The Top Trader in India

I am bit surprised to inform you all that even after the demise of Mr. Rakesh Jhunjhunwala, the stock tycoon of Indian stock markets still hails to be India’s No 1 trader, why?

Here are some interesting facts. 

Early Days of Rakesh Jhunjhunwala: 

Rakesh Jhunjhunwala, born on 5 July 1960, a chartered Accountant by profession, took up stock trading and became the leading investor, referred to as ‘Warren Buffet of the Indian Stock Markets.’ 

In Indian context, Mr. Rakesh is agreed upon as the number one stock trader and even after his death, the Internet searches place him on the top. 

In 1985, Rakesh Jhunjhunwala, began to make an investment with a capital of ₹5,000 and made a good profit in 1986. 

Rose, became the 438 richest man in the world, it is estimated that his net worth is US$5.8 billion and before his death, he held an asset management firm named Rare Enterprises.    

His Contribution Inside/Outside the stock trading Markets:

Well-known for stock market predictions, and through the trading sessions, Mr. Rakesh did maintain a bullish outlook, often called the ‘Big Bull of India.’

Served as Chairperson/Director for several companies and is the founder of Akasa Air, airlines company, in which Mr. Rakesh made an initial investment.  

Controversy:

Mr. Rakesh was said to have participated in internal trading, charges laid by SEBI, for which he paid a settlement amount of Rs 36 crores and his wife paid an amount of Rs 2 crores. 

Financial Achievements:

In 1985, Mr. Rakesh made an investment of INR 5000.00 and made steady progress year on year.

From 1986 to 1989, he earned a profit of ₹25 lakh, and his investments rose by ₹11,000 crores by 2022.  

Mr. Rakesh invested ₹7,294.8 crore worth in Titan, a subsidiary of TATA group.

He is a partner in Rare Enterprises, an asset management firm, in which he owns a portfolio.  

In July 2021, Mr. Rakesh became a major stakeholder of 40% in Akasa Air, a low-cost airline in India.

He further expanded his stake in Akasa Air by 6%, thereby becoming the largest stakeholder in the company. 

Corporate Advisor: 

Mr.Rakesh became a member in board of directors for several companies and to list them: Geojit Financial Services, Praj Industries, Concord, Biotech, Innovasynth Technologies (I) limited, Mid day Multimedia Limited, Nagarjuna Construction Company.

In addition, Tops Security Limited, Viceroy Hotels, Aptech & Hungama Digital Media Entertainment. 

He held the post of a member, in the board of Advisors of India’s International Movement to the United Nations (I.I.M.U.N.)

Personal Assets:

In 2013, 

Standard Chartered Bank sold to Mr. Jhunjhunwala, 6 units of the Ridgeway Apartments to Mr. Rakesh for ₹176 crore that is located in Malabar Hills in 2013. 

In 2017,

He purchased the remaining 6 units of the Ridgeway apartments from HSBC for ₹ 195 crore.

In 2021,

Mr. Jhunjunwala began to construct his dream home, a 13-storey that occupies 70,000 sqft, after the demolition of the Ridgeway apartments. 

Philanthropy:

Mr. Rakesh Jhunjunwala concentrated in Philanthropic activities in the sphere of healthcare, education, etc. 

He provides support to the following NGOs, and they are Friends of Tribals Society and Olympic Gold Quest, Agastya International Foundation, St Jude, Ashoka University. 

He took an active participation to raise an eye hospital, R J Sankara Eye Hospital in New Panvel.