"Unyielding
Ambition:The Inspirational Journey of Rakesh Jhunjhunwala"
The Unyielding Visionary
Your heart can
fly as far as it wants, but keep your feet planted firmly on the ground. There
is just one guy to whom this is true, and that man is none other than Rakesh
Jhunjunwala. He is also known as the Warren Buffet of India. Despite having
both kidneys fail over his final ten years of life and requiring constant
dialysis, he continues to inspire and uplift countless numbers of people. The
one who starts making money with little Rs 5,000 and currently has a net worth
of over 40,000 crores. We could tell from his demeanor that the average man may
potentially develop into one of the world's most remarkable personalities.
Early Life and Family
Jhunjhunwala was born on July 5, 1960, into a
Marwadi family from Rajasthan. His last name suggests that Jhunjhunu in
Rajasthan was the progenitor of his forefathers. His father was an officer of
income taxes. On February 22, 1987, Rakesh Jhunjhunwala married Rekha
Jhunjhunwala. The couple was blessed with three kids. On June 30, 2004, their
daughter, Nishtha, was born. On March 2, 2009, their twin sons, Aryaman and
Aryaveer, were born. Just
as a young child.
Early Interest in the Stock Market
Rakesh was a
gifted student with lofty aspirations. Since his father worked in the income
tax office, they had extensive knowledge of the stock market. His father also
discusses the financial market with his friends and coworkers. His interest in
the stock market escalated when he was fourteen years old. He bombards his
father with questions about the stock market. Additionally, his father provides
him with thorough responses to his queries.
"Biography/Journey of Rakesh Jhunjhunwala - The Warren Buffett Of India"
Starting Small in the Stock Market
He reads a variety of stock market-related news articles in newspapers. And as time went on, his interest in the stock market grew significantly By then, he had often asked his father for money so they could trade, but each time, he had refused. First, he must be competent to manage money, as his father advised. After graduating from Sydenham College, Rakesh Jhunjhunwala became a chartered accountant.
Afterwards,
he made the decision to go into the stock market, however, his initial
investment was just Rs 5000. However, he was able to gather sufficient funds
because "if there is will, there is a way." With a capital of
$250,000, his brother, who is a certified public accountant, has one female
client. Furthermore, she desires greater returns on her investment than FD. By
then, she was receiving a 10% return from FD, but she was hoping for more. Rakesh
Jhunjhunwala then persuaded her by promising to provide her with an 18% return
on this sum. He gets five lakhs from another guy as well. He was able to accumulate
enough money to trade in this way.
Early Trading Successes
And so he began trading; the Sensex was
trading at 150 at the time, and it is currently trading at 72000 Rs. Subsequently,
via a worthwhile study, he identified that Tata Tea Share is undervalued and
has significant upside potential. Thus, for 43 Rupees., he purchased about 5000
Tata Tea shares. And in just three months, the Tata Tea share price rose to 143
rupees. He received three returns. It brought him 5,00,000 rupees. When 5 Lack
signifies today, the amount will be expressed in crores Rakesh
Jhunjhunwala took advantage of the massive market crisis and widespread panic
in 1986 to invest in Tata Motors by conducting sound fundamental research,
which increased his net worth to fifty lakhs. He then made a lot of money in
the next two to three years by making little investments.
Transition
to Larger Investments
Then, at the cost of 25 rupees, he
takes the biggest gamble of his life by purchasing 4 Lacks shares of Sesa Goa,
which is today known as Vedanta. He sold his 2.5 Lack shares of Sesa Goa when
the price hit 65. A few months later, when the stock hit 150, he once again liquidated
all 1 Lack shares, then sold off the remaining shares when the stock hit 2200
and made a substantial profit.
Market Insight and Transition to Major Wealth
As he was willing
to take risks, his fortune saw a significant transition in 1989. V.P. Sigh led
India as prime minister in 1989, while Madhu Dhanvata served as finance
minister. Due to the finance minister's remarks and actions on the previous budget,
all traders, shareholders, and investors believed that the majority of this
year's budget was allocated to social issues. Consequently, there was fear in
the market that this budget would not be business-friendly. As a result, the
market is fearful. However, according to Raskesh Jhunjhunwala's opinion, this
year's budget will be beneficial to business since Prime Minister V. P. Singh
is an extremely competent and business-savvy individual. So he made large
investments in stocks relating to business. His net worth was 2 crores on that
day prior to the budget, and it increased to 20 crores after it due to the
budget's complete business friendliness. His net worth increased to 40–50
crores within six months of the budget.
Establishing Rare Enterprises and Further
Successes
Later on, he founded his own asset
management business, Rare Enterprises. The company's name caught my attention.
He chose the first two coming from his name (Rakesk – Ra) and the second two
from her wife's name (Rekha – Re). He revealed the name Rare Enterprise Company
from this. In this business, he began managing and investing money.
Investment Wisdom and
Continued Success
He purchased over 4.4 Crore shares of Titan
in 2002 at a price of 3, and after a few months, the price rose to 80 Rupees.
He didn't sell any shares, but when the price dropped to 30, he didn't worry
since he had a firm belief in this stock. Additionally, a single Titan share
now costs Rs 3600. This is the power of investing In a previous interview, he
revealed that he sold some Crisil stakes at 27 crores to purchase a flat in
Mumbai; the share is now valued at over 1000 crores. And the current value of
such a flat is between 80 and 90 crore. This indicates a discrepancy of almost
900 crore. The market is supreme, therefore, embrace your mistake if you make
one, he continued, adding that he had no regrets. Acknowledge our mistakes and
continue to better ourselves.
Business Ventures and Philanthropy
In
addition to operating on the boards of directors of Prime Focus Limited, Geojit
Financial Services, Bilcare Limited, Praj Industries, Provogue, Concord
Biotech, Innovasynth Technologies (I) Limited, Mid Day Multimedia Limited,
Nagarjuna Construction Company, Viceroy Hotels, and Tops Security Limited,
Jhunjhunwala held the position of chairman of Aptech and Hungama Digital Media
Entertainment. Additionally, he was a member of the International Movement to
Unite Nations (I.I.M.U.N.) Board of Advisors in India.
Legacy and Influence
They
own over 13,000 crores in Titan, 1700 crores in Tata Motors, roughly 1300
crores in Cricil, 895 crores in Fortis Health Care, 850 crores in Federal Bank,
850 crores in Indian Hotel Company Limited, and several other holdings.
Along with being a producer, he has
produced over four films and founded Aakash Airlines, despite the fact that it
is now a losing venture due to his aspirations and vision for the future. He
stated in an interview that he was prepared for failure. This attitude has this
individual; even if we know our analysis is correct, we are frightened of
failing and act in fear of failing. And this sets Rakesh Jhunjhunwala apart
from other people. We have to take risks if we have to accomplish something in
life. Consider this: Why are there so few successful individuals in the world?
It's clear that they have made numerous sacrifices and done something to set
them apart from others.
Facing Health Challenges
Jhunjhunwala
became unwell on August 14, 2022, and was sent to Breach Candy Hospital in
Mumbai. He is a diabetic who is dependent on dialysis. However, he also has
unhealthy habits, such as excessive alcohol use and cigar smoking. He passed
away at around 6:30 a.m. Afterwards, medical professionals stated that he
experienced acute multiple organ failure and kidney-related issues.
Legacy and Inspiration
Rakesh
Jhunjhunwala's journey serves as a beacon of hope and inspiration for countless
individuals around the world. Despite facing adversity and health challenges,
he remained undeterred in his pursuit of success and continued to inspire
others with his unwavering determination and resilience
As his story
comes to a close, Rakesh leaves behind a legacy that transcends mere financial
wealth. His philanthropic endeavors, entrepreneurial spirit, and commitment to
excellence serve as a testament to the power of perseverance and the human
capacity to overcome obstacles.
Continuing the Legacy
Though he may no longer be with us in body, Rakesh's legacy lives on in the hearts and minds of those he touched. His life serves as a reminder that with passion, perseverance, and a steadfast belief in oneself, anything is possible. As we reflect on his remarkable journey, we are reminded to chase our dreams relentlessly and leave a lasting impact on the world. Rakesh Jhunjhunwala may have passed on, but his legacy will continue to inspire generations to come.
