Rakesh Jhunjhunwala, widely known as the “Warren Buffett of India,” was a legendary investor, stock trader, and billionaire who left a lasting impact on the Indian financial world. Known for his sharp market insights, long-term vision, and bold investments, Jhunjhunwala was not just a stock market expert but also a mentor, philanthropist, and entrepreneur. He became a symbol of self-made success in India.
In this article, we explore the life, journey, net worth, major investments, philosophy, and legacy of Rakesh Jhunjhunwala, providing a comprehensive 360-degree view of the man who inspired millions.
Early Life and Education
Childhood and Family Background
Rakesh Jhunjhunwala was born on July 5, 1960, in Mumbai (then Bombay), Maharashtra.
He hailed from a Rajasthani Marwari family, a community known for its deep-rooted association with business and finance.
- Father’s Profession: His father worked as an Income Tax Officer, which exposed young Rakesh to financial discussions early in life.
- Siblings: He had two brothers and a sister.
Education
Rakesh was academically inclined and pursued:
- Bachelor of Commerce from Sydenham College, Mumbai
- Later, he became a Chartered Accountant (CA) in 1985
Even as a student, he had a keen interest in the stock market, and he started understanding market trends, economic policies, and business cycles.
Entry into the Stock Market
First Investment
Rakesh entered the stock market in 1985 when the Sensex was at 150 points.
- He borrowed ₹5,000 from his brother to make his first investment.
- His first big profit came in 1986 when he made ₹5 lakh in a few weeks from trading Tata Tea shares.
This marked the beginning of a brilliant investing career that spanned nearly four decades.
Career and Growth
Rise as a Successful Investor
In the late 1980s and early 1990s, Rakesh Jhunjhunwala earned significant profits from stocks such as:
- Sesa Goa
- Titan
- Lupin
- Crisil
- Tata Power
Titan Company Ltd. became his most famous and largest holding, where he initially invested when the stock was trading at just ₹3.
At the time of his death in 2022, his stake in Titan alone was worth over ₹11,000 crore.
Rare Enterprises
He founded his privately owned stock trading firm called Rare Enterprises, derived from his and his wife’s names:
- Ra – Rakesh
- Re – Rekha
Through Rare Enterprises, he invested in both public and private companies, building a diversified portfolio in sectors like:
- Finance
- Technology
- Retail
- Healthcare
- Education
- Infrastructure
Investment Philosophy
Rakesh Jhunjhunwala followed a blend of value investing and long-term vision, inspired by Warren Buffett, Radhakishan Damani, and George Soros.
Key Principles:
- Buy businesses with strong fundamentals
- Invest for the long term
- Ignore short-term market noise
- Be fearless and bold in decision-making
- Stay updated with economic and political trends
He often said:
“The market is a place where money gets transferred from the impatient to the patient.”
Major Holdings and Portfolio
As of 2022, Rakesh Jhunjhunwala had invested in more than 30 publicly listed companies.
Top Companies in His Portfolio:
| Company | Sector | Estimated Value (2022) |
| Titan Company | Consumer Goods | ₹11,000+ crore |
| Star Health | Insurance | ₹7,000 crore |
| Metro Brands | Retail | ₹2,000 crore |
| Tata Motors | Automotive | ₹1,000 crore+ |
| Crisil | Finance/Research | ₹900 crore |
| Lupin | Pharma | ₹600 crore |
He was known to hold stocks for years, even when market sentiment was against them — showing his conviction and patience.
Personal Life
Family and Lifestyle
- Wife: Rakesh was married to Rekha Jhunjhunwala, who was also a stock market investor.
- Children: The couple had three children — a daughter and twin sons.
- Despite his immense wealth, he led a simple lifestyle and was known for his humility and humor.
Philanthropy and Social Work
Rakesh Jhunjhunwala believed in giving back to society. He pledged to donate 25% of his wealth to charity.
Focus Areas:
- Education
- Healthcare
- Rural Development
Akasa Air, the low-cost airline he funded, also had a strong emphasis on employment generation and affordable travel.
Entry into Aviation: Akasa Air
In 2021, Rakesh Jhunjhunwala surprised the business world by announcing his investment in a new airline venture, Akasa Air.
Key Details:
- Investment: ₹260 crore
- Stake: 40%
- Launched: August 2022
- CEO: Vinay Dube (ex-Jet Airways)
Akasa Air was designed to be India’s most efficient and affordable airline, showing Rakesh’s entrepreneurial vision beyond the stock market.
Controversies
Like many public figures, Rakesh Jhunjhunwala faced some controversies in his career.
- Insider Trading Case (2021): SEBI imposed a fine on him and his family members in an insider trading case involving Aptech Ltd. However, Jhunjhunwala always cooperated with authorities and resolved the matter legally.
Despite occasional criticism, his reputation as a smart, ethical investor remained intact.
Awards and Recognition
Rakesh Jhunjhunwala received numerous accolades and honors:
- Featured in Forbes List as one of India’s richest men
- CNBC-TV18’s Lifetime Achievement Award
- Economic Times’ Most Influential Market Voices
He was also frequently invited to speak at business schools and investment forums, inspiring the next generation of Indian investors.
Death and Legacy
Sudden Demise
Rakesh Jhunjhunwala passed away on August 14, 2022, at the age of 62, due to a cardiac arrest.
He was admitted to Breach Candy Hospital, Mumbai, where he was declared dead on arrival.
He had been suffering from chronic kidney disease and diabetes, yet remained active till the end.
Nation Mourns
His death was widely mourned across India:
- Prime Minister Narendra Modi tweeted:
“Rakesh Jhunjhunwala was indomitable. Full of life, witty and insightful, he leaves behind an indelible contribution to the financial world.” - The Bombay Stock Exchange (BSE) and NSE observed a moment of silence in his memory.
Enduring Legacy
Rakesh Jhunjhunwala’s life remains a case study of turning ₹5,000 into billions — showing that vision, risk-taking, and patience can create immense wealth.
Inspirational Quotes by Rakesh Jhunjhunwala
“Always go against the tide. Buy when others are selling and sell when others are buying.”
“Markets are like women—always commanding, mysterious, unpredictable.”
“Success does not mean never falling, but rising every time you fall.”
These quotes reflect his philosophy of optimism, courage, and realism.
Conclusion
Rakesh Jhunjhunwala’s journey from a middle-class boy to a billionaire investor is nothing short of legendary.
He inspired millions to believe in the Indian growth story, take calculated risks, and invest with conviction. Through his investments, he not only created wealth but also transformed companies, created jobs, and contributed to India’s economy.
Today, his name is etched in Indian financial history as the Big Bull — a title he wore with pride, passion, and purpose.
