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Who is PR Sundar, Mercedes and Jaguar-owning options trader living in a Rs 30 crore penthouse?

PR Sundar is facing extreme backlash for his comments on the virginity of a Twitter user’s daughter.

By  MoneycontrolNov 30, 2022 6:52 AM
Who is PR Sundar, Mercedes and Jaguar-owning options trader living in a Rs 30 crore penthouse?
PR Sundar comes from an economically weak family of eight children in Chennai. (image source - Twitter)

PR Sundar believes that it’s not just the stock markets, but life too is about uncertainty and hence, the popular options trader believes in the unpopular view that saving is overrated and spending is underrated. This is perhaps why he owns luxury cars and lives in a Rs 30 crore penthouse.

Sundar, who has over a million followers on YouTube and over five lakh followers on Twitter, is in the news for his controversial comments. Sundar is facing backlash for his comments on the virginity of a Twitter user’s daughter. Several users on Twitter branded his choice of language on the platform as "distasteful", "poor" and "unacceptable".

He is also under the scanner of the Securities and Exchange Board of India (SEBI). According to the board's website, his firm, Mansun Consultancy Pvt, Ltd has been listed under the Cause List pertaining to 'examination of unregistered investment advisory'.

Humble beginnings

PR Sundar comes from an economically weak family of eight children in Chennai. At a young age, he was sent to a charitable trust hostel. He has said in his YouTube channel that as a child, he never got the chance to have chilled water, and drinking chilled water became one of his ambitions. Keeping this in mind, he bought his first refrigerator.

After completing his post-graduation in Chennai, took up a job as a mathematics teacher in a school in Gujarat. This is where he learnt the ropes of stock market trading from his Gujarati friends, he told Mint in an interview. He was in Gujarat between 1987 and 1993.

Following this, he got an opportunity to teach in Singapore. He returned to India in 2005, after spending 11 years in Singapore.

Rise to internet fame

Sundar started stock market trading in 2007. He joined Twitter in 2017 and has close to five lakh followers on his private account. Chennai-based Sundar regularly puts explainer videos on his YouTube channel, garnering lakhs of views. Over the years, Sundar’s trading capital had soared to over Rs 50 crore with the trader claiming to have made a profit of Rs 20 crore last year from trading and other ventures.

Criticism

PR Sundar has been criticised for allegedly making more money from training than trading. “Why does it matter? At the end of the day, all we have to do is to make money. Is there any government rule that says a person should not be making more money in training than in trading?” he told ETMarkets in an interview.

Sundar has also been accused of posting screenshots of only his profitable positions and faking/deleting screenshots when trades go against him.

Flamboyant lifestyle.

Sundar is the owner of a Mercedes Benz S Class and a Jaguar. He lives in a four-storeyed penthouse worth Rs 30 crore in Tamil Nadu. He is now shopping for a Rolls Royce too. On Twitter, he had shared a photo of him posing next to a Rolls-Royce Ghost. He aspires to buy a yacht in 2024. A clip of him with his Mercedes is captioned: “My 45-year dream is here”.

Sundar has also shared with his followers a detailed home tour video, featuring his glitzy penthouse with a view of the sea from his bedroom.

Key views

Sundar has this message for retail investors: “If you're trading futures, you have no future. If you trade in options, you have plenty of options.” On taking risks, he says, “Don’t take undue risks. Take calculated risks only.”

He predicts that Nifty will touch 20,500-21,000 by December 2023. "From a longer-term perspective, I have never been more bullish on India. With India awaiting inclusion in the global bond index, chances are that the Nifty will touch 20,500-21,000 by December 2023," he told Moneycontrol.


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First Published on Nov 30, 2022 6:52 AM