The sudden demise of Rakesh Jhunjhunwala on Sunday morning came as a shocker for many especially for the people from the industry.
According to the doctors in Breach Candy hospital, Jhunjhunwala had a sudden cardiac arrest which was the cause of his death.
“He was also suffering from chronic kidney disease, was on chronic dialysis & was responding well. He was diabetic and had recently undergone an angioplasty,” said Dr Pratit Samdani, Breach Candy Hospital.
If one looks back at the journey of Jhunjhunwala, he has a rich portfolio to share. Here is all about Jhunjhunwala.
Investments
He had investments in more than three dozen companies, the most valuable being watch and jewellery maker Titan, part of the Tata conglomerate.
His portfolio includes companies like Star Health, Rallis India, Escorts, Canara Bank, Indian Hotels Company, Agro Tech Foods, Nazara Technologies and Tata Motors.
As the Indian game developers begin to expand their global footprint, shares of ace investor Rakesh Jhunjhunwala-backed online gaming company Nazara Technologies that surged 20 percent after the firm reported a 22 percent rise in net profit for the June quarter this year.
Online Gaming
Jhunjhunwala, who understood the future of online gaming in India when the industry was still in its infancy, owned 10.03 per cent or 65.88 lakh shares in Nazara Technologies, whose partnership with global e-sports platforms, game publishers and brands have made it the leading e-sport company in the country.
Nazara is a diversified gaming and sports media platform with a presence in India and across emerging and developed global markets such as Africa and North America, with offerings across the interactive gaming, e-sports and gamified early learning ecosystems.
Stock Exchange
Besides, the Bombay Stock Exchange’s benchmark index Sensex was at 150 when he began investing. It now trades at over 59,000 points.
Billionaire investor Rakesh Jhunjhunwala, often referred to as ‘India’s own Warren Buffet’, was an Indian billionaire business magnate, stock trader and investor. He managed his own portfolio as a partner in his asset management firm, Rare Enterprises.
Estimated Worth
Jhunjhunwala grew up in a Rajasthani family, in Bombay where his father worked as a Commissioner of Income Tax. He graduated from Sydenham College and thereafter enrolled at the Institute of Chartered Accountants of India.
He had an estimated net worth of $5.5 Billion (as of July 2022) making him the 36th richest man in India.
In 2021, he founded Akasa Air, low-cost airline in India.
Jhunjhunwala’s interest in stock markets arose when he observed his father discussing the markets with his friends. While his father guided him on the markets, he never gave him money to invest and forbade him from asking friends for money.
With his savings at hand, Rakesh started investing early when in college. Beginning with ₹5,000 capital in 1985, today his investment has grown to ₹11,000 crores.
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