Rakesh Jhunjhunwala Age, Death, Caste, Wife, Children, Family, Biography & More

Some Lesser Known Facts About Rakesh Jhunjhunwala

• Was Rakesh Jhunjhunwala a smoker? According to Open Magazine, yes. [10]

• Was Rakesh Jhunjhunwala a consumer of alcohol? – Yes [11]YouTube

• Known as ‘the Big Bull’ or ‘the Phoenix’ of the Indian Stock Market, Rakesh Jhunjhunwala, an Indian businessman, began his remarkable journey with a mere Rs 5000 as his initial capital. Through his astute skills and strategic decisions, he successfully built an empire worth approximately Rs 19000 crores.

• Rakesh’s interest in the stock market began at a young age when he overheard his father discussing various stocks with his friends. In an interview, he shared that as a child, he would observe his father and his friends gathering in the evenings to talk about the stock market while enjoying their drinks. Curious about the reasons behind the constant changes in stock prices, Rakesh once asked his father for an explanation. His father advised him to pay attention to any news about Gwalior Rayon in the newspaper, as he believed that such news could potentially impact the stock’s price the following day. It is quite rare to come across a childhood picture of Rakesh Jhunjhunwala, making it a valuable discovery.

• Rakesh heeded his father’s advice to learn about the workings of the stock market, which captivated his interest. Excited about pursuing stock trading, he shared his aspirations with his father, who urged him to first complete his graduation. After obtaining his CA certification in January 1985, Rakesh once again approached his father to discuss his dream of entering the stock market. When asked about his father’s reaction during a media interview, Rakesh recounted that upon hearing his request for financial assistance, his father promptly advised him against seeking monetary support from him or his contacts. However, his father did offer him the option to live in their Mumbai house and reassured him that if he encountered any setbacks in the market, he could always fall back on his career as a chartered accountant. This sense of security greatly motivated Rakesh to strive for success in his life.

• When Mr. Jhunjhunwala started trading, the Sensex was trading at approximately 150 points. As of 2020, the Sensex has surpassed 45,000 points. At that time, Rakesh’s brother, a practicing Chartered Accountant, introduced him to some of his clients. His first client, Mr. Mendonca, invested Rs 1,50,000, while the second client invested Rs 10 lakh. Rakesh convinced them by promising a return of 18% compared to the 8% they were receiving from banks. Since Mr. Jhunjhunwala embarked on his trading journey, the SENSEX has undergone significant growth.

• Rakesh made his initial significant gain in the stock market with Tata Tea shares. He purchased them at Rs. 43 and later sold them at Rs. 143, resulting in a profit of Rs. 5 lakhs, which equates to a 300% return. In addition to this success, Rakesh also invested in Sesa Goa during his early trading days. Recognizing the decline in iron ore prices, he acquired the shares at Rs. 28 and subsequently sold them at Rs. 65, generating a profit of 25 lakhs within the first few years of his trading venture. Rakesh’s achievements in the trading business marked the beginning of his journey towards becoming a prominent figure in the Dalal Street.

• Rakesh’s notable investment moves involved purchasing 80 million shares of Titan Ltd. in 2002-03 at approximately Rs 5 per share. This investment soared to Rs. 1500 per share by 2020, resulting in substantial growth. Additionally, he acquired shares of Lupin Ltd. at Rs. 150, which as of 2020, have reached around Rs. 975. These smart investments played a pivotal role in Rakesh’s accumulation of vast wealth.

• After the 2008 recession, Mr. Jhunjhunwala encountered a setback as his stocks experienced a 30% decline. However, he managed to regain nearly all of his losses by early 2012.

• The asset management company ‘Rare Enterprises’ was co-owned by the King of Dalal Street and his wife, Rekha Jhunjhunwala. The company’s name is a combination of the initials of the joint owners, with ‘Ra’ representing Rakesh and ‘Re’ representing Rekha.

• In 2020, Rakesh was ranked as the 54th wealthiest Indian, with Mukesh Ambani leading the list. Rakesh gained significant attention in 2017 when he earned over Rs. 875 crores in just one day, thanks to the rapid increase in Titan’s stock value.

• considers Radhakishan Damani, an Indian billionaire stock investor, as his business mentor. They made significant profits by engaging in short-selling stocks during the time when Harshad Mehta was known as the Big Bull. In an interview, Rakesh stated that his fortune reached its peak in ’92 through extensive short-selling. He shared an interesting incident where BSE CEO Mr. Mayya would contact him at various stages, threatening to revoke his badge due to the short-selling. Rakesh humorously asked Mr. Mayya if it would have been more beneficial for him to join their endeavors rather than dismiss him at every stage.

• Actor Kavin Dave played the role of Mr. Jhunjhunwala in the popular web series Scam 1992: The Harshad Mehta Story on SonyLIV.

• Rakesh Jhunjhunwala believed that learning from his mistakes was the key to his success. In an interview, he was asked about the qualities needed to become a successful investor. He responded by stating that not acknowledging the power of the markets prevents one from recognizing their own mistakes. Refusing to admit errors hampers the ability to learn and grow. To achieve success in the stock market, one must not only be able to learn from their mistakes but also take full responsibility for them.

• Mr. Jhunjhunwala, who is known for his philanthropy, expressed in an interview with The Economic Times that he believes God is the ultimate provider and it is our duty to utilize our wealth for the betterment of society. As a result, his ultimate goal in life is to allocate a substantial portion of his earnings to support various social causes. Presently, he commits to donating one-third of his dividends to charity, which serves as his guaranteed source of income. He plans to maintain this practice in the future and hopes to establish a charitable endowment of at least Rs. 500 crores as time goes on.

• During a discussion, Rakesh Jhunjhunwala, the subject of a satire blog called “Secret Journal of Rakesh Jhunjhunwala,” written by Aditya Magal, talked about the novel “How to become a billionaire by selling Nothing,” a fictional parody written by the same author in 2014.

• Rakesh Jhunjhunwala, the chairman of Hungama Digital Media Entertainment, was not only a passionate fan of Hindi films but also actively involved in their production. He played a key role in co-producing notable movies such as ‘English Vinglish’ (2012), Shamitabh (2015), and Ki&Ka (2016).

• Commercial flights were permitted for Rakesh Jhunjhunwala’s Akasa Air by the aviation regulator on 7th July 2022.

We are excited to inform you that we have received our Air Operator Certificate (AOC). This achievement marks a major milestone as it allows us to commence selling flight tickets and embark on our commercial operations.

On July 7, 2022, Akasa Air tweeted: “@AkasaAir”