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Humans of finance: Rakesh Jhunjhunwala

"Markets are like women - always unpredictable, mysterious, commanding, and volatile." - Rakesh Jhunjhunwala

Rakesh Jhunjhunwala was born in Mumbai on 5th July 1960. His father was an active stock market investor, which had a positive influence on him as a youngster. As he completed his Chartered Accounting degree at Sydenham College, Mumbai, he wanted to enter the stock market, but his father did not financially help him. While in college, Rakesh Jhunjhunwala started investing in the Indian stock market at a time when the BSE Sensex was approximately 150 points.

Taking risks, Jhunjhunwala borrowed money from his brother's clients, promising them handsome returns in comparison to fixed deposits in banks. He made his first profit when he sold 5000 shares of Tata Tea at Rs 143 a share which he had purchased at Rs 43. He earned Rs 2 -2.5 million from trading stocks of Sesa Goa (now Vedanta) between 1986 and 1989. Titan was one of his best holdings. Investment in the right assets helped Jhunjhunwala's capital rise from 5000 Rs in 1985 to 11000 crore Rs in 2018.

With a portfolio of 27 stocks and an estimated value of Rs 20,700 crores, Rakesh Jhunjhunwala has been dubbed the Warren Buffett of India. Currently, as of March 2022, his net worth amounts to Rs 537 crores. Forbes has listed him multiple times, and many companies have given him many titles, such as the Economic Times calling him the 'Pied Piper of Indian Stocks.

Rakesh Jhunjhunwala is a philanthropist in addition to being a successful businessman. He donates to the Agastya International Foundation and St Jude, both of which provide shelter for cancer-stricken children, as well as Arpan, which raises awareness about child sexual abuse in India.

The supreme achievement of Rakesh Jhunjhunwala proved that if you set your heart on something, you can succeed in it. He showed that if you are willing to put in the effort, you can reach the top.

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