Shocking News – ‘Big Bull’ Rakesh Jhunjhunwala Passes Away: Stock trader and billionaire investor Rakesh Jhunjhunwala died on Sunday in Mumbai. He was 62 years old. Popularly called as the “Big Bull” and “India’s Warren Buffet”, Jhunjhunwala bought stocks that mostly gave returns above 100%.
His latest high-profile investment was in India’s newest airline, Akasa Air.
Narendra Modi Wrote about Rakesh Jhunjhunwala Passes Away
Prime Minister Narendra Modi wrote on social media, “Full of life, witty and insightful, he leaves behind an indelible contribution to the financial world.”
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. pic.twitter.com/DR2uIiiUb7— Narendra Modi (@narendramodi) August 14, 2022
He never shied away from sharing his ideology openly, and was always optimistic about India’s dynamic future. Rakesh Jhunjhunwala: He is not just the Warren Buffett of India. He is the Jhunjhunwala of our Country. His story is truly inspiring. something is key fact is here…
- Jhunjhunwala entered the stock market with just Rs 5,000 in 1985. ( Some people says Rs. 1500)
- During the 80s, Sensex was at 150 points (Cant believe it now right)
- Jhunjhunwala was able to take an amount of Rs 2.5 lakhs from one of his brother’s clients by promising to give higher returns compared to the fixed deposits.
- His first major profit was ‘Tata Tea’ Shares.
- He bought 5,000 shares of Tata Tea at Rs 43 and within 3 months it was trading at Rs 143.
- He made a profit of over 3 times by selling the stocks of Tata tea.
- Between 1986-89, He earned Rs 20-25 lakhs
- His MOST successful investment so far (arguably) is Titan.
- In 2002-03, Rakesh Jhunjhunwala bought ‘Titan Company Limited’ at an average price of Rs 3 and currently it is trading at a price of Rs 2400+
- He is holding over 4.4 crore shares of titan company.
- He did not stop after that.
- As of August, Jhunjhunwala’s net worth was $5.8 billion,
- Rakesh is India’s 36th richest person in the year of 2021.
- Rakesh Jhunjhunwala is extremely bullish on India’s growing economy and its success as an emerging market.
Simplicity, being brutally honest, and Having research so strong that people fall short of questions! These are the top things I learned from the Big Bull, Rakesh Jhunjhunwala! Arguably the person who led the majority of the millennials to enter the stock market and start investing.
Rakesh Jhunjhunwala Passes Away – Heart breaking news for the entire Indian Market.
Sad to hear that the biggest asset on the balance sheet of the Indian Stock Market is not between us. May his divine soul rest in peace. In his own words- “Nobody can predict the weather, death, market and women.” A big loss to humanity and investor community. May his soul rest in peace!