Rakesh Jhunjhunwala built a $5 billion net worth. He started dabbling in stocks while still in college, even after his father refused to offer him money for trading. He is often referred to as India's Warren Buffett.
Jhunjhunwala began investing with $100 in 1985 when the Bombay Stock Exchange Index was at 150.
Jhunjhunwala was said to be an investor with a Midas touch. His most valuable listed holding was watch and jewellery maker Titan.
Over the years, the ace investor successfully invested in CRISIL, Sesa Goa, Praj Industries, Aurobindo Pharma and NCC.
His early bets on Star Health & Allied Insurance and Metro Brands paid off when both companies were listed in 2021.
Jhunjhunwala ran a privately-owned stock trading firm called RARE Enterprises. The trading firm derives its name from the first two initials of his name and his wife Rekha's.
He was also the latest entrant in the aviation market with his latest venture, Akasa airlines. The airline took flight on August 7.
On the philanthropic side, Jhunjhunwala contributes to St Jude, a shelter for cancer-affected children.
He also contributes to Agastya International Foundation and Arpan, an entity that helps create awareness among children about sexual exploitation.
He was building an eye hospital in Navi Mumbai, which will perform 15,000 eye surgeries free of cost.
First Published: Aug 14, 2022 10:22 AM IST
