Rakesh Jhunjhunwala, a renowned stock market investor, passed away this morning in a Mumbai hospital. Akasa Air was another company in which he was a co-founder. The newest airline in India just started operating service last week. Jhunjhunwala received treatment for kidney-related issues at the same hospital before being discharged a few weeks ago. At Mumbai’s Banganga cremation this evening, he will be cremated. In India, he ranked 36th among billionaires, according to a Forbes list from 2021.
Rakesh Jhunjhunwala’s Top Investments
These are some of the stocks that turned Rakesh Jhunjhunwala into one of the best investors in history instead of just another successful investor. He invested in Titan in the early 2000s after the dot com bubble collapsed. He purchased about six crore shares at an average cost of Rs 3 per share. Currently, Rakesh Jhunjhunwala owns worth more than Rs 11,000 crore in Titan. In 2007, he and his wife invested in Metro Brands. Although, Rakesh’s first investment amount is unknown. Nevertheless, Metro Brands is one of Rakesh Jhunjhunwala’s most excellent bets. Its value is at Rs 3,348 crore.
His decision to invest in Crisil with his wife was another winning decision. They began in 2003 and had acquired more than 8% of the stake by 2005. More than Rs 1,300 crore is the current value of his Crisil investment. Tata Motors and Star Health are two of Rakesh Jhunjhunwala’s further significant investments. Rakesh Jhunjhunwala held 17% of the company’s stock as of June 2022 and had 100.7 million shares in Star Health.
Things To Learn From Rakesh Jhunjhunwala
Price Is God
One must always respect the price. At every price, there is a buyer and a seller. Only the future decides who is right and who is wrong. Be aware that you can be wrong too.
Don’t Invest By Borrowing
Your guess about the market can also be wrong. For example, suppose you buy a stock that turns out to be wrong according to your estimates. So you can get into trouble with the borrower’s money.
Risk
Be careful with these four words. First, invest as much as you can afford to lose in the short term. That’s why everyone should check their risk profile before investing. Sometimes investors put themselves in trouble by taking too much risk.
Investing Can’t Be Taught
Make mistakes, but only those which you can tolerate. It will save you from making another mistake. But never repeat the mistake you already made. Repeating a mistake would mean you didn’t learn anything from the past.
Be Optimistic
It is the first quality you must have to succeed in the market. This is because your patience is tested in the stock market.
Facts About Rakesh Jhunjhunwala
There are a few interesting facts about Rakesh Jhunjhunwala. He always loved street food like pav bhaji. Additionally, very few people knew about the movies that he produced. Some movies are English Vinglish, Shamitabh, and Ki & Ka. In 2017, he earned 900 crores in one day from Titan shares. He was on the 440th rank among the wealthiest person in the world. In RARE enterprises, RA stands for Rakesh, and RE is for Rekha.
His profession is chartered accountant, and he is from Rajasthan. While still in college, Rakesh Jhunjhunwala started experimenting with stocks. He also managed RARE Enterprises, a stock trading company. He was the 36th richest man in India, with an estimated net worth of $5.5 billion. May his soul Rest in Peace.
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