How Does Rakesh Jhunjhunwala Net Worth Influence The Indian Financial Markets?
Rakesh Jhunjhunwala, a seasoned stock market investor, passed suddenly on August 14, 2022, at the age of 62 due to kidney problems. Rakesh Jhunjhunwala reportedly had two failing kidneys and was receiving dialysis regularly. At 6:45 a.m., he was taken to the Candy Breach Hospital, where he was pronounced deceased.
Indian billionaire, Rakesh Jhunjhunwala started investing in 1985 with a capital of Rs. 5,000 and made his first significant profit in 1986. Since then everybody has been curious about Rakesh Jhunjhunwala net worth. We will cover all there is to know about Rakesh Jhunjhunwala net worth in this article.
Rakesh Jhunjhunwala’s Formative Years
On July 5, 1960, Rakesh Jhunjhunwala was born. Born into a Rajasthani family, he spent the majority of his early years in Mumbai. His last name suggests that the Jhunjhunu area of Rajasthan is where his ancestors were born.
The father of Rakesh Jhunjhunwala worked as an income tax commissioner. After receiving his degree from Sydenham College, he joined the Institute of Chartered Accountants of India.
Rakesh Jhunjhunwala Net Worth
Business tycoon Rakesh Jhunjhunwala was well-known for his aptitude for making profitable investments and his commercial acumen. With a fund of Rs. 5,000, he started investing in 1985 and made his first significant profit in 1986. Upon his passing, Rakesh Jhunjhunwala net worth was estimated to be $5.5 billion.
Here is an official tweet by ET NOW which confirms Rakesh Jhunjhunwala net worth.
— ET NOW (@ETNOWlive) August 14, 2022
Rakesh Jhunjhunwala was previously the subject of an insider trading investigation. The Security Exchange Board of India (SEBI) resolved the matter as of July 2021 following Jhunjhunwala and his accomplices’ complete payment of Rs. 37 crores:
Rakesh Jhunjhunwala and others paid Rs 37 crore to SEBI to settle the Aptech insider trading case. He doesn’t deserve it. https://t.co/qVvOUfeWWi
— Waheeda 🤭 (@WaheedaComrade) March 23, 2023
Investments Made By Rakesh Jhunjhunwala
Rakesh Jhunjhunwala net worth is estimated by the well-known website Money Control and before his demise he held 35 company holdings.
His principal holdings are in the following:-
- Construction and Contracting – 11%
- Miscellaneous- 9%
- Banks- Private Sector – 6%
- Finance- General- 6%
- Construction and Contracting Civil- 6%
- Pharmaceuticals- 6%
- Banks- Public Sector- 3%
Rakesh Jhunjhunwala’s Professional Life
Ever since he saw his father discussing the stock market with his friends, Jhunjhunwala developed an interest in it. Even though he gave him advice on the stock market, his father never gave him any money to invest in it.
Rakesh, however, did not stop there and shortly after he began attending college, he began investing in financial markets. He invested with his savings of 5,000 rupees in 1985, and today he has received an incredible return of INR 11,000 crores. Jhunjhunwala didn’t stop there, either. In addition, he was the honourable chairman and owner of Hungama Digital Media Entertainment Pvt Ltd. and Aptech Limited.
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Additionally, he served on the boards of numerous businesses, including Viceroy Hotels Limited, Tops Security Limited, Nagarjuna Construction Company Limited, Mid Day Multimedia Limited, Prime Focus Limited, Geojit Financial Services, Bilcare Limited, Praj Industries Limited, Provogue India Limited, Concord Biotech Limited, and Innovasynth Technologies (I) Limited.
In 1986, Rakesh Jhujjhunwala had his first profit. In comparison to now, it was a meagre profit of 5 lakh. He made over 25 lakh in profit from his investments between 1985 and 1989. As of right now, Titan Company represents its largest investment, totalling more than 7000 crore rupees.
His holdings also included numerous private businesses, such as Concord Biotech, Metro Bands, and Star Health Insurance. He was a member of India’s International Movement to Unite Nations (I.I.M.U.N.) in addition to his commercial connections.
To sum up, Jhunjhunwala ranked 36th among India’s richest men which ultimately increased Rakesh Jhunjhunwala net worth. He made contributions to the Agastya International Foundation, Arpan, an organization that helps educate kids against se*ual exploitation, and St Jude, which operates shelters for children suffering from cancer.
There have also been plenty of scandals and SEBI investigations involving Rakesh Jhunjhunwala. An insider trading scam included his name as well. However, it hasn’t been validated yet. This concludes our finding on Rakesh Jhunjhunwala net worth. Check out Digi Hind News, our page, for more information of this kind.