Rakesh Jhunjhunwala ... It would be easier for everyone to say 'Warren Buffett of India' than to say his name.According to Forbes, his net worth is $ 4.6 billion. As of June, he had 38 shares in his portfolio. He has also invested in companies not listed on the stock exchange.
CA Graduate:
CA graduated from a college in Mumbai. His father is an income tax officer. As Dad and his friends continue to talk about the stock market, curiosity about the stock market is born. Born in 1960, he began investing in the stock market in 1985. He started investing at Rs.5000. Initially Tata Tea is investing in equities. In three months this share will increase about 3 times. Following this he invests in several stocks. He has made a profit of about Rs 20 lakh in the next three years. The bulk of this profit came from the share of 'Sesa Goa'.Following this, Rakesh started investing heavily in various stocks. He has invested heavily in equities including Aurobindo Pharma, Brage Industries and Titan Chrysler.
His wife is Rekha Jhunjhunwala. He started a company called 'RaRe' Enterprises with his name and wife's name and also invested in companies through this company.If Rakesh invests in the day, investors will follow him. Nazaria Technologies' IPO was released in March. Rakesh had invested in the company in 2018 and owned 10 per cent stake. Rakesh made almost three times the profit in just three years.During the April-June quarter last year, SAIL invested a significant amount in Indiabulls Housing Finance and Canara Bank. This, too, became the talk of the town.
Social Contribution:
Rakesh sets aside 25 per cent of his annual income for the community. He also said that this amount will be spent on social development in India. "I would rather ask God to give me the power to give more money to others than to ask for more money," Rakesh said. He has earmarked $ 75 lakh for an eye hospital in Mumbai and $ 1.7 crore for Asoka University for various projects. "At least $ 75 million in my lifetime should be spent on community development," he said.
Akasa: Rakesh Jhunjhunwala cannot be seen only as an investor. He is the Chairman of the Board of Directors of companies including Aptech and Hungama. In addition he is on the board of directors of several companies. He is currently the majority investor in an airline called Akasa.
Rakesh owns 40 per cent stake in the company. It will be the most affordable airline. The company is expected to start operations in April next year. Many key executives in the aviation industry are on the Internet. Vinay Dube, former CEO of Jet Airways, is the founder and CEO of the company. Apart from this many important officials of the aviation sector are online.So far the aviation sector has remained a challenging sector. No company has ever had lasting success. Here is a list of companies that have failed rather than companies that have succeeded.
The market expectation is what Junjunwala’s Midas Touch will look like in the aviation industry.
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