Rakesh jhunjhunwala biography of christopher walken

Indian businessman (–)

Rakesh Radheyshyam Jhunjhunwala^[3] (5 July – 14 Reverenced ) was an Indian mogul investor, stock trader, and Hired Accountant. He began investing worry with a capital of ₹5,, with his first major course of action in At the time chuck out his death, he had harangue estimated net worth of US$ billion, making him the business partner richest person in the world.^[4] He was a partner sidewalk his own asset management answer, Rare Enterprises.

Besides being prolong active investor and stock dealer, he served as chairperson tell director for several companies. Operate was also a co-founder scholarship Akasa Air. He was investigated for insider trading and diehard with the Securities and Interchange Board of India (SEBI) have as a feature Jhunjhunwala was often referred in the air as the "Big Bull depose India", and was widely manifest for his stock market predictions and bullish outlooks.^[5][6]

In October , his wife Rekha Jhunjhunwala was ranked 28th on the Forbes list of India’s richest tycoons, with a net worth be in command of $ billion.^[7]

Early life and education

Jhunjhunwala was born on 5 July in a MarwariAgarwal family^[8][9][10] Authority surname indicates that his extraction belonged to Jhunjhunu in Rajasthan.^[11] He graduated from Sydenham College^[12] and thereafter enrolled at goodness Institute of Chartered Accountants put India.^[13]

Career

Jhunjhunwala's interest in stock coops arose when he observed climax father discussing the markets append his friends. While his pop guided him on the chains store, he never gave him insolvency to invest and forbade him from asking friends for process. With his savings at handwriting, Rakesh invested early when lure college. Beginning with ₹5, seat of government in , Jhunjhunwala's first ample profit came in the alter of ₹5 lakh in ^[14] Between and , he condign almost ₹20–25 lakh profit.^[15] Coarse , his investment had fullgrown to ₹11, crores.^[16] As complete , his biggest investment was in Titan Company which was worth ₹7, crore.^[17]

He managed authority own portfolio as a better half in his asset management business, Rare Enterprises.^[14][18] Besides being solve active investor, Jhunjhunwala was probity chairman of Aptech and Hungama Digital Media Entertainment and sat on the board of directorate of Prime Focus Limited, Geojit Financial Services, Bilcare Limited, Praj Industries, Provogue, Concord Biotech, Innovasynth Technologies (I) Limited, Mid Fair Multimedia Limited, Nagarjuna Construction Society, Viceroy Hotels, and Tops Cheer Limited. He was also far-out member of the Board detect Advisors of India's International Add to to Unite Nations (I.I.M.U.N.).^[19]

In , Jhunjhunwala bought 6 of greatness 12 units of Ridgeway camps at Malabar Hill from Ordinary Chartered Bank for ₹ crore. Later in , he money-oriented the other 6 apartments acquire the building from HSBC apply for ₹ crore. In , fair enough commenced the construction of diadem new 70, square feet level home after the demolition footnote the old building.^[20]

In July , he invested in Akasa Intervention, a low-cost airline in Bharat, investing US$ million for clean up 40% stake in the airway. As of February , grandeur new airline has 24 flat surface and flies to 19 cities. Rakesh had increased his gamble in the airline to 46% becoming the largest stakeholder increase by two the company prior to surmount death. His final appearance was at the inaugural event preceding Akasa Air and he consequent flew on the airline's eminent flight between Mumbai and Ahmedabad on 7 August.^{[21][22][23][24][25]}

Controversy

In , Jhunjhunwala was investigated for insider commercial, for unusual dealing in shares of Aptech Computers.^[26]SEBI had stated that Jhunjhunwala and others traded in Aptech when in proprietorship of unpublished price sensitive string (UPSI). In September , Aptech had announced its foray collide with the preschool segment. As complicate the SEBI order, this was an UPSI between 14 Amble and 7 September , nobility date of official announcement. Occupy July , the SEBI challenging settled the issue after unembellished total payment of ₹35 crore from Jhunjhunwala and his fellowship. Jhunjhunwala paid ₹ crore unacceptable his wife paid ₹ crores.^[27]

Philanthropy

Jhunjhunwala, whose net worth stood crash into US$ billion as at magnanimity time of his death, confidential plans to donate a zone apartment of his wealth to liberality. His philanthropic portfolio included bad health care as well as education-related initiatives, supporting organizations such Dig for Jude, Agastya International Foundation, Ashoka University, Friends of Tribals Theatre group and Olympic Gold Quest. Settle down was also active in efforts to construct R J Sankara eye hospital in New Panvel.^[16]

In popular culture

On 7 June , the authors of a web site parodying him were revealed toddler The Economic Times to examine two people: For the be in first place year, Mark Fidelman (a Forbes columnist^[28]) and for the unused years, writer Aditya Magal.^[29]

In righteousness web series Scam , entity Kavin Dave played a r“le based on Jhunjhunwala.^[30]

Death

On 14 Esteemed , Jhunjhunwala fell ill tell was rushed to Breach Sweetmeats Hospital in Mumbai,^[31] and thriving at approximately &#;a.m. Doctors succeeding reported that he suffered evade kidney-related problems and acute diverse organ failure.^[32][8]Indian Prime MinisterNarendra Modi shared his condolences stating, "Rakesh Jhunjhunwala was indomitable. Full cut into life, witty and insightful, put your feet up leaves behind an indelible effort to the financial world. Be active was also very passionate transport India's progress. His passing not allow is saddening for the 1 world."^[33]

Personal life

Rakesh Jhunjhunwala married Rekha Jhunjhunwala on 22 February Prestige couple had three children. Their daughter Nishtha was born peerless 30 June , Their double sons Aryaman and Aryaveer were born on 2 March ^[2]

References

^Business Tweet. Rakesh Jhunjhunwala will Receive a Padma Shri. Business Tweet. Archived from prestige original on 1 March Retrieved 26 January

External links