Rakesh Jhunjhunwala is one of the most famous personalities of the Indian stock market. In this article, we discuss 8 amazing facts about him.
Fact No. 1: Was fascinated by the stock market early in life
With his father being an IRS officer who worked as the commissioner of Income Tax, there were always talks about money, taxes, and stock markets at Rakesh’s home. This made a young 12-yr boy Rakesh curious about markets. At that time, Rakesh didn’t know that his curiosity would take him to places he could not have imagined.
Fact No. 2: Started investing with a few thousand rupees
Just like every typical Indian father, Rakesh’s father permitted him to follow his passion only after finishing his professional degree. Jhunjhunwala completed CA in 1985 and expressed his burning desire to enter the stock market to his father. To this, Rakesh’s father replied, “Do it on your own and don’t ask anyone for money.” With that in mind, Rakesh started his journey in the stock market with his hard-earned Rs. 5,000.
Fact No. 3: Minted the first big profit
In 1986, Rakesh bought 5,000 shares of Tata Tea trading at Rs. 43 apiece. Within 3 mth, the stock rose to Rs. 143 giving Rakesh a huge profit of Rs. 5 lakh. During 1986-1989, he made more such trades that earned him gains of about Rs 20-25 lakh.
Fact No. 4: Love for street food
Rakesh is a foodie and loves street food, dosa, and Chinese cuisine. His love for Pav Bhaji makes him a Mumbaikar at heart. Pleasantly, Rakesh prefers Pav Bhaji cooked at home by his wife Rekha over the street variant. Apart from eating, he also enjoys watching food shows.
Fact No. 5: Venturing into Bollywood
Rakesh is a big fan of Bollywood. He has produced films such as English Vinglish, Shamitabh, and Ki & Ka. In 1999, with four other partners, he launched Hungama Digital Media as an online promotions agency and is now Chairman of the same. Later, it was renamed Hungama Digital Media Entertainment Pvt. Ltd. As of 2021, Hungama Music and Hungama Play are available in the OTT market.
Fact No. 6: Giving back to society
Rakesh says that he isn’t a philanthropist but hopes to be one. He has committed to donating 25% of his portfolio or Rs. 5,000 cr, whichever is lower on his 60th birthday. His father, who passed away in 2008, always used to encourage him to do charity. So from 2008, Rakesh started giving 25% of his dividend income as charity.
Fact No. 7: Being the king of dividends
Rakesh’s portfolio has a sea of stocks that offer dividend returns in crores. Here are a few numbers: Rakesh holds about 3.93 cr shares of the Titan Company, which announced Rs. 4 per share as dividends in August 2020. That’s approximately Rs. 15.7 cr in dividends. Next, he and his wife Rekha together hold about 39.75 lakh shares in Crisil. It has given Rs. 19 per share as dividends over three interim periods in 2020. That’s about Rs 7.5 cr. On top of that, there might be another dividend giveaway before March 2021.
If you want to know how much dividends any listed company provides, visit the respective Stock Page on Tickertape’s website. Alternatively, you can also launch the Tickertape app, search for the stock, and check the Events tab.
Fact No. 8: One of the top-rated stock market investors in India
With time, Rakesh Jhunjhunwala has identified gems and has created a solid multi-bagger portfolio. His net worth grew from around Rs. 9,168 cr in March 2020 to Rs 16,266 cr in Jan 2021, making him one of the richest stock market investors in India. It has also earned him titles like “the Big bull of the Indian Stock market” and “the Warren Buffet of India”.