The self-made stock market king Rakesh Jhunjhunwala, who had a number of health problems, died at the age of 62. The seasoned investor, whose net worth was $5.8 billion, was frequently referred to as “India’s Warren Buffett” in a dig at the American philanthropist and investor-god. Rakesh Jhunjhunwala previously remarked that Warren Buffet, the CEO of Berkshire Hathaway, was “far, far ahead” of him when he was referred to as “India’s Warren Buffet.” I am not a duplicate of anyone. In an interview with Reuters, Rakesh Jhunjhunwala introduced himself as Rakesh.

Why Rakesh Jhunjhunwala Was Dubbed As ‘India’s Warren Buffett’

The “Oracle of Omaha” is frequently used to refer to Warren Buffett, one of the top investors and businessmen in the United States and the current CEO of Birkshire Hathaway. Rakesh Jhunjhunwala gained notoriety as the “Oracle of Dalal Street” like his Indian counterpart. The shared trait of the two mavericks was the ability to accurately predict market shifts and make investments in line with them. As soon as these pioneers purchased shares, their value would increase. But among the first generation of investors to gain from the liberal reforms in 1991 was the Indian bull.

  • Rakesh Jhunjhunwala, then 25 years old, purchased his first stock in Tata Tea in 1985 for Rs. 43 per share. Three months later, the price had risen to Rs. 143 a share. At the age of 11, Warren Buffett purchased his first share, and at the age of 13, he submitted his first tax return.
  • Numerous businesses, including Titan Company Ltd. of the Tata group, were held by Rakesh Jhunjhunwala. The largest holding in Rakesh Jhunjhunwala’s name in terms of value is Titan’s stock. Managing Berkshire Hathaway, which owns dozens of businesses like battery manufacturer Duracell, restaurant chain Dairy Queen, and insurance Geico is Warren Buffett as well.
  • Additionally, Big Bull owns Tata Motors, Indian Hotels, Geojit Financial Services, and his own company, Star Health and Allied Insurance, which he just floated on stock exchanges.
  • This month saw Rakesh Jhunjhunwala make his maiden foray into the aviation industry when Akasa Air made its inaugural flight.
  • Jhunjhunwala was the son of an Incom Tax Commissioner, whereas Buffett’s father was a member of the US Congress.

The two’s approaches to long-term investing were the most comparable. Similar investment advice was offered by both business moguls:

“Give your investments time to mature. Be Patient for the World to discover your gems” –Rakesh Jhunjhunwala.

“Someone’s sitting in the shade today because someone planted a tree a long time ago,” –Warren Buffett

Both Rakesh Jhunjhunwala and Warren Buffet, two industry leaders, recommended investors to wait until a product was completely matured before taking advantage of it.

According to Forbes, Rakesh Jhunjhunwala ranked 38th in India and was the 440th richest person in the world. The investment tycoon began his professional life with just Rs. 5000. He has joined forces with former IndiGo CEO Aditya Ghosh and ex-Jet Airways CEO Vinay Dube to create Akasa Air, India’s newest low-cost airline. This month, the airline launched its commercial operations with an inaugural flight from Mumbai to Ahmedabad.

The Shining Media

The Shining Media is an independent news website and channel, covering updates from the world of Politics, Entertainment, Sports, International, National, and a lot more.

By The Shining Media

The Shining Media is an independent news website and channel, covering updates from the world of Politics, Entertainment, Sports, International, National, and a lot more.

Leave a Reply

Your email address will not be published.