Summary

Rakesh Jhunjhunwala was born on July 5, 1960. Jhunjhunwala was a legendary investor and trader, often referred to as the "Warren Buffett of India." He graduated from Sydenham College and thereafter enrolled with the Institute of Chartered Accountants of India. He was the chairman of Hungama Media and Aptech and was on the board of director of firms such as-Viceroy Hotels, Concord Biotech, Provogue India and Geojit Financial Services.

Personal Information

Key Achievements & Major Timelines

• In 1985, He began his investment journey with a capital of Rs 5,000, making his first significant profit in 1986 by short-selling shares of Tata Tea.
• In 1992, Following the Harshad Mehta Scam, Jhunjhunwala made a lot of money by shorting stocks and was considered part of the bear cartel.
• In 2002-2003, He invested in Titan Company, a poorly-performing stock. In 2021, Jhunjhunwala held approximately 5.1% stake in Titan, which is currently worth approximately Rs 11,000 crores.
• In 2003, Jhunjhunwala founded RARE Enterprises, a private stock trading firm, deriving its name from the first two letters of his and his wife Rekha's names.
• In 2021, Jhunjhunwala made a risky investment in Akasa Air, a low-cost airline in India, for a 40% stake and publicly held 37 stocks, including Titan Company, Tata Motors, Crisil, Lupin, among others with a net worth of more than Rs 19,000 crores.

Challenges & Controversies

Sebi had alleged that Jhunjhunwala had traded in Aptech Limited while in possession of unpublished price sensitive information. The case was later settled in 2021.

In 2022, Jhunjhunwala and his wife suffered a loss of nearly Rs 3,500 crores when Titan Company’s stocks fell by 29%.

Philanthropy and Personal Life

Jhunjhunwala donated to St. Jude, a shelter for underprivileged children battling cancer. He also helped in establishing the Agastya International Foundation, an Indian education trust and non-profit organisation whose mission is “to spark curiosity, nurture creativity and instil confidence”. In 2021, Jhunjhunwala featured in the EdelGive Hurun India Philanthropy list, with an annual donation of Rs 50 crore.