In 2022, India's top stock market guru died of a cardiac arrest. Rakesh Jhunjhunwala, whose name evokes the sound of jingling money, was the pied piper of the Indian stock market.
Rakesh Jhunjhunwala was India's 36th richest man in 2021 and 438th billionaire on Forbes List 2022. His knack for picking (mostly) good stocks has won him acclaim.
Jhunjhunwala's financial trajectory is the dream of the average investor. Being at the right place at the right moment may have helped him succeed.
Jhunjhunwala was born in 1960, a decade after India's independence. Jhunjhunwala's age saw tremendous changes in a country seeking to build its destiny, thus he believed in India's progress.
He invested Rs 5000 in Tata Tea, which climbed from Rs 43 to Rs 143 in three months. In three years, he made Rs 25 lakhs from tea investments, his first large profit. Jhunjhunwala still holds Titan Company in 2022.
Jhunjhunwala invested in Bollywood movies, companies, and the stock market. He funded Akasa Air, which launched last week.The 62-year-old was last publicly seen at the launch, where he appeared in a wheelchair.
According to his pals, he was a maverick and a risk-taker. His fury and ability to build relationships were both well-known. He's said in interviews that his relationships mattered most.
Rakesh Jhunjhunwala earned a fortune through stock market bets when few traded in India. His success is directly tied to India's, where he gained a cult following for his shrewd financial decisions.