Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li>With the passing away of <keyword id="6398943" type="General" weightage="20" keywordseo="rakesh-jhunjhunwala" source="Orion">Rakesh Jhunjhunwala</keyword>, India has lost its biggest champion.</li><li>He had been widely known for his investment strategies, but he was also one of the biggest philanthropists in the country.</li><li>Even while battling illness, he opened an eye hospital where 80% of surgeries would be carried out free of cost.</li></ul>“When I became a billionaire in 2008, my father wasn’t interested in my net worth but in how much I was going to give away,” Rakesh Jhunjhunwala, India’s best known stock investor, had said nearly a decade ago. This is probably one of the reasons why Jhunjhunwala constantly endeavoured to strike the right balance between earning and giving back to the society. The man, dubbed as India’s Warren Buffett, was so much more than an Indian stock market mogul. He has been among the country’s most notable philanthropists – he wanted to give away a fourth of his wealth within his lifetime. He did achieve the target last year as he donated 25% of his annual income towards charitable work focused on the education sector, according to Edelgive Hurun India Philanthropy list. He donated approximately <a href="https://www.india.com/business/rakesh-jhunjhunwala-as-a-philanthropist-big-bull-donated-approx-rs-13-69-lakh-per-day-5571664/">₹13.69 lakh</a> per day last year. Jhunjhunwala <a href="https://www.businessinsider.in/india/news/akasa-air-founder-top-broker-rakesh-jhunjhunwala-passes-at-62/articleshow/93551704.cms">passed away </a>on Sunday morning, leaving a deep void. His stock picks had earned him a cult following, and his humble nature was praised by many. It was not long ago that Jhunjhunwala’s simple dressing sense became a source for many memes after his meeting with Prime Minister Narendra Modi. Son of an income-tax officer, Jhunjhunwala never forgot his roots no matter how much wealth he had accumulated over the years. “I would be driving the same car and having the same food even with 85% less wealth than now. At heart, I’m pure middle-class. If I don’t go to the office for a few days, my wife starts asking why you are home,” India’s <a href="https://www.forbes.com/india-billionaires/list/#tab:overall">36th </a>richest man had <a href="https://www.thehindubusinessline.com/markets/rakesh-jhunjhunwala-indias-warren-buffet-who-remained-a-middle-class-at-heart/article65768876.ece">said</a>. Jhunjhunwala stepped into philanthropy with St Jude, a free-of-cost shelter for underprivileged children battling cancer, which has helped over 31,262 children since its inception in 2006. His biggest charity was Agastya, which aims to impart knowledge of science to young students. Other than these, he also backed Ashoka University. Friends and the beneficiaries of these organisations have also <a href="https://www.outlookindia.com/business/the-oracle-of-dalal-street-rakesh-jhunjhunwala-news-216304">highlighted</a> that Jhunjhunwala didn’t just believe in only signing a cheque, but was also actively involved in these causes. The philanthropy didn’t end here. Even when he was battling health problems last year, Jhunjhunwala opened an eye hospital named after his father near Mumbai last June. The R Jhunjhunwala Sankara Eye Hospital follows a 20:80 model, where two in ten surgeries are subsidised for those who can afford it and the remaining eight are totally free of cost. The hospital is primarily built for patients from rural Maharashtra. Jhunjhunwala was born on July 5, 1960, and grew up in a Rajasthani family in Bombay. He entered the stock market with just ₹5,000 in 1985. He amassed a fortune worth an estimated $5.8 billion (roughly ₹46,042 crore) in his life span. His portfolio included 47 companies like Star Health, Titan, Canara Bank, Indian Hotels Company, Nazara Technologies and Tata Motors at the end of June. He also had holdings in Tata Communications, Bilcare, Federal Bank and Aptech. His latest venture was an airline – Akasa Air, which took its maiden flight exactly a week before his death on August 7. A Chartered Accountant by qualification and training, he was 62 and is survived by his wife Rekha and three children. “Rakesh Jhunjhunwala was indomitable. Full of life, witty and insightful, he leaves behind an indelible contribution to the financial world,” Prime Minister Narendra Modi said on Sunday. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/heres-a-list-of-stocks-that-can-benefit-from-the-festive-season/articleshow/93579202.cms">Here’s a list of stocks that can benefit from the festive season</a> <a href="https://www.businessinsider.in/business/news/food-delivery-startup-qmin-claims-to-be-the-only-profitable-business-among-its-peers-like-zomato-swiggy/articleshow/93520527.cms">Taj Hotels’ Qmin food delivery app claims to be the only profitable business among its peers</a> <a href="https://www.businessinsider.in/entertainment/news/avatar-2-black-panther-2-ant-man-here-is-a-complete-list-of-hollywood-movies-expected-to-hit-indian-theaters-in-the-next-6-7-months/articleshow/93522825.cms">Avatar 2, Black Panther 2, Ant Man — Here is a complete list of Hollywood movies expected to hit Indian theaters in the next 6-7 months</a>

Life and times of Rakesh Jhunjhunwala — the man behind the trader

The bull has sadly left the sand pit before his time, very much at the peak of his prowess. Putting an end to all speculation, legal fraternity sources have revealed that top stockbroker and <keyword id="6504177" type="General" weightage="50" keywordseo="big-bull" source="Orion">Big Bull</keyword> Rakesh <keyword id="45125" type="General" weightage="100" keywordseo="jhunjhunwala" source="Orion">Jhunjhunwala</keyword> has left a will which will provide direction and intent on his heirs and the handling of his colossal <keyword id="27145" type="General" weightage="20" keywordseo="fortune" source="Orion">fortune</keyword> hereafter. Jhunjhunwala, whose fortune is believed to be worth approximately ₹50,000 crore, had arranged to ensure his estate, including shares and <keyword id="6354516" type="General" weightage="20" keywordseo="property" source="Orion">property</keyword>, is bequeathed to his wife and three children. In fact, he would often speak about his fourth child - charity. A part of his fortune will thus definitely go towards his favorite charities. His assets - direct holdings in listed and unlisted companies as well as immovable properties - would therefore pass on to his wife and three children, said a person from the legal fraternity on condition of anonymity. Known for his value investing model, the Big Bull is also known to own 35 company holdings. His major investments are in: construction and contracting (11 per cent), miscellaneous (nine per cent), banks (private sector) (6 per cent), finance (general) (6 per cent), construction and contracting (civil) (6 per cent), pharmaceuticals (6 per cent), and banks (public sector) (3 per cent). Jhunjhunwala has three children - daughter Nishtha (18) and twin sons, Aryamaan and Aryavir (13). He would call charity his fourth child. While his listed holdings are reportedly worth ₹50,000 crore, his immovable properties include a sea-facing building in Malabar Hill, Mumbai, purchased from Standard Chartered Bank for ₹176 crore in 2013, and a holiday home in Lonavala. Moreover, his long time legal associate Berjis Desai is reportedly the main executor of the will. The will be read out in the presence of his family after all the Hindu rituals are completed. Desai, who is ex-managing partner of J Sagar Associates, has known the value investor for close to 25 years. He is now an independent legal counsel engaged in private client practice, that is, succession and estate planning for HNIs and promoter families through wills, trusts and family arrangements; resolving family, testamentary and business disputes through mediation and confidential fast track arbitration; and regulatory aspects of offshore investments, residential status and citizenship, insolvency and asset reconstruction advisory. He was also a co-investor in Jhunjhunwala's new aviation venture <keyword id="11911527" type="General" weightage="20" keywordseo="akasa-air" source="Orion">Akasa Air</keyword>. "I have made a small investment. I understand aviation is a high-risk, high-reward business and generally people are cynical about it. But I believe there will be a boom for low-cost airlines in next five-seven years. It is a bet on Jhunjhunwala's business acumen," Desai had said at the time of investing. This scotches speculation of all interlopers who were being perceived to be heirs to Jhunjhunwala's wealth. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/airtels-stock-surges-as-bharti-telecom-says-it-will-acquire-singtels-stake-for-1-6-bn/articleshow/93767761.cms">Airtel’s stock surges as Bharti Telecom says it will acquire Singtel’s stake for $1.6 bn</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/news/sanitary-pads-take-250-800-years-to-decompose-which-is-pushing-young-indians-to-opt-for-greener-alternatives/articleshow/93758591.cms">Sanitary pads take 250-800 years to decompose, which is pushing young Indians to opt for greener alternatives</a>

Rakesh Jhunjhunwala left a will to bequeath  ₹50,000 cr fortune to wife, children: sources

You Searched For "rakesh jhunjhunwala charity" and got 2 results

Life and times of Rakesh Jhunjhunwala — the man behind the trader

Kritti Bhalla

Rakesh Jhunjhunwala left a will to bequeath ₹50,000 cr fortune to wife, children: sources

IANS

Popular Keywords

Buying Guides