Jhunjhunwala is the 36th richest man in India. He was a trader and also a chartered accountant. He founded Akasa Air, a low-cost airline in India.
Jhunjhunwala grew up in a Rajasthani family, in Bombay, where his father worked as a Commissioner of Income Tax. He graduated from Sydenham College and thereafter enrolled at the Institute of Chartered Accountants of India. Jhunjhunwala's interest in stock markets arose when he observed his father discussing the markets with his friends. While his father guided him in the markets.
"𝐁𝐢𝐠 𝐁𝐮𝐥𝐥 𝐨𝐟 𝐈𝐧𝐝𝐢𝐚" 𝐚𝐧𝐝 𝐭𝐡𝐞 "𝐊𝐢𝐧𝐠 𝐨𝐟 𝐁𝐮𝐥𝐥 𝐌𝐚𝐫𝐤𝐞𝐭"
He was popularly referred to as the "Big Bull of India" and the "King of Bull Market", and was widely known for his stock market predictions and bullish outlooks.
The first big profit of Rakesh Jhunjhunwala was ₹5 lakh in 1986. Between 1986 and 1989, he earned almost ₹20-25 lakh profit.
Besides being an active investor Jhunjhunwala was the chairman of Aptech Limited and Hungama Digital Media Entertainment Pvt. Ltd. and sat on the board of directors of Prime Focus Limited, Geojit Financial Services, Bilcare Limited, Praj Industries Limited, Provogue India Limited, Concord Biotech Limited, Innovasynth Technologies (I) Limited, Mid Day Multimedia Limited, Nagarjuna Construction Company Limited, Viceroy Hotels Limited, and Tops Security Limited.
As of 2021, his biggest investment was in Titan Company which is worth ₹7,294.8 crores. He was a member of the Board of Advisors of India's International Movement to Unite Nations (I.I.M.U.N.). Akasa Air is an Indian airline co-founded by Rakesh Jhunjhunwala and former Jet Airways CEO Vinay Dubey. The airline currently has 2 aircraft with an additional order for 70 more aircraft and flies to 3 cities as of 9th Aug 2022.
In 2013, Jhunjhunwala bought 6 of the 12 units of Ridgeway apartments at Malabar Hill from Standard Chartered bank for Rs 176 crore. Later in 2017, he bought the other 6 apartments in the building from HSBC bank for Rs 195 crore. In 2021 he commenced the construction of his new 70,000 square feet 13 storey home after the demolition of the old building.
On 14 August 2022, he died at around 6:30 am later that morning. Doctors reported that he also suffered from the kidney-related problem and acute multiple organ failure.
Indian Prime Minister Narendra Modi shared his condolences stating, "Rakesh Jhunjhunwala was indomitable. Full of life, witty and insightful, he leaves behind an indelible contribution to the financial world. He was also very passionate about India’s progress. His passing away is saddening."
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