Rakesh Jhunjhunwala Biography, Rakesh Jhunjhunwala portfolio, Rakesh Jhunjhunwala portfolio, Rakesh Jhunjhunwala Net Worth.
Rakesh Jhunjhunwala is an Indian Investor and trader, living in Mumbai, India. In 2010 Fobers has estimated his net worth to be $ 1.1 Billion.
He is a famous equity investor in India and manages his own portfolio as a partner in his asset management firm, Rare Enterprises. By profession he is Charted Accountant.
The name
RARE Enterprise comes from first two letters of his and his wife name i.e.
Rakesh and Rekha.
Jhunjhunwala is living in Malabar Hill and works from his office at Nariman Point in South Mumbai.
Rakesh Jhunjhunwala is a son of Income tax officer; while he was in Sydenham College he got involved in stock market and made it his full time profession, soon after completion of college he started his career in stock market with $100 in 1985 when BSE Sensex was at 150. He made his first big profit of Rs 0.5 million in 1986 when he sold 5,000 shares of Tata Tea at a price of Rs 143 which he had purchased for Rs 43 a share just 3 months prior. Between 1986 and 1989 he earned Rs 20-25 lakhs. His first major successful bet was iron ore mining company Sesa Goa. He bought 4 lakh shares of Sesa Goa in forward trading, worth Rs 1 crore and sold about 2-2.5 lakh shares at Rs 60-65 and another 1 lakh at Rs 150-175. The prices then went up to Rs 2200 and he sold some shares.
But he credits Madhu Dandavate's Union budget of 1990 as the inflection point for his investing career which quintupled his net worth.
Under the guidance of Mr Radhakrishna Damani, he made a lot of money shorting stocks at the time of Harshad Mehta scam post 1992.
He is a long term investor.
Rakesh stock pick is religiously followed by many investors and it remain hot subject of debate and Analysis.
Jhunjhunwala is the Chairman of Aptech Limited and Hungama Digital Media Entertainment Pvt. Ltd and also sits on the Board of Directors of various Indian listed/ unlisted companies like Prime Focus Limited, Geojit BNP Paribas Financial Services Limited, Bilcare Limited, Praj Industries Limited, Provogue India Limited, Concord Biotech Limited, Innovasynth Technologies (I) Limited, Mid Day Multimedia Limited, Nagarjuna Construction Company Limited, Viceroy Hotels Limited, CRISIL & Tops Security Limited.
