story of rakesh jhunjhunwala how he become billionaire

story of rakesh jhunjhunwala

story of Rakesh Jhunjhunwala how he becomes a billionaire

Mr. Rakesh Jhunjhunwala was born on July 5, 1960, in Mumbai. he lived in Mumbai from the beginning, where his father an income tax officer. Rakesh Jhunjhunwala was interested in the stock market since his childhood. when Rakesh's father and his friend used to discuss the stock market related, then Rakesh was only 12 years old when he used to questions him with curiosity. such as why the share price ups and down, then Rakesh's father used to respond in detail to each of his questions. Mr. Rakesh Jhunjhunwala compiled his graduation studies from Sydenham college in Mumbai. in 1985, after having completed the CA, he told his father that i had to make my career in the stock market. then her father told her about 3 and 4 things, which later came to work in her career. Rakesh's father told Rakesh that you do what you enjoy. they also said that you never ask me for money. Then he told Rakesh also be Fearless and increase him.

that time Rakesh had only RS 5000. Rakesh's brother was practice for CA. and he had a client, that lady had a good capital and wanted good returns. those days, bank deposits used to get returns up to 10%. so Rakesh told that lady, I will give you 18% returns per annum. in this way, Rakesh got 2.5 lakh rupees from that lady. apart from this, he got another person 5 lakh rupees. by doing so, he raised his initial capital. in the early days of his career, Rakesh made a profit of 8 to 10 lakh rupees by trading. after that, the next two-three years have been tough for Rakesh. by 1989, Mr. Jhunjhunwala net worth was 2 crores rupees. in 1989, Mr. Madhu Dandavate was a finance minister in the government of BP Singh. and the 1989 union budget of Mr. Madhu Dandavate made a turning point for Mr. Jhunjhunwala's career. Everyone, from a common investor to large market players, everyone thinks that Mr. Madhu Dandavate budget would concentrate on the social things and not focused on the business. There was fear in the market. and everyone bearish of the market.

Rakesh Jhunjhunwala felt that BP Singh, who was then a prime minister, was Thakur who understood the business very well and therefore would never present such a budget. The business which hurt, and then on the day of the budget exactly as Rakesh Jhunjhunwala thought that Mr. Madhu Dandavate budget presented a very good budget which was a great support for the business. Before Mr. Madhu Dandavate budget, Rakesh's net-worth was 2 crores, after 5 months of budget, Rakesh's net worth went from 40 to 50 crores, and he founded Rare Enterprises, which is an asset management Firm, from which he can manage his own portfolio management. The first two letters of the Rare ( Ra ) were taken in the name of Rakesh and next 2 liters ( Re ) were taken by his wife, Miss Rekha Jhunjhunwala.

In 2002, he bought shares of Titan Company. which is a huge brand today. Mr. Jhunjhunwala buys titan share at the price of 4.5 rupees per share in 2002-03. after some time titan stock went up to 80 Rs . and then fell to 30 Rs. when the titan stock came at the value of 80 to 30 Rs. then the value of Mr. Jhunjhunwala's portfolio was fell than 300 crores rupees. but he did not sell any of his shares at 30 Rs. Because they thought that Titan is still going to be very fast. and today the value of 1 share of Titan is around 1100 Rs. It is said that the investor should always have patience. and this example tells us how patience is necessary in stock market investment. Not only, Titan, but Mr. Rakesh Jhunjhunwala has also shown patience in many investments. In 2005, he bought a flat in Mumbai by selling his Crisil stock in 27 crores. After some time, the sale the flat to a good price. Mr. Jhunjhunwala says that the rate of that flat is around 80 to 90 crores today. But if I had not sold the shares of 27 crores of Crisil. then the value of that share would be around 700 to 800 crores rupees today. But Mr. Jhunjhunwala never regrets his mistakes. Rather they learn something from them. They believe, Experience is the only way to learn Investing. and the experience gets from the mistake.

According to him, the market is supreme. And the market is never wrong or right, right or wrong, we are ourselves. So whenever you make a mistake, then accept that mistake. Learn from that mistake and go ahead. If you do not accept your mistake then you will never learn. Mr. Rakesh is known for his longtime bets. But he is also an active trader. At the beginning of his career, he had just strong his own capital base by trading. According to them, trading always keeps them alert. Mr. Rakesh Jhunjhunwala finds a lot of Multibagger stocks in his investing career.  Such as Crisil, Praj industries, Lupin, titan, etc. Those stocks have given them many times returns. Mr. Rakesh Jhunjhunwala has always believed in India's growth story. They are not attached emotionally with any stock. And give the same message to others as well. And buy only for selling every stock. If they think a stock is best to hold up to a long time. then they hold it for a long time.

Mr. Rakesh Jhunjhunwala, therefore, did not make the stock market his profession. Because he had to become a huge wealth creator 1 day or to become very popular. No, he made the stock market his profession, because he is very passionate for the stock market and he enjoys it. According to him, Investing is the world's most interesting profession. Mr. Rakesh Jhunjhunwala is now a movie producer. they have produced English-Vinglish, Shamitabh, ki & ka Bollywood movie. he involved in the board of directors of many companies today. Mr. Rakesh Jhunjhunwala is also known by the name of India's Warren Buffett. Today India's One of the Most Famous Respected Stock Market Investor. According to Forbes, he is now India's 61st richest person in May 2019. Their net worth is 2.9 billion-dollar, around 2000 crores. He decided to donate 25 % of his entire wealth on his 60th birthday i.e. on July 5, 2020.

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story of rakesh jhunjhunwala how he become billionaire story of rakesh jhunjhunwala how he become billionaire Reviewed by Yogesh Dhawan on May 13, 2019 Rating: 5

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