Billionaire investor Rakesh Jhunjhunwala categorises the people he looks up to according to the qualities he finds inspiring in them. Often referred to as India’s own Warren Buffet, he is counted among some of India’ wealthiest individuals.
His first role model is his father. “The first role model in my life is my father. My father gave me my morals, my thoughts, my guts, encouragement, curiosity,” he said while speaking at an event of the Confederation of Indian Industry (CII) on Thursday. During his conversation with Anarock chairman Anuj Puri, the latter asked him who his role models were.
Rakesh Jhunjhunwala, 61, said his second role model is the house of Tatas, the salt to airline conglomerate.
For tenacity and courage, he looks up to former British Prime Minister Winston Churchill. “I think for tenacity and sheer guts, Churchill. For the tenacity with which he saved the world in World War II, and for trading I would say George Soros (American billionaire investor),” he said.
Jhunjhunwala said he look up to veteran investor and founder of DMart, RK Damani, for investing and for wisdom.
He, along with his family, has a net wealth of Rs 22,300 crore, according to the IIFL Wealth Hurun India Rich List.
Born in a middle-class family in 1960, his name is a synonym for success in the world of investing. Forbes terms him "investor with a Midas touch."
Jhunjhunwala was born to an income tax officer and started to take a keen interest in stocks as early as in his college days.
He began investing with a capital of Rs 5,000 in 1985 when Sensex was around 150 points. As of 2021, the worth of his holdings was Rs 19,277 crore, as per Trendlyne. As per Forbes, his net worth was $4.6 billion (about Rs 34,000 crore).
The "Big Bull", as he is popularly called, has holdings in 37 companies across sectors- from construction to banks to real estate.
Jhunjhunwala is known for spotting opportunities in sectors and stocks which are not so popular among investors. He has been quoted widely in media saying that he likes to make the investment when the stock is not popular.
Among the stocks, watch and jewellery maker Titan Company has been one of his favourites. However, historic data suggests he reduced the stake in the stock from 7 per cent back in March 2019 to a little over 5 per cent in March 2021.
Over the years, Jhunjhunwala has been actively re-deploying the profits from equity investments into the private equity space. There have been hits and misses, he agrees, but he’s is confident that some portfolio companies will give “multi-returns”.
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