Rakesh Jhunjhunwala

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Partha Sinha, August 15, 2022: The Times of India

Rakesh Jhunjhunwala
From: Partha Sinha, August 15, 2022: The Times of India


Jhunjhunwala was a billionaire investor, stock trader, qualified chartered accountant and philanthropist, who became the co-owner of India’s newest airline.

Made killing in ‘unknown’ Titan, Crisil, Praj Inds

In October 2021, Jhunjhunwala had met PM Modi in Delhi and famously said“
India ka time aa gaya


”. “He was the biggest India bull…always believed in the India story,” a person who knew Jhunjhunwala for over three decades told TOI. “If you cut his arm, the colour of his blood would be Tiranga.”


At Times Network’s India Economic Conclave in March 2021, Jhunjhunwala had said that not only the current decade, even the current century was poised to be India’s. Jhunjhunwala’s rise started with an initial capital of Rs 5,000. In 1985, when he had entered the market, his dream was to earn Rs 1 lakh a month, he had told TOI during an interview in 2011. Almost 37 years later, on a good day, he was earning several crores of rupees. On Sunday, Forbes estimated his net worth at Rs 44,000 crore.


Although known widely for his hugely profitable investing, he had the rare ability to mix his investing acumen with sharp trading skills. Trading and investing in the stock market require distinctly varied skills.


During the late 1990s and early 200s, he had invested in some of the little-known com- panies that had baffled many seasoned investors of that time. He was buying not just a few shares but minority stakes in then relatively unknown companies like Titan, Crisil and Praj Industries.


“He had bought about 5% in Titan when its market cap was just Rs 500-700 crore. He still holds that stake,” said a person who had worked with Jhunjhunwala in the past. On Friday, Titan’s market cap was Rs 2.2 lakh crore, a 400-times jump since Jhunjhunwala had bought his stake in the watches-to-jewellery major. 
Repetition of mind-blowing successes often earns the person several sobriquets and Jhunjhunwala was no different. ‘Rakeshbhai’ to friends and close associates, he also carried nicknames like ‘India’s Warren Buffet’, ‘RJ’ and ‘Rocky’. 
Great successes also produce legendary tales. One of those is about how he spent Rs 32 lakh in one night on the choicest whiskies and wines at a south Mumbai bar after his bearish bets on one of India’s techbellwethers came in correct and he made several crores in just one trading session in 2003. 
The world knows about how he made his billions but not many knew how he spent part of his fortune. Giving back to society without too many people knowing about it was his philosophy. “Rakesh Jhunjhunwala was committed to many good causes,” said Nilesh Shah, group president & MD, Kotak MF.