Rakesh jhunjhunwala children

• With the passing away of Rakesh Jhunjhunwala, India has lost its biggest champion. • He had been widely known for his investment strategies, but he was also one of the biggest philanthropists in the country. • Even while battling illness, he opened an eye hospital where 80% of surgeries would be carried out free of cost. “When I became a billionaire in 2008, my father wasn’t interested in my net worth but in how much I was going to give away,” Rakesh Jhunjhunwala, India’s best known stock investor, had said nearly a decade ago. This is probably one of the reasons why Jhunjhunwala constantly endeavoured to strike the right balance between earning and giving back to the society. The man, dubbed as India’s Warren Buffett, was so much more than an Indian stock market mogul. He has been among the country’s most notable philanthropists – he wanted to give away a fourth of his wealth within his lifetime. He did achieve the target last year as he donated 25% of his annual income towards charitable work focused on the education sector, according to Edelgive Hurun India Philanthropy list. He donated approximately Jhunjhunwala Son of an income-tax officer, Jhunjhunwala never forgot his roots no matter how much wealth he had accumulated over the years. “I would be driving the same car and having the same food even with 85% less wealth than now. At heart, I’m pure middle-class. If I don’t go to the office for a few days, my wife starts asking why you are home,” India’s Jhunjhunwala s...

The bull has sadly left the sand pit before his time, very much at the peak of his prowess. Putting an end to all speculation, legal fraternity sources have revealed that top stockbroker and Big Bull Rakesh Jhunjhunwala has left a will which will provide direction and intent on his heirs and the handling of his colossal fortune hereafter. Jhunjhunwala, whose fortune is believed to be worth approximately ₹50,000 crore, had arranged to ensure his estate, including shares and property, is bequeathed to his wife and three children. In fact, he would often speak about his fourth child - charity. A part of his fortune will thus definitely go towards his favorite charities. His assets - direct holdings in listed and unlisted companies as well as immovable properties - would therefore pass on to his wife and three children, said a person from the legal fraternity on condition of anonymity. Known for his value investing model, the Big Bull is also known to own 35 company holdings. His major investments are in: construction and contracting (11 per cent), miscellaneous (nine per cent), banks (private sector) (6 per cent), finance (general) (6 per cent), construction and contracting (civil) (6 per cent), pharmaceuticals (6 per cent), and banks (public sector) (3 per cent). Jhunjhunwala has three children - daughter Nishtha (18) and twin sons, Aryamaan and Aryavir (13). He would call charity his fourth child. While his listed holdings are reportedly worth ₹50,000 crore, his immovable p...

Meet Ravi Kumar S, Cognizant CEO whose annual salary is four times more than Mukesh Ambani’s last actual salary The investor recently ventured into the aviation industry with the launch of Akasa Air that took off on August 7. Jhunjhunwala was also the chairman of Hungama Digital Media Entertainment and RAKESH JHUNJHUNWALA EARLY LIFE Jhunjhunwala was born in a Rajasthani family on July 5, 1960. He spent most of his childhood in Mumbai. His forefathers hailed from Jhunjhunu — the reason behind his surname — in Rajasthan. His father was an Income Tax Commissioner. After finishing school, he took admission in Sydenham College before enrolling in the Institute of Chartered Accountants of India. RAKESH JHUNJHUNWALA INVESTMENT The stock trader first developed an interest in the stock market when he heard his father discussing it with friends. Although he received advice from his father on the market, he never got any money to invest. However, that did not stop Jhunjhunwala and began trading in the financial markets after joining college. He invested Rs 5,000, his savings, in 1985. At that time, the Sensex was at 150 points. It is currently trading at 59,462 points. Rakesh Jhunjhunwala was indomitable. Full of life, witty and insightful, he leaves behind an indelible contribution to the financial world. He was also very passionate about India’s progress. His passing away is saddening. My condolences to his family and admirers. Om Shanti. Within a year, he made a profit of Rs 5 lak...

For Indian Hotels, the brokerage believes the asset-light model and new/reimagined revenue-generating avenues with higher EBITDA margin bodes well for an expansion in RoCE. It is expected to register a CAGR of 50% over FY22-25E. The hotel stock has risen 72% this year. The billionaire family holds a 2.12% stake worth Rs 947.9 crore, the consensus rating from 14 analysts tracking the stock is also Buy. Overall, Jhunjhunwalas owned more than a 1 per cent stake in around 33 listed companies at the end of Q3. Bilcare, On the other hand, RJ and Associates cut stakes in a dozen companies, including three exits, and picked up stakes in half a dozen other stocks, including (With data inputs from Ritesh Presswala) (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) Don’t miss out on ET Prime stories! Get your daily dose of business updates on WhatsApp. • 862.50 04:02 PM | 14 Jun 2023 42.60 (5.20%) 1,779.35 04:02 PM | 14 Jun 2023 41.40 (2.38%) 113.80 04:02 PM | 14 Jun 2023 2.65 (2.38%) 772.85 04:02 PM | 14 Jun 2023 16.20 (2.14%) • 7,096.85 04:02 PM | 14 Jun 2023 -69.90 (-0.98%) 1,323.25 03:59 PM | 14 Jun 2023 -13.00 (-0.97%) 977.70 04:02 PM | 14 Jun 2023 -8.15 (-0.83%) 827.95 04:02 PM | 14 Jun 2023 -6.40 (-0.77%) Popular in Markets • Fed holds rates steady, sees two small hikes by end of year • ​Trading Guide: HUL, Paytm among 7 top stock ideas for upcoming session • How FACT, Tanla Pla...

Reacting to the news of Jhunjhunwala’s death, on the eve of India’s 75 th Independence Day celebrations, Indian 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. He was also very passionate about India’s progress. His passing away is saddening. My condolences to his family and admirers. Om Shanti.” Jhunjhunwala preceded his guru in the billionaire ranks, which he joined for the first time in 2008. Damani debuted on the “Rakesh Jhunjhunwala was indomitable. Full of life, witty and insightful, he leaves behind an indelible contribution to the financial world.” Indian Prime Minister Narendra Modi Jhunjhunwala’s portfolio consists of blue chips such as watch-and-jewelry maker Titan Company, part of the Tata conglomerate, which is his biggest asset worth over $1.5 billion. His other long-time holdings include automaker Tata Motors and ratings firm Crisil. While Jhunjhunwala was always wary of backing new-age startups, in recent years, he had begun reaping a windfall from a clutch of private equity investments as those companies started getting listed. For example, his 14% stake in footwear retailer Metro Brands, which went public last December making its owner In what many saw as a risky move, Jhunjhunwala’s most recent bet was on a sector ravaged by Covid-19: aviation. Last year, he invested $35 million for a 40% stake in low-cost airline Akasa, whic...