The Success Story of Rakesh Jhunjhunwala: India's Warren Buffett
Rakesh Jhunjhunwala is one of the most successful investors in India. Born on July 5, 1960, in Mumbai, he is often referred to as the "Warren Buffett of India." He started his career as a stockbroker in 1985, and over the years, he has amassed a fortune by investing in the stock market.
Early Life and Education
Rakesh Jhunjhunwala was born into a Marwari family in Mumbai, India. His father was an income tax officer, and his mother was a housewife. He completed his schooling from Bhulabhai Desai Road School in Mumbai and then went on to study Commerce at Sydenham College. After completing his graduation, he went on to pursue a Chartered Accountancy course but dropped out midway to pursue his career in the stock market.
Rakesh Jhunjhunwala started his career as a stockbroker in 1985, and his first big break came in 1986 when he bought 5,000 shares of Tata Tea at a price of Rs 43 per share. Within three months, the price of Tata Tea's shares had increased to Rs 143, and Jhunjhunwala made a profit of Rs 5 lakhs. This was the turning point of his career, and he went on to become one of the most successful investors in India.
Over the years, Jhunjhunwala has invested in a number of successful companies, including Titan, Lupin, CRISIL, and many more. He is known for his long-term investment strategy and has a knack for identifying companies with strong growth potential.
Rakesh Jhunjhunwala is married to Rekha Jhunjhunwala, and they have three children together. He is known for his love for luxury cars and is often seen driving around in his Bentley. He is also a philanthropist and has donated generously to various charitable causes over the years.
Rakesh Jhunjhunwala's success story is an inspiration to many. He started with very little and went on to become one of the most successful investors in India. His long-term investment strategy and his ability to identify companies with strong growth potential have made him a household name in the Indian stock market. With his wealth of knowledge and experience, he continues to be a role model for investors and aspiring entrepreneurs.