Rakesh Jhunjhunwala is one of India’s most successful stock market investor. He was born on 5th July 1960 in Mumbai and his father was an Income Tax Officer. From childhood, he had an inclination towards stocks and hence, he decided to pursue a career in the stock market. In the year 1985, he completed his Charted Accountancy from Sydenham College and entered the world of the stock market with just Rs.5000 in his pocket.
Over a period of time, Rakesh borrowed Rs.2.5 Lakh from one of his brother’s client and promised to pay back with higher returns. In the year 1986, he made his first big profit of Rs.5 Lakhs. Soon, Rakesh bought 5000 shares of Tata Tea and within three months he sold those shares at a profit of more than 3 times. During 1986-89, Rakesh Jhunjhunwala made a profit of nearly Rs.22-25 Lakhs.
He bought shares worth Rs.1 crore in ‘SeSa Goa’ in forward trading and the prices of the shares went from Rs.65/share to Rs.175/share and finally to Rs.2200/share which helped him raise his net worth to nearly Rs.2.5 crores.
Rakesh owns a private stock trading firm called ‘RaRe Enterprises’. His next big investment came in 2002-03 when he bought 6 crore shares of ‘Titan Company Limited’ at Rs.3/share and whose current rice is nearly Rs.816/share. Currently, he owns nearly 8.45% shares in the company, that equals almost 7.5 crore shares. There are stocks in his portfolio that made the humungous amount of money for him, which includes shares of Lupin (Bought at Rs.150, now at 1100) and Crisil (Bought at Rs.200 and now at 1800).
Rakesh is famous by the name ‘Warren Buffet of India’ and ‘Big Bull’. As per Forbes 2018 reports, the net worth of Rakesh Jhunjhunwala is estimated at more than $3 Billion and he is the board of directors list of several big organizations such as BNP Paribas financial services, Concord Biotech, Prime Focus Limited, Praj Industries and many more. When he entered into the stock market, the Sensex was at 150 points and today it is around 17500 points and this has helped him in reaching $3 Billion from Rs.5000.