homeindia NewsRakesh Jhunjhunwala: 5 lesser known facts about the ace investor

Rakesh Jhunjhunwala: 5 lesser-known facts about the ace investor

Rakesh Jhunjhunwala: 5 lesser-known facts about the ace investor
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By CNBCTV18.COMAug 14, 2022 12:10:59 PM IST (Updated)

Rakesh Jhunjhunwala died on Sunday morning in Mumbai. He turned 62 in July. Read to know how more about the ace investor who started with Rs 5,000 in 1985 and built a net worth of $5 billion as of 2022.

Rakesh Jhunjhunwala, known as the Big Bull of the Indian stock market, passed away on Sunday morning aged 62, in Mumbai. Breach Candy hospital, where he was taken to, told CNBC-TV18 he was suffering from kidney disease and ischemic heart disease and died due to cardiac arrest.

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Jhunjhunwala turned 62 on July 5. Born in a middle-class family, he had an inclination toward the stock market from an early age. He started trading when he was in college in 1985 with a sum of Rs 5,000. Since then, he has built around $5 billion net worth.

Here are some lesser-known facts about Rakesh Jhunjhunwala:

1. Father refused to give him money for trading

He got interested in the stock market after listening to a conversation between his friends. But though his father, Radheshyam Jhunjhunwala, allowed him to dabble in the stock market, he refused to offer money. Jhunjhunwala borrowed money from his brother’s clients with a promise of higher returns. He earned his first big profit in 1986 when he bought 5,000 shares of Tata Tea at Rs 43. This rose to Rs 143 within three months, earning him a 3x profit.

2. King of dividends

Jhunjhunwala’s portfolio is filled with stocks that earn him dividend returns in crores. He holds many stocks of companies like Titan and Crisil that pay out huge dividends.

3. Big on donations
Rakesh Jhunjhunwala donated Rs 50 crore last year in July and topped the new entrant’s list of ‘Edelgive Hurun India Philanthropy list’ 2021. He had decided to donate 25 percent of his portfolio or Rs 5,000 crore, whichever is less.
4. He is a foodie

Jhunjhunwala loves street food, dosa, and especially Chinese cuisine. However, being a Mumbaikar at heart, he loves pav bhaji. He also enjoys watching food shows in his free time.

5. His love for Bollywood

Rakesh Jhunjhunwala has produced three Bollywood movies —  English Vinglish, Shamitabh, and Ki & Ka. He also started Hungama Digital Media with four other partners in 1999. This was later renamed Hungama Digital Media Entertainment Pvt. Ltd. He is currently the company's chairman.

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