By CNBCTV18.com IST (Published)
Rakesh Jhunjhunwala started with Rs 5000 in 1985 and built a net worth of USD 4.9 billion as of 2022. He is a real inspiration for all stock market investors in India. As the ace investor celebrates his 62nd birthday on July 5, here are some lesser-known facts about India’s Big Bull.
Rakesh Jhunjhunwala, popularly known as the Big Bull of the Indian stock market, celebrates his 62nd birthday on July 5. He was born in a middle-class family and was oriented with a finance background with an inclination toward the stock market.
He started trading when he was in college in 1985 with a meagre capital of Rs 5,000. He has since built a net worth of USD 4.9 billion as of 2022, according to Forbes.
He is a real inspiration for all stock market investors in India. Here are some lesser-known facts about Rakesh Jhunjhunwala:
1. His father refused to give him money for trading
Jhunjhunwala’s interest in the stock market developed after listening to a conversation between his friends. While his father Radheshyam Jhunjhunwala allowed him to dabble in the stock market, he refused to give him any financial aid. Being a risk-taker, Jhunjhunwala borrowed money from his brother’s clients with a promise to return the capital with higher returns.
He earned his first big profit in 1986 when he bought 5,000 shares of Tata Tea at Rs 43 which rose to Rs 143 within three months earning him a 3x profit.
2. He has great enthusiasm for Bollywood
Rakesh Jhunjhunwala has produced three Bollywood movies — English Vinglish, Shamitabh’, and ‘Ki & Ka’. Moreover, he started Hungama Digital Media with four other partners in 1999 which was later renamed Hungama Digital Media Entertainment Pvt. Ltd. He is currently the chairman of the company.
3. He loves food
Jhunjhunwala is a big foodie. He 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.
4. He is the king of dividends
Jhunjhunwala’s portfolio is filled with stocks that earn him dividend returns in crores. He holds a substantial number of stocks of companies like Titan and Crisil that pay out huge dividends.
5. He decided to donate 25 percent of his portfolio or Rs 5000 crore whichever is less on his previous birthday
Rakesh Jhunjhunwala made a donation of Rs 50 crore last year in July and topped the new entrant’s list of ‘Edelgive Hurun India Philanthropy list’ 2021.
(Edited by : Sudarsanan Mani)