Billionaire stock investor and founder of recently inaugurated airline Akasa Air, Rakesh Jhunjhunwala (62), passed away on Sunday. A chartered accountant by training, Jhunjhunwala was also known as the Warren Buffett of India for his amazing run in the Indian stock market that made his name synonymous with Dalal Street.
Jhunjhunwala started his stock market career during his college days when his father, who was an official in the income tax department, told him not to ask him for money. In the mid-eighties, Jhunjhunwala started with an investment of just Rs 5,000, which is said to have grown to $5.8 billion (around Rs 46,000 crore) at the time of filing this story.
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
Rakesh Jhunjhunwala’s portfolio comprised 32 stocks with a shareholding of over 1 per cent. Some of his biggest bets were – Titan Company, Star Health & Allied Insurance Company, Tata Motors, Crisil, Metro Brands, Federal Bank, and more.
It’s the hard work and determination of Jhunjhunwala that had made him one of the most successful investors in the world, but did Rakesh Jhunjhunwala Kundli also have some role to play in his success? Let’s find out.
Born on July 5, 1960, Rakesh Jhunjhunwala’s kundli has Swagrahi Mars and Swagrahi Guru. The combination of both made him intelligent and full of enthusiasm. Swagrahi Mars makes a person expert in making new strategies, which certainly was a quality that Jhunjhunwala had. A strong Guru, on the other hand, allowed him quick learning capabilities. Yet, these two planets were also responsible for his health ailments. Ignoring the weakness of these planets may have resulted in his early death, as per astrologers.
The zodiac sign of Rakesh Jhunjhunwala is Libra, which allowed him the ability to remain balanced, even during the ups and downs of the market. Also, in Rakesh Jhunjhunwala Kundli, the two planets, Moon and Mars, are face to face, forming a Lakshmi Yoga. Laxmi Yoga or Dhana Yoga, from an astrological point of view, is said to determine the positive social and financial standing of the native. This Yog helps the native excel at new things, which is one of the reasons why Jhunjhunwala had a wonderful start of his new project Akasa Air.
Rakesh Jhunjhunwala started trading in 1986 when he bought Tata Tea shares. He bought 5,000 shares of Tata Tea at Rs 43 each. Later, the stock rose to Rs 143 within three months. He earned over three times a profit. In the next three years, Jhunjhunwala earned Rs 20-25 lakh.
Rakesh Jhunjhunwala’s philanthropist portfolio is as big as his stock portfolio. Jhunjhunwala used to invest in healthcare, education, and nutrition and used to give away 25% of his earnings to charity. In 2020, he made a contribution of 25 percent of his fortune to charity. He contributes to St Jude, which runs shelters for cancer-affected children, Agastya International Foundation, and Arpan, an entity that helps create awareness among children about sexual exploitation.
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