Wizards of the Street | A tribute to the big bull Rakesh Jhunjhunwala

There is a wonderful line in the musical, the Wizard of Oz, when the Wizard tells the Tin Man, a heart is not judged by how much you love but by how much you are loved by others. The outpouring love and concern that India saw on August 14, 2022 – the day Rakesh Jhunjhunwala passed away – is a testament to how beloved and idealised he had become as an icon in Indian capital markets. The story of his life became the history of modern Dalal Street.

Rakesh Jhunjhunwala was the very first guest on Wizards of Dalal Street when the series was started in 2005.

Bhaskar Bhat, Director at Tata Son, Utpal Sheth, CEO of RARE Enterprises, Amit Goela, Partner of RARE Enterprises and N Jayakumar, MD of Prime Securities discussed his life, legacy and learnings.

Jhunjhunwala was reported to have a net worth of over $5 billion. He was the promoter of Akasa Air, which started operations in August, and Star Health & Allied Insurance.

He also had an asset management firm Rare Enterprises. Jhunjhunwala enrolled in the ICAI after graduating from Sydenham College of Commerce and Economics, Mumbai.

As of August, Jhunjhunwala's estimated net worth was $5.8 billion, making him the 36th richest man in India.