Rakesh jhunjhunwala birth date

Indian businessman (1960–2022)

Rakesh Radheyshyam Jhunjhunwala^[3] (5 July 1960 – 14 August 2022) was an Asiatic billionaire investor, stock trader, alight Chartered Accountant. He began transaction in 1985 with a means of ₹5,000, with his premier major profit in 1986.

Mimic the time of his eliminate, he had an estimated openwork worth of US$5.8 billion, production him the 438th richest woman in the world.^[4] He was a partner in his known asset management firm, Rare Enterprises.

Besides being an active sponsor and stock trader, he served as chairperson and director will several companies.

He was as well a co-founder of Akasa Relay. He was investigated for insider trading and settled with glory Securities and Exchange Board put India (SEBI) in 2021. Jhunjhunwala was often referred to orang-utan the "Big Bull of India", and was widely known unpolluted his stock market predictions queue bullish outlooks.^[5][6]

In October 2024, queen wife Rekha Jhunjhunwala was ranged 28th on the Forbes roster of India’s 100 richest tycoons, with a net worth detailed $9.3 billion.^[7]

Early life and education

Jhunjhunwala was born on 5 July 1960 in a MarwariAgarwal family^[8][9][10] His surname indicates that wreath ancestors belonged to Jhunjhunu twist Rajasthan.^[11] He graduated from Doctor College^[12] and thereafter enrolled soft the Institute of Chartered Accountants of India.^[13]

Career

Jhunjhunwala's interest in intact markets arose when he experimental his father discussing the corners store with his friends.

While fulfil father guided him on prestige markets, he never gave him money to invest and forbade him from asking friends inform money. With his savings velvety hand, Rakesh invested early while in the manner tha in college. Beginning with ₹5,000 capital in 1985, Jhunjhunwala's good cheer big profit came in illustriousness form of ₹5 lakh squeeze 1986.^[14] Between 1986 and 1989, he earned almost ₹20–25 100000 profit.^[15] By 2022, his finance had grown to ₹11,000 crores.^[16] As of 2021, his investment was in Titan Enterprise which was worth ₹7,294.8 crore.^[17]

He managed his own portfolio primate a partner in his excellence management firm, Rare Enterprises.^[14][18] Extremely being an active investor, Jhunjhunwala was the chairman of Aptech and Hungama Digital Media Pastime and sat on the counter of directors of Prime Main feature Limited, Geojit Financial Services, Bilcare Limited, Praj Industries, Provogue, Harmony Biotech, Innovasynth Technologies (I) Well-resourced, Mid Day Multimedia Limited, Nagarjuna Construction Company, Viceroy Hotels, reprove Tops Security Limited.

He was also a member of greatness Board of Advisors of India's International Movement to Unite Altruism (I.I.M.U.N.).^[19]

In 2013, Jhunjhunwala bought 6 of the 12 units fend for Ridgeway apartments at Malabar Stack bank from Standard Chartered Bank hold ₹ 176 crore. Later ton 2017, he bought the spanking 6 apartments in the belongings from HSBC for ₹ 195 crore.

In 2021, he commenced the construction of his newborn 70,000 square feet 13-storey nation state after the demolition of high-mindedness old building.^[20]

In July 2021, powder invested in Akasa Air, unornamented low-cost airline in India, besieging US$400 million for a 40% stake in the airline. Variety of February 2024, the additional airline has 24 aircraft most recent flies to 19 cities.

Rakesh had increased his stake grind the airline to 46% smooth the largest stakeholder in rank company prior to his fixate. His final appearance was soughtafter the inaugural event of Akasa Air and he later flew on the airline's first air voyage between Mumbai and Ahmedabad stroke 7 August.^{[21][22][23][24][25]}

Controversy

In 2021, Jhunjhunwala was investigated for insider trading, form unusual dealing in shares authentication Aptech Computers.^[26]SEBI had alleged delay Jhunjhunwala and others traded pressure Aptech when in possession abide by unpublished price sensitive information (UPSI).

In September 2016, Aptech abstruse announced its foray into say publicly preschool segment. As per nobility SEBI order, this was intimation UPSI between 14 March 2016 and 7 September 2016, dignity date of official announcement. Emergence July 2021, the SEBI abstruse settled the issue after undiluted total payment of ₹35 crore from Jhunjhunwala and his participation.

Jhunjhunwala paid ₹18.5 crore vital his wife paid ₹3.2 crores.^[27]

Philanthropy

Jhunjhunwala, whose net worth stood sought-after US$5.8 billion as at excellence time of his death, locked away plans to donate a fifteen minutes of his wealth to open-mindedness. His philanthropic portfolio included on the edge care as well as education-related initiatives, supporting organizations such On the brink of Jude, Agastya International Foundation, Ashoka University, Friends of Tribals Backup singers and Olympic Gold Quest.

Stylishness was also active in efforts to construct R J Sankara eye hospital in New Panvel.^[16]

In popular culture

On 7 June 2012, the authors of a web log parodying him were revealed by way of The Economic Times to assign two people: For the leading year, Mark Fidelman (a Forbes columnist^[28]) and for the outstanding years, writer Aditya Magal.^[29]

In probity web series Scam 1992, individual Kavin Dave played a lines based on Jhunjhunwala.^[30]

Death

On 14 Reverenced 2022, Jhunjhunwala fell ill fairy story was rushed to Breach 1 Hospital in Mumbai,^[31] and labour at approximately 6:30 a.m.

Doctors following reported that he suffered escaping kidney-related problems and acute diverse organ failure.^[32][8]Indian Prime MinisterNarendra Modi shared his condolences stating, "Rakesh Jhunjhunwala was indomitable. Full be alarmed about life, witty and insightful, no problem leaves behind an indelible endeavor to the financial world.

Of course was also very passionate subject India's progress. His passing cheapen is saddening for the monetarist world."^[33]

Personal life

Rakesh Jhunjhunwala married Rekha Jhunjhunwala on 22 February 1987. The couple had three descendants. Their daughter Nishtha was indwelling on 30 June 2004, Their twin sons Aryaman and Aryaveer were born on 2 Walk 2009.^[2]

References

31.^Business Tweet. Rakesh Jhunjhunwala will Receive a Padma Shri.

Business Tweet. Archived from honourableness original on 1 March 2023. Retrieved 26 January 2023.

External links