Be A Patron
Be A Patron
HomeNationIndia's 'Warren Buffett' Rakesh Jhunjhunwala dies at 62
NationTop NewsTrending

India’s ‘Warren Buffett’ Rakesh Jhunjhunwala dies at 62

PTI NEWS
By PTI NEWS

@the_news_21

Ace stock market investor Rakesh Jhunjhunwala, often referred to as India’s Warren Buffett, died here Sunday morning.

He was 62.

Jhunjhunwala died early this morning due to a cardiac arrest, a source in his newly set up airline said.

A self-made trader, investor and businessman, he was also known as the ‘Big Bull’ of Dalal Street. With an estimated net worth of around USD 5.8 billion (about Rs 46,000 crore), Jhunjhunwala was the 36th richest billionaire in India, according to Forbes’ 2021 listing.

Son of an income tax officer, he is survived by his wife and three children.

A chartered accountant by education, he had not been keeping well for the last few months because of a kidney ailment. He was seen on a wheelchair at recent public events.

Starting off his journey in stock markets while still in college with a capital of just Rs 5,000, he recently teamed up with ex-Jet Airways CEO Vinay Dube and former IndiGo head Aditya Ghosh to launch Akasa Air — India’s newest budget carrier. The airline began commercial operations this month with its maiden flight from Mumbai to Ahmedabad.

He began investing with Rs 5,000 in 1985 when the Bombay Stock Exchange’s benchmark index Sensex was at 150; it now trades at over 59,000.

He had investments in more than three dozen companies, the most valuable being watch and jewellery maker Titan, part of the Tata conglomerate. His portfolio included companies like Star Health, Rallis India, Escorts, Canara Bank, Indian Hotels Company, Agro Tech Foods, Nazara Technologies and Tata Motors.

He was also the chairman of Hungama Media and Aptech and sat on the board of directors of firms such as Viceroy Hotels, Concord Biotech, Provogue India and Geojit Financial Services.

His 5.05 per cent holding in Titan alone is worth over Rs 11,000 crore. His largest holding is in Aptech Ltd (23.37 per cent), followed by Star Health and Allied Insurance Co Ltd (17.49 per cent), Metro Brands (14.43 per cent), NCC Ltd (2.62 per cent) and Nazara Technologies Ltd (10.03 per cent).

Born on July 5, 1960 in a Rajasthani family, Jhunjhunwala grew up in Bombay, where his father worked as a Commissioner of Income Tax. He graduated from Sydenham College and thereafter enrolled at the Institute of Chartered Accountants of India.

He earned his first big profit in 1986 when he bought 5,000 shares of Tata Tea at Rs 43 and the stock rose to Rs 143 within three months. In three years, he earned Rs 20-25 lakh.

His privately-owned stock trading firm Rare Enterprises derived its name from the first two letters of his name and that of his wife Rekha, who is also a stock market investor.

Prime Minister Narendra Modi, who met Jhunjhunwala and his wife last year, described him as indomitable, full of life, witty and insightful.

“He leaves behind an indelible contribution to the financial world. He was also very passionate about India’s progress. His passing away is saddening. My condolences to his family and admirers. Om Shanti,” Modi tweeted.

PTI NEWS
PTI NEWS
Previous article
Azadi Ka Amrit Mahotsav celebrated at government high school, Muqam-e-Shahwali, Durgmulla
Next article
India records 14,092 new coronavirus infections in a single day

RELATED ARTICLES

41 COMMENTS

  35. Die Architektur entstammt der Belle Epoque und die Spieltische befinden sich in luxuriöser Umgebung von Kronleuchtern und Kristallglas. Das Casino de Monte-Carlo ist die Vorzeige-Spielbank Monacos, vielleicht sogar ganz Europas. In der Neuzeit haben die Betreiber die Monaco Casinos aber immer wieder zwischen Tradition und Innovation neu erfunden. Der Place du Casino vor dem Monte-Carlo Casino gilt als legendäre Mitte des Stadtstaates und Wahrzeichen des traditionellen Glücksspielluxus.
    Und dann ist da noch das Café de la Rotonde, eines der versteckten Juwelen des Casinos, wo man sich entspannen und eine Auszeit nehmen kann. Die Lounge-Bar Le Bar Salle Blanche ist etwas, das man aus einer Filmszene um die Jahrhundertwende erwarten würde. Der Komplex umfasst die Opéra de Monte-Carlo und Les Ballets de Monte-Carlo, letztere wurde bei einer Erweiterung in den 1910er Jahren gebaut. Die Pracht der Belle-Époque-Säle, Marmorsäulen, Goldakzente und prächtigen Kronleuchter hat einen echten Charme der alten Welt, dem man sich nicht entziehen kann. Die Spielstätte wurde von Charles Garnier entworfen, der auch die Pariser Oper entwarf.

    References:
    https://online-spielhallen.de/n1-casino-erfahrungen-ein-umfassender-testbericht-aus-spielersicht/

  36. The entire resort, including gaming areas and hotels, is under constant surveillance by state-of-the-art camera systems, supported by trained security staff 24/7. Earn and redeem points across gaming, hotels, restaurants, and more — online and on-site. Discover the premier casino and resort complex in Perth — home to gaming, fine dining, theatre shows, luxury hotels, and spa retreats all in one destination. Yes, the Crown Rewards program allows you to earn points on every dollar spent across the resort — from gaming to dining, hotel stays, shopping, and entertainment. Located just steps away from the hotels, casino, and dining venues, Crown Perth’s shopping promenade combines elegance and convenience. From handmade dim sum to exquisite seafood creations, Silks is perfect for refined palates seeking authenticity and elegance.
    Central urban nest with pool gym pool free parking The Crown Metropol is a first-class luxury hotel providing panoramic views of the city. Featuring opulent suites, private infinity pools, high-end furnishings, and panoramic views of the Swan River or city skyline, it’s the top choice for celebrities and VIPs.
    Located within the vibrant Crown Perth complex, Crown Metropol puts you right next to the city’s best casino games, fine dining venues, live shows, and shopping options. The hotel also includes a high-performance fitness studio and family-friendly amenities. Crown Metropol guests have full access to a large indoor pool and the spectacular resort-style outdoor pool with relaxing lounge zones and shaded cabanas. Crown Towers Perth is home to the renowned Crown Spa, where guests can indulge in luxurious treatments, steam rooms, vitality pools, and private therapy suites. The hotel offers an exceptional collection of rooms and suites designed with meticulous attention to detail.

    References:
    https://blackcoin.co/classicbig4-casino-holiday-park-in-depth-review/

  37. We’re not saying to bet pennies on your favourite games, but don’t spend all your cash in one place (or on a single spin). While they have lower transaction limits than other fiat payment options, they provide an additional layer of security, like Inclave casinos. Instead of entering your bank details, you can provide the PayID casino with your unique identifier to make deposits and receive payouts in just a few minutes. As a result, it stands as the most popular payment method at Australia’s fast withdrawal casinos. Start with basic crash games that focus solely on timing the cashout, before trying variants with added features or side bets. Crash games put you in the driver’s seat as you place bets on a rapidly growing multiplier.
    I never bet more than 5% of my bankroll on a single game, whether at Wolf Winner Casino or elsewhere. If a casino hides its licensing info or has sketchy reviews, steer clear. Look for seals from eCOGRA or iTech Labs, which certify fair gaming. Getting money in and out quickly and safely is non-negotiable. Dealers are professional, and you can chat with them in real-time. Jet4Bet Casino’s touch-friendly interface made betting on sports or spinning pokies a breeze.

    References:
    https://blackcoin.co/roulette-tutorial/

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read

spot_img

TheNews21 is India’s independent digital news and investigative platform founded by senior journalist Vivek Bhavsar. From our Mumbai newsroom, we expose corruption, analyse political power, track governance and public policy, and report on issues that directly impact citizens. Alongside investigations, we bring credible coverage of national politics, economy, foreign affairs, business, crime, and civic matters. Our journalism stands firmly on the principles of independence, accuracy, and public interest — No Fear, No Favour.

Quick Links

Popular Articles

Taiwan Seeks ‘Meaningful Dialogue’ With China

SC stays production warrant issued against comedian Munawar Faruqui in case lodged in UP for allegedly hurting religious sentiments

Facebook removes nearly 200 accounts linked to white supremacy groups

Plus 2 lecturers forum meets Principal Secretary Education over New Education policy and other issues

Maharashtra: Man sets himself ablaze outside Vidhan Bhavan in Mumbai

Maharashtra: 1 killed, 8 injured in clash between two groups in Akola; 26 people detained

Ad