Rakesh Jhunjhunwala, often known as ‘Big Bull’ or “Indian Warren Buffett” was one of India’s biggest billionaire business magnates, stock traders, and investors along with being the Chairman of Hungama Media and Aptech. He also used to hold and sit on the Board of Directors of firms such as – Viceroy Hotels, Concord Biotech, Provogue India, and Geojit Financial Services. Rakesh Jhujhunwala had witnessed a long and bumpy road to success and we are here with a glimpse into his journey that will surely motivate you.
When Father Both Supported And Denied Him
Born on July 5th, 1960, Rakesh grew up in Mumbai where his father was posted as an Income Tax Officer. His interest in the stock market was instilled in him by his father as he used to talk to Rakesh about stocks, fluctuations in stock price and made him read newspapers. He then decided to pursue a career in the stock market.
After completing his graduation from Sydenham College in 1985, he moved on to get enrolled at the Institute of Chartered Accountants of India and after that, he proposed his desire to take the stock market as a career in front of his father. His father turned out to be very supportive of his choice, except he refused to help Rakesh with any kind of finances.
How He Coped With The Challenges And Emerged As A Diamond
He later borrowed Rs. 2.5 lakhs from his brother’s clients and promised to return the capital with higher returns compared with bank fixed deposits. Jhunjhunwala entered the world of the stock market when he was in college and after attaining the degree, he decided to plunge headlong into Dalal Street. He started his career in the stock market by investing Rs 5,000 as capital in 1985 and by the time of September 2018, that capital inflated to Rs 11,000 crore.
Jhunjhunwala was a risk-taker right from the start and in the next few years he gained his first big profit of Rs 0.5 million in 1986 when he bought nearly 5,000 shares of Tata Tea at just Rs 43 and the stock later rose to Rs 143 within three months. He earned over three-time profit. In three years the stocks rallied to 20-25 lakhs.
Jhunjhunwala’s Visionary Design Making
Rakesh was also the man behind his privately-owned stock trading firm called RARE Enterprises.
The name of the firm is derived from the initials of Rakesh and his wife Rekha Jhunjhunwala.
During his long successful career in the stock market, Jhunjhunwala invested in numerous notable companies. One of the prominent companies is Titan in which he reportedly held about 4.8% stock. Similarly, he had invested in CRISIL, Aurobindo Pharma, Praj Industries, NCC, Aptech Limited, Ion Exchange, MCX, Fortis Healthcare, Lupin, VIP Industries, Geojit Financial Services, Rallis India, Jubilant Life Sciences, etc.
Contribution To The Community
Being the Big Bull of the Indian stock market, Jhujhunwala indulged in philanthropic work like nutrition and education. He also planned to give away 25% of his overall wealth to charity by the year 2020.
Rakesh Jhunjhunwala had his fair share of contributions to the community as he contributed to St Jude, which runs shelters for cancer-affected children, Agastya International Foundation, and Arpan, an organization that helps in creating awareness among children on sexual exploitation.
He also contributed to the Ashoka University, Friends of Tribals Society, and Olympic Gold Quest.
What Drove The Big Bull Of India?
With being the Chairman of an Indian digital entertainment company namely Hungama digital media, he produced movies like Shamitabh, English-vinglish, and Ki and Ka.
Reaching upto such a high position in one of the most competitive markets of the world is not an easy task nor does it happen overnight. It was his leadership qualities and values that made him the biggest ‘Big Bull’.
Rakesh Jhunjhunwala never believed in comparison. He used to sit tight on his investments and never cared whether the stock he owned was going up or down.
He believed in thoroughly understanding the assignment. Mr Jhunjhunwala did his whole research before investing in a stock, and once he had done the homework, he used to invest in the company and sit on his investment for a really long time.
He had a sharp vision for the future and didn’t rush into things. He didn’t sell the stock just because it had risen 100% over a year unless there were serious challenges with the future growth of the company. During the crisis in airline stocks, SpiceJet lost 50% in value but he didn’t sell a single stock.
Rakesh Jhunjhunwala’s Death
Rakesh Jhunjhunwala passed away at the age of 62 on 14th August 2022 due to cardiac arrest. He was brought dead at Breach Candy Hospital at 6.45 am. His last rites were held on Sunday late in the evening in Mumbai.
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. My condolences to his family and admirers. Om Shanti. pic.twitter.com/DR2uIiiUb7
— Narendra Modi (@narendramodi) August 14, 2022
Overall, the success story of Rakesh Jhunjhunwala is something to get inspired by. His visionary and peak skills had gained him the title of ‘Big Bull of India’ and he surely came a long way with impeccable work in the investment world.