Rakesh Jhunjhunwala (राकेश झुनझुनवाला) was a billionaire Indian businessman, stock trader, and investor. As a partner in his asset management firm, Rare Enterprises, he managed his own portfolio. Rakesh Jhunjhunwala, a well-known stock market investor, died this morning in a Mumbai hospital. He was 62. Mr. Rakesh was also a co-founder of Akasa Air, India’s newest airline, which started operations last week. He was survived by his wife Rekha and three children. Come down to learn more about Rakesh Jhunjhunwala wife, son, family, death, and other details:
Who is Rakesh Jhunjhunwala wife Rekha Jhunjunwala? After his death, all of his money went to his wife and children?
At the time of his death, legendary broker-investor and creator of recently formed Akasa Air was happily married. Rakesh Jhunjhunwala wife Rekha Jhunjunwala was his only love. Rekha Jhunjunwala, like the late billionaire, is a stock market investor. Parts of their names combined to form the name of Rakesh Jhunjhunwala’s stock brokerage firm, RaRe Enterprises, which he founded in 1992. राकेश झुनझुनवाला पत्नी रेखा झुनझुनवाला was born in 1963 and currently is a 59 years old gorgeous lady. She is the daughter of Purushotam Premraj Gupta (पुरुषोत्तम प्रेमराज गुप्ता).
The former billionaire business magnate Rakesh and Rekha married on 22 February 1987. It was their arrange marriage. At the time of Rakesh’s death, the pair had been married for 35 years.On OCTOBER 18, 2020, he tweeted a photo of himself with his wife Rekha with the caption:
The best thing to hold onto in life is each other
The couple has persevered through every storm and difficulty that life has thrown their way, and their love has remained strong and loving. He also appears to be a trustworthy and devoted person, with no extramarital affairs, gossip, or scandal in his personal life.
The couple has three children: His daughter Nishtha Jhunjhunwala was born in 2004 after six cycles of IVF. In 2009, he welcomed twin sons Aryaman and Aryaveer Jhunjhunwala. His entire wealth passed to his wife Rekha and their children.
Former billionaire stock trader Rakesh Jhunjhunwala net worth: How much he earned from his entire career?
Rakesh Jhunjhunwala net worth (राकेश झुनझुनवाला नेट वर्थ) at the time of his death may surprise you. As an Indian billionaire business entrepreneur, stock trader, and investor, he has amassed tremendous reputation and fortune. As a partner in his asset management firm, Rare Enterprise, he managed his own portfolio. Rakesh Jhunjhunwala net worth of $5.8 Billion (₹3,617,690,061.06), ranking him 36th among Indian billionaires. Rakesh Jhunjhunwala and former Jet Airways CEO Vinay Dubey co-founded Akasa Air, an Indian airline. As of August 9, 2022, the airline has two planes and an order for 70 more. It serves three cities.
Rakesh Jhunjhunwala was dubbed “India’s Warren Buffett” because he was generally optimistic about the country’s stock market. He entered the aviation sector at a time when it was suffering massive losses because to the Covid-19 outbreak.
Jhunjhunwala purchased 6 of the 12 units of Ridgeway apartments on Malabar Hill from Standard Chartered bank in 2013 for Rs 176 crore. Later that year, he paid Rs 195 crore to HSBC bank for the remaining six units in the building. After demolishing the previous structure, he began work on his new 70,000 square foot 13-story residence in 2021.
Rakesh had worked hard his entire life to make a name for himself, and we assume that his efforts had paid off.
How did he become a billionaire?
Jhunjhunwala became interested in stock markets after observing his father discussing them with his friends. While his father advised him on the markets, he never offered him money to invest and prohibited him from borrowing money from friends. Rakesh began investing while still in college with his funds. His investment has risen from 5,000 rupees in 1985 to 11,000 crores presently.
Jhunjhunwala served on the boards of Prime Focus Limited, Geojit Financial Services, Bilcare Limited, Praj Industries Limited, Provogue India Limited, Concord Biotech Limited, Innovassynth Technologies (I) Limited, Mid Day Multimedia Limited, Nagarjuna Construction Company Limited, Viceroy Hotels Limited, and Tops Security Limited in addition to being an active investor. He was highly known for his stock market predictions and bullish outlooks, and was dubbed the “Big Bull of India” and the “King of Bull Market.”
Rakesh Jhunjhunwala’s first large profit was 5 lakh in 1986. He made over 20-25 lakh profit between 1986 and 1989.
His largest investment as of 2021 was in Titan Company, which was worth 7,294.8 crore.
He was a member of India’s International Movement to the United Nations’ Board of Advisors (I.I.M.U.N.).
Rakesh Jhunjhunwala biography: Parents, Early life, Parents, Nationality, Education
He was born in Hyderabad, Telangana, India on July 5, 1960. Rakesh, a well-known stock market investor, died at the age of 62. His parents were Radheshyamji(राधेश्याम जी), an Income Tax Officer, and Urmila Jhunjhunwala(उर्मिला झुनझुनवाला), a housewife. Rajesh, Rakesh’s elder brother, is a Chartered Accountant. Sudha Gupta and Neena Sanganeria are his two sisters. Jhunjhunwala grew up in Bombay in a Rajasthani household, where his father worked as an Income Tax Commissioner. His surname implies that his ancestors were from the Rajasthan town of Jhunjhunu.
He attended Sydenham College before enrolling in the Institute of Chartered Accountants of India.
Cause of death: How did he die?
Rakesh Jhunjhunwala death cause: Mr. Rakesh cause of death is kidney failure and acute multiple organ failure., according to the medical experts. Mr. Jhunjhunwala who was a stockbroker and billionaire investor, died early Sunday morning in Mumbai.
Rakesh experienced some health concerns on August 14, 2022, and was transported to Breach Candy Hospital in Mumbai. He died later that morning, about 6:30 a.m. He also had kidney difficulties and acute multiple organ failure, according to doctors.
Upon hearing the news about Rakesh Jhunjhunwala death, PM Narendra Modi, family, businessman, Akasa Air rushed to Twitter to offer their condolences. Along with his family, friends Rakesh Jhunjhunwala Tributes:
Prime Minister Narendra Modi expressed his sorrow at the demise of Jhunjhunwala. “Rakesh Jhunjhunwala was 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,” he tweeted.
Rakesh Jhunjhunwala was 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. pic.twitter.com/DR2uIiiUb7— Narendra Modi (@narendramodi) August 14, 2022