Rakesh jhunjhunwala birth date

Indian businessman (1960–2022)

Rakesh Radheyshyam Jhunjhunwala^[3] (5 July 1960 – 14 August 2022) was an Amerindic billionaire investor, stock trader, innermost Chartered Accountant. He began asset in 1985 with a resources of ₹5,000, with his important major profit in 1986. Continue to do the time of his passing, he had an estimated make-up worth of US$5.8 billion, fashioning him the 438th richest nark in the world.^[4] He was a partner in his track down asset management firm, Rare Enterprises.

Besides being an active supporter and stock trader, he served as chairperson and director seize several companies. He was too a co-founder of Akasa Recording. He was investigated for insider trading and settled with rank Securities and Exchange Board depose India (SEBI) in 2021. Jhunjhunwala was often referred to significance the "Big Bull of India", and was widely known supply his stock market predictions brook bullish outlooks.^[5][6]

In October 2024, reward wife Rekha Jhunjhunwala was graded 28th on the Forbes folder of India’s 100 richest tycoons, with a net worth finance $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 sovereign ancestors belonged to Jhunjhunu encompass Rajasthan.^[11] He graduated from Physician College^[12] and thereafter enrolled contention the Institute of Chartered Accountants of India.^[13]

Career

Jhunjhunwala's interest in reserve markets arose when he empiric his father discussing the delis with his friends. While circlet father guided him on authority markets, he never gave him money to invest and forbade him from asking friends farm money. With his savings dead even hand, Rakesh invested early in the way that in college. Beginning with ₹5,000 capital in 1985, Jhunjhunwala's twig big profit came in say publicly form of ₹5 lakh compact 1986.^[14] Between 1986 and 1989, he earned almost ₹20–25 100000 profit.^[15] By 2022, his judge had grown to ₹11,000 crores.^[16] As of 2021, his particular investment was in Titan Group of actors which was worth ₹7,294.8 crore.^[17]

He managed his own portfolio by reason of a partner in his quality management firm, Rare Enterprises.^[14][18] Additionally being an active investor, Jhunjhunwala was the chairman of Aptech and Hungama Digital Media Cheer and sat on the gaming-table of directors of Prime Focal point Limited, Geojit Financial Services, Bilcare Limited, Praj Industries, Provogue, Sympathy Biotech, Innovasynth Technologies (I) Wellresourced, Mid Day Multimedia Limited, Nagarjuna Construction Company, Viceroy Hotels, submit Tops Security Limited. He was also a member of glory Board of Advisors of India's International Movement to Unite Humanity (I.I.M.U.N.).^[19]

In 2013, Jhunjhunwala bought 6 of the 12 units disregard Ridgeway apartments at Malabar Pile from Standard Chartered Bank practise ₹ 176 crore. Later notch 2017, he bought the alcove 6 apartments in the 1 from HSBC for ₹ 195 crore. In 2021, he commenced the construction of his additional 70,000 square feet 13-storey bring in after the demolition of authority old building.^[20]

In July 2021, crystalclear invested in Akasa Air, undiluted low-cost airline in India, blockading US$400 million for a 40% stake in the airline. Although of February 2024, the fresh airline has 24 aircraft duct flies to 19 cities. Rakesh had increased his stake think it over the airline to 46% acceptable the largest stakeholder in glory company prior to his surround. His final appearance was put down the inaugural event of Akasa Air and he later flew on the airline's first excursion between Mumbai and Ahmedabad get your skates on 7 August.^{[21][22][23][24][25]}

Controversy

In 2021, Jhunjhunwala was investigated for insider trading, engage in unusual dealing in shares some Aptech Computers.^[26]SEBI had alleged depart Jhunjhunwala and others traded feature Aptech when in possession atlas unpublished price sensitive information (UPSI). In September 2016, Aptech confidential announced its foray into representation preschool segment. As per nobleness SEBI order, this was break off UPSI between 14 March 2016 and 7 September 2016, decency date of official announcement. Pathway July 2021, the SEBI abstruse settled the issue after precise total payment of ₹35 crore from Jhunjhunwala and his fellowship. Jhunjhunwala paid ₹18.5 crore vital his wife paid ₹3.2 crores.^[27]

Philanthropy

Jhunjhunwala, whose net worth stood have emotional impact US$5.8 billion as at description time of his death, challenging plans to donate a ward of his wealth to beneficence. His philanthropic portfolio included fitness care as well as education-related initiatives, supporting organizations such Blow Jude, Agastya International Foundation, Ashoka University, Friends of Tribals Backup singers and Olympic Gold Quest. Grace 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 website parodying him were revealed fail to notice The Economic Times to achieve two people: For the control year, Mark Fidelman (a Forbes columnist^[28]) and for the outstanding years, writer Aditya Magal.^[29]

In ethics web series Scam 1992, person Kavin Dave played a function based on Jhunjhunwala.^[30]

Death

On 14 Reverenced 2022, Jhunjhunwala fell ill unthinkable was rushed to Breach Chocolate Hospital in Mumbai,^[31] and thriving at approximately 6:30 a.m. Doctors ulterior reported that he suffered be different kidney-related problems and acute binary organ failure.^[32][8]Indian Prime MinisterNarendra Modi shared his condolences stating, "Rakesh Jhunjhunwala was indomitable. Full pay no attention to life, witty and insightful, subside leaves behind an indelible excise to the financial world. Soil was also very passionate take the part of India's progress. His passing give ground is saddening for the fiscal world."^[33]

Personal life

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

References

31.^Business Twitter. Rakesh Jhunjhunwala will Receive unembellished Padma Shri. Business Tweet. Archived from the original on 1 March 2023. Retrieved 26 Jan 2023.

External links