Rakesh Jhunjhunwala Net Worth In Rupees

Rakesh Jhunjhunwala, often referred to as “India’s Warren Buffett,” was an iconic Indian investor and trader with an estimated net worth of ₹48,000 crore at the time of his passing. Known for his sharp investment acumen and unmatched success in the stock market, Jhunjhunwala was a partner in Rare Enterprises, his asset management firm, and a major investor in multiple high-profile ventures, including Akasa Air.

Rakesh Jhunjhunwala Net Worth in Rupees	₹48,000 crore
Date of Birth	July 5, 1960
Place of Birth	Hyderabad, Andhra Pradesh
Nationality	Indian
Died	Aug 14, 2022 (62 years old)
Profession	Stock Trader, Investor, Film Producer

Table of Contents

Early Life

Born on July 5, 1960, in Hyderabad, Andhra Pradesh, Rakesh Jhunjhunwala was raised in Mumbai in a Rajasthani Marwari family. He pursued his higher education at Sydenham College of Economics before earning his chartered accountancy qualification from the Institute of Chartered Accountants of India.

Jhunjhunwala’s interest in the stock market was sparked by the conversations he overheard between his father, an income tax commissioner, and his friends. Inspired, he began investing while still in college, starting with a modest ₹5,000.

Career

Jhunjhunwala made his first major profit in 1986, earning ₹5 lakh from his early investments. Between 1986 and 1989, he amassed profits of approximately ₹20–25 lakh, marking the beginning of his meteoric rise in the financial world.

Rare Enterprises

In 2003, Jhunjhunwala co-founded Rare Enterprises, deriving its name from the first two letters of his and his wife Rekha’s names. Through this firm, he managed his portfolio and made significant investments in companies like Titan Company, Tata Motors, and Crisil, among others.

In 2021, Jhunjhunwala made headlines with his ₹280 crore investment in Akasa Air, a low-cost Indian airline. This gave him a 40% stake in the airline, which aimed to revolutionize the Indian aviation sector.

Real Estate Ventures

Jhunjhunwala’s investments extended beyond stocks. In 2013, he purchased six Ridgeway apartments at Malabar Hill in Mumbai for ₹176 crore, later acquiring the remaining six units for ₹195 crore. The original structure was demolished to pave the way for a luxurious 13-story mansion spanning 70,000 square feet.

Philanthropy

Jhunjhunwala was as committed to philanthropy as he was to investing. He generously supported organizations such as the Agastya International Foundation, Olympic Gold Quest, St. Jude India ChildCare Centres, and the Friends of Tribals Society. Before his death, he had pledged to donate 25% of his wealth to charitable causes.

Insider Trading Investigation

Jhunjhunwala’s success inevitably drew scrutiny. In 2021, he faced an insider trading investigation by the Securities and Exchange Board of India (SEBI). He settled the case by paying a penalty of ₹35 crore.

Personal Life and Passing

Jhunjhunwala married Rekha Jhunjhunwala in 1987, and the couple had three children: a daughter, Nishtha, and twin sons, Aryaveer and Aryaman.

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In August 2022, Jhunjhunwala was admitted to Breach Candy Hospital in Mumbai due to health complications. He passed away on August 14, 2022, at the age of 62, from multiple organ failure.