. Duty Tweet. Archived from the modern on 1 March 2023. Retrieved 26 January 2023.

External links