India is home to numerous billionaires who have made investments in numerous businesses. Additionally, they own shares in major corporations such as RIL, Tata Group, and others. On the other hand, they lose money when these companies' stocks decline for a variety of reasons. The late Rakesh Jhunjhunwala's wife, billionaire Rekha Jhunjhunwala, is one such individual who lost more than Rs 800 crore.
Following Monday's nearly 5% decline in Titan Company shares, which are owned by the Tata Group, the 60-year-old lost more than Rs 800 crore in a matter of minutes. As of March 31, 2024, Rekha owned a 5.35 percent share in the Tata Group company. Titan's stock fell 7% (or Rs 249.90) when the company's March quarter earnings fell short of investors' expectations. With a market valuation of Rs 2.91 lakh crore, the Titan share closed at Rs 3,284 on the National Stock Exchange (NSE) on May 6.
Rekha is an investor in a number of businesses, including Titan, a manufacturer of jewellery and watches. The notional investment value of Jhunjhunwala has decreased by Rs 805 crore to Rs 15,986 crore. However, according to the Forbes Billionaire List 2024, Rekha is the second-richest woman in India. As of May 6, Forbes estimates her current net worth to be Rs 67640 crore. Her late husband left her a sizable stock portfolio. Rekha is a graduate of Mumbai University with a Bachelor of Commerce.
According to Moneycontrol, Rekha Jhunjhunwala recently reportedly paid Rs 118 crore for the majority of the units in a Mumbai building, ensuring her unobstructed view of the Arabian Sea from her Malabar Hill home. Jhunjhunwala's RARE Villa residence is located directly behind the seafront Rockside CHS, which was slated for renovation. A cluster scheme was to redevelop Walkeshwar's Rockside and six other buildings. Well-known developer Shapoorji Pallonji had completed a business plan that would have given every homeowner an extra 50% of carpet in the remodelled space.
