By Ekta Chanana Last Updated:
Legendary investor, Rakesh Jhunjhunwala left a legacy behind. He taught millions how with the right thinking and mindfulness, one could become a billionaire. His life story is an inspiration for the entire nation and the young generation. However, not many know that Rakesh Jhunjhunwala was a regular boy from Mumbai and with just Rs. 5000, he had become a successful stock investor in history.
Sadly, on August 14, 2022, Rakesh Jhunjhunwala passed away at the age of 62 in Mumbai. He had a cardiac arrest, and reports are rife that he had multiple health problems. The billionaire was declared dead at the Breach Candy Hospital in Mumbai. Let's take a look at Rakesh Jhunjhunwala's journey from being a regular boy to being a billionaire.
Rakesh Jhunjhunwala popularly known as Warren Buffett of India hailed from a middle-class family. He was born on July 5, 1960. His father, Radheshyam Jhunjhunwala was an IRS officer, who worked as the commissioner of Income Tax. From a young age, Rakesh was surrounded by the talks of money, taxes and stock markets at his home.
Rakesh Jhunjhunwala's father laid a strong foundation for him before he had even thought of becoming a billionaire. Rakesh's father insisted he should follow his dream, only after completing his professional degree. In 1985, Jhujhunwala completed his CA from Sydenham College. After which, he expressed his desire to invest in the stock market. To this, his father said, "Do it on your own and don’t ask anyone for money." That was the start of Rakesh's inspiring life. He had started his journey with just Rs. 5000.
In 1986, Rakesh brought 5000 shares of Tata Tea at Rs. 43 per piece. Within just three months, the stock rose to Rs. 143, and Jhunjhunwala made his first huge profit of Rs 0.5 million. After which, there was no stopping as he kept making more such trades that earned him huge profits.
In 1987, Rakesh Jhunjhunwala tied the knot with Rekha Jhunjhunwala. It was in the year 2004, when Rakesh and Rekha embraced their parenthood journey with the arrival of their daughter, Nishtha Jhunjhunwala. In a media interaction, Rakesh expressed his love for his family. He had said:
"I don’t know how you describe a family man. But I can tell you one thing, nothing is more important to me than my children and there is no woman I can ever love in my life other than Rekha Jhunjhunwala (wife), come what may."
In 2009, Rakesh Jhunjhunwala and his wife, Rekha welcomed twin boys. Aryaman and Aryaveer Jhunjhunwala. He had thrown a lavish party on the birth of his sons at the Hyatt in Mumbai.
Like every Indian, Rakesh Jhunjhunwala was a Bollywood buff. In fact, his love encouraged him to invest in Bollywood, and he turned producer for films like English Vinglish, Shamitabh, and Ki & Ka.
Rakesh Jhunjhunwala loved street food. He was a typical Mumbaikar and had undisputed love for pav bhaji, especially the one cooked by his wife, Rekha. He also loved dosa and Chinese food.
Rakesh Jhunjhunwala was a successful investor. His net worth is of dollar 5.8 billion (Rs. 4,61,85,40,00,000). He was one of the biggest investors in the stock market and had a massive influence on the investor and stock trajectories. He had also entered the aviation market and the newly-launched Akasa Air.
On August 14, 2022, Rakesh Jhunjhunwala had taken his last breath after he had suffered a cardiac arrest. He had left the entire nation mourning!