Rakesh Jhunjhunwala, the Indian business magnate, stock trader and investor passed away at the age on 62. Jhunjhunwala managed his own portfolio as a partner in his asset management firm, Rare Enterprises. The business tycoon grew up in a Rajasthani family, in Bombay, where his father worked as a Commissioner of Income Tax.
Popularly referred to as the "Big Bull of India" and the "King of Bull Market", Jhunjhunwala is widely known for his stock market predictions and bullish outlooks. He is also called the Warren Buffett of India.
Jhunjhunwala graduated from Sydenham College and thereafter enrolled at the Institute of Chartered Accountants of India. Rakesh Jhunjhunwala, the 48th richest man in the country had an estimated net worth of approximately USD 5.5 Billion.
Besides being an active investor Jhunjhunwala was the chairman of Aptech Limited and Hungama Digital Media Entertainment Pvt. Ltd. and sits 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.
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Jhunjhunwala was a member of the Board of Advisors of India's International Movement to Unite Nations (IIMUN).
Rakesh Jhunjhunwala also co-founded Akasa Airlines along with former Jet Airways CEO Vinay Dubey.
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.
He started the construction of In 2021 he started the construction of his new 70000 square feet 13-storey home after the demolition of the old building.
Read: Rakesh Jhunjhunwala, ace investor and one of India's richest people, dies at 62
