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In this video article, we will talk about the biography of Rakesh Jhunjhunwala, who is called the Warren Buffett of India. His early life, stock market journey, career and big investments, starting of Aakash Air , personal life and family, demise and his legacy. Rakesh Jhunjhunwala started with ₹5,000 and amassed a fortune worth billions and became known as the Big Bull of India.
His story teaches us to never give up and keep working hard to fulfill our dreams. Hello friends about. Rakesh Jhunjhunwala (5 July 1960 – 14 August 2022) was an Indian billionaire business magnate, stock trader and investor. He managed his own portfolio as a partner in his asset management firm, Rare Enterprises.
Jhunjhunwala grew up in Bombay in a Rajasthani family. Where his father worked as Income Tax Commissioner. His surname indicates that his ancestors were from Jhunjhunu, Rajasthan. He graduated from Sydenham College and then enrolled at the Institute of Chartered Accountants of India. His estimated net worth was ₹5.5 billion as of July 2022.
Due to which he became the 36th richest person in India. In 2022 he founded Akasa Air, a low-cost airline in India. Now we will talk about career. Career Rakesh's interest in stock markets arose when he saw his father discussing the markets with his friends. While his father guided him in the markets.
He never gave them money to invest and refused to ask friends for money. With his savings in hand, Rakesh started investing soon after college. Starting with a capital of ₹5,000 in 1985, his investments have grown to ₹45,000 crore today. Apart from being an active investor, Rakesh Jhunjhunwala was the Chairman of Aptech Limited and Hungama Digital Media Entertainment Pvt.
Ltd. Ltd. and Prime Focus Ltd. Jiojit Financial Services Billed Industries Provok India Concord Biotech Ltd. Innova Synth Technologies I Ltd. Mid Day Multimedia Ltd. Nagarjuna Construction Company Ltd. He sat on the board of directors of Viceroy Hotels Ltd. and Top Security Ltd. He was popularly known as The Big Bull of India and King of Bull Market and was widely known for his stock market predictions and bullish outlook.
Rakesh Jhunjhunwala's first big profit was ₹5 lakh in 1986. Between 1986 and 1989 he made a profit of around ₹20 to ₹25 lakh. His largest investment as of 2021 was in Titan Company. Whose price is ₹7294 crores. He was a member of the Advisory Board of India's International Movement for the United Nations (IIMU).
Akasa Air is an Indian airline founded by Rakesh Jhunjhunwala and former Jet Airways CEO Vinay Dubedara. The airline currently has two aircraft on order along with an additional 70 aircraft and will fly to the three cities by August 9, 2022. In 2013, Jhunjhunwala bought six of the 12 units in Ridgeway Apartments in Malabar Hill from Standard Chartered Bank for ₹176 crore.
Later in 2017, he bought another six apartments in the building from HSBC Bank for ₹15 crore. In 2021 he demolished the old building and began construction on his new 70 foot square 13 story house. Personal life Rakesh Jhunjhunwala married Rekha Jhunjhunwala on 22 February 1987. The couple had three children.
Their daughter Nishtha was born on 30 June 2004. Their twin sons Aryaman and Aryaveer were born on 2 March 2009. On August 14, 2022, Rakesh felt some uneasiness in his health due to which he was taken to Bridge Candy Hospital in Mumbai. He died at approximately 6:30 that morning. Doctors said he was also suffering from kidney-related problems and multiple organ failure.
Indian Prime Minister Narendra Modi shared his condolences and said that Rakesh Jhunjhunuwala was indomitable. Full of life, funny and insightful. He made an indelible contribution to the financial world. He was also very passionate about the progress of India. His demise is sad. Friends, here I would like to end my talk and say just this to you. Never For Ever Give Up.
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