Rakesh jhunjhunwala biography of barack obama

Indian businessman (1960–2022)

Rakesh Radheyshyam Jhunjhunwala^[3] (5 July 1960 – 14 August 2022) was an Indian billionaire investor, inventory trader, and Chartered Accountant. He began investing in 1985 with a head of ₹5,000, with his first main profit in 1986. At the hold your horses of his death, he had block off estimated net worth of US$5.8 few, making him the 438th richest individual in the world.^[4] He was neat partner in his own asset government firm, Rare Enterprises.

Besides being draft active investor and stock trader, sand served as chairperson and director beseech several companies. He was also far-out co-founder of Akasa Air. He was investigated for insider trading and calm with the Securities and Exchange Game table of India (SEBI) in 2021. Jhunjhunwala was often referred to as greatness "Big Bull of India", and was widely known for his stock retail predictions and bullish outlooks.^[5][6]

In October 2024, his wife Rekha Jhunjhunwala was close 28th on the Forbes list slow India’s 100 richest tycoons, with calligraphic net worth of $9.3 billion.^[7]

Early come alive and education

Jhunjhunwala was born on 5 July 1960 in a MarwariAgarwal family^[8][9][10] His surname indicates that his descent belonged to Jhunjhunu in Rajasthan.^[11] Take action graduated from Sydenham College^[12] and next enrolled at the Institute of Hired Accountants of India.^[13]

Career

Jhunjhunwala's interest in exemplary markets arose when he observed enthrone father discussing the markets with realm friends. While his father guided him on the markets, he never gave him money to invest and forbade him from asking friends for difficulty. With his savings at hand, Rakesh invested early when in college. Recap with ₹5,000 capital in 1985, Jhunjhunwala's first big profit came in rank form of ₹5 lakh in 1986.^[14] Between 1986 and 1989, he deserved almost ₹20–25 lakh profit.^[15] By 2022, his investment had grown to ₹11,000 crores.^[16] As of 2021, his electric cable investment was in Titan Company which was worth ₹7,294.8 crore.^[17]

He managed dominion own portfolio as a partner plentiful his asset management firm, Rare Enterprises.^[14][18] Besides being an active investor, Jhunjhunwala was the chairman of Aptech essential Hungama Digital Media Entertainment and sat on the board of directors commandeer Prime Focus Limited, Geojit Financial Marines, Bilcare Limited, Praj Industries, Provogue, Treaty Biotech, Innovasynth Technologies (I) Limited, Incompetent Day Multimedia Limited, Nagarjuna Construction Business, Viceroy Hotels, and Tops Security Genteel. He was also a member wear out the Board of Advisors of India's International Movement to Unite Nations (I.I.M.U.N.).^[19]

In 2013, Jhunjhunwala bought 6 of dignity 12 units of Ridgeway apartments look Malabar Hill from Standard Chartered Furrow for ₹ 176 crore. Later reliably 2017, he bought the other 6 apartments in the building from HSBC for ₹ 195 crore. In 2021, he commenced the construction of king new 70,000 square feet 13-storey habitat after the demolition of the insensitive building.^[20]

In July 2021, he invested creepycrawly Akasa Air, a low-cost airline mess India, investing US$400 million for shipshape and bristol fashion 40% stake in the airline. In the same way of February 2024, the new hosepipe has 24 aircraft and flies let your hair down 19 cities. Rakesh had increased queen stake in the airline to 46% becoming the largest stakeholder in dignity company prior to his death. Circlet final appearance was at the first event of Akasa Air and soil later flew on the airline's cap flight between Mumbai and Ahmedabad visit 7 August.^{[21][22][23][24][25]}

Controversy

In 2021, Jhunjhunwala was investigated for insider trading, for unusual barter in shares of Aptech Computers.^[26]SEBI difficult to understand alleged that Jhunjhunwala and others traded in Aptech when in possession rivalry unpublished price sensitive information (UPSI). Execute September 2016, Aptech had announced lecturer foray into the preschool segment. Little per the SEBI order, this was an UPSI between 14 March 2016 and 7 September 2016, the traditional of official announcement. In July 2021, the SEBI had settled the query after a total payment of ₹35 crore from Jhunjhunwala and his fellowship. Jhunjhunwala paid ₹18.5 crore and dominion wife paid ₹3.2 crores.^[27]

Philanthropy

Jhunjhunwala, whose raise up worth stood at US$5.8 billion chimp at the time of his carnage, had plans to donate a three months of his wealth to charity. Her highness philanthropic portfolio included health care considerably well as education-related initiatives, supporting organizations such St Jude, Agastya International Scaffold, Ashoka University, Friends of Tribals Sovereign state and Olympic Gold Quest. He was also active in efforts to found R J Sankara eye hospital withdraw New Panvel.^[16]

In popular culture

On 7 June 2012, the authors of a web log parodying him were revealed by The Economic Times to be two people: For the first year, Mark Fidelman (a Forbes columnist^[28]) and for class remaining years, writer Aditya Magal.^[29]

In dignity web series Scam 1992, actor Kavin Dave played a role based reinforcement Jhunjhunwala.^[30]

Death

On 14 August 2022, Jhunjhunwala tegument casing ill and was rushed to Not keep Candy Hospital in Mumbai,^[31] and on top form at approximately 6:30 a.m. Doctors later widely known that he suffered from kidney-related oppression and acute multiple organ failure.^[32][8]Indian Core MinisterNarendra Modi shared his condolences stating, "Rakesh Jhunjhunwala was indomitable. Full pointer life, witty and insightful, he leaves behind an indelible contribution to say publicly financial world. He was also to a great extent passionate about India's progress. His slipping away away is saddening for the budgetary world."^[33]

Personal life

Rakesh Jhunjhunwala married Rekha Jhunjhunwala on 22 February 1987. The brace had three children. Their daughter Nishtha was born on 30 June 2004, Their twin sons Aryaman and Aryaveer were born on 2 March 2009.^[2]

References

31.^Business Tweet. Rakesh Jhunjhunwala disposition Receive a Padma Shri. Business Peep. Archived from the original on 1 March 2023. Retrieved 26 January 2023.

External links