How much wealth did Rakesh Jhunjhunwala leave behind?
16 Aug 2022 10:43:51
Mumbai, Aug 16: The death of Indian billionaire Rakesh Jhunjhunwala puts a spotlight on the nearly $4 billion worth of stocks held by the famed investor, whose trades were closely scrutinized.
The man known as India’s Warren Buffett died of a reported cardiac arrest Sunday at the age of 62. The self-made trader invested in a wide swathe of established businesses and startups and served on the boards of several Indian firms.
Jhunjhunwala was among the most influential market voices in Asia’s third-biggest economy, with an intense following among the nation’s growing horde of retail investors. The man also known as “Big Bull" was a fierce backer of the Indian growth story. Jewelry retailer Titan Co. was one of the largest and most profitable investments for the veteran trader and his wife Rekha Jhunjhunwala, making up more than a third of their portfolio, according to data compiled by Bloomberg. Their other top holdings by market value include Star Health & Allied Insurance Co., footwear maker Metro Brands Ltd., and automaker Tata Motors Ltd. Jhunjhunwala held stakes of more than 10% in Star Health, IT firm Aptech Ltd. and videogame maker Nazara Technologies Ltd.
Even Prime Minister Narendra Modi acknowledged the impact Jhunjhunwala had on the investing community. The “indomitable" investor made “an indelible contribution to the financial world," Modi wrote in a tweet Sunday.