Big Bull Of Dalal Street & Ace Investor Rakesh Jhunjhunwala Passes Away: Revisiting The Billionaire's Journey

The 'Big Bull of Dalal Street' and billionaire investor Rakesh Jhunjhunwala passed away Sunday morning due to multiple health issues. At 6.45 am, he was rushed to Candy Breach Hospital in Mumbai after he suffered from a cardiac arrest, where the medical team declared him dead.

Jhunjhunwala was also suffering from Kidney ailments and had been discharged from the same hospital a few days after treatment.

An investor chartered accountant and inspiration for many traders; he was last seen publicly at Akasa Air's launch, where he arrived in a wheelchair. He teamed up with Former IndiGo head Aditya Ghosh and former CEO of Jet Airways Vinay Dube to launch Akasa Air, reported NDTV.

The entire nation is mourning his sudden demise as before today's morning, Rakesh Jhunjhunwala was the living inspiration for many settled and newbie investors.

Rakesh Jhunjhunwala was indomitable. Full of life, witty and insightful, he leaves behind an indelible contribution to the financial world. He was also very passionate about India's progress. His passing away is saddening. My condolences to his family and admirers. Om Shanti. pic.twitter.com/DR2uIiiUb7

— Narendra Modi (@narendramodi) August 14, 2022

His Inspirational Journey

Rakesh Jhunjhunwala was born on July 5, 1960, into a family where his father worked as an officer in the Income Tax department in Mumbai. He completed his graduation from Sydenham College and enrolled at the Institute of Chartered Accountants of India (ICAI) to become a CA, and he did so. On February 22, 1987, he married Rekha Jhunjhunwala and had three children, including twin sons and a daughter.

Jhunjhunwala's entry into the stock market dates back to when he was in college. His interest in entering the market arose when he heard and observed his father discussing with his friends the stock market. Later, he requested his father that he wants to enter Dalal Street, and his father guided him in the same. However, he never gave money in hand to Rakesh for investment and asked him to arrange money by asking his friends.

The Big Bull started his journey in 1985 with his savings of Rs 5,000 and reached a total investment of Rs 11,000 crore. His first colossal profit was Rs 5 Lakh which he made in 1986 and earned Rs 20-25 Lakh between 1986 and 1989. Later, he became a member of the Board of Advisors in India's International Movement to the United Nations. As of 2021, one of his most significant investments is in the Titan company, worth Rs 7,294 crore.

The billionaire investor was the chairman and investor at dozens of companies, including Geojit Financial Services, Viceroy Hotels, Hungama Digital Media, and Aptech Limited, to name a few. He faced many challenges in the market but came back stronger with an ambition to make an investment empire to inspire others. In 2008, the price of his stocks fell by 30 per cent as the global recession affected the entire market, but he recovered all his losses by 2012.

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