the secret of success
Jhunjhunwala was born on July 5, 1960 in Mumbai to a Rajasthani family. A chartered accountant by profession, Jhunjhunwala had the potential to play big in stocks. He continued to invest in stocks like Titan, Crisil and Lupin for over 10 years and gained immense wealth on his own. As of August 10, his holdings in listed companies were worth Rs 30,653 crore. Apart from that, he also had stakes in many unlisted companies. He has also co-produced many films.
According to Forbes, Jhunjhunwala was the 36th richest person in the country in 2021 and this year was at number 438 in the world’s richest list. Its portfolio includes Star Health, Titan, Rallis India, Escorts, Canara Bank, India Hotels Company, Agro Tech Foods. ), Nazara Technologies and Tata Motors. At the end of the June quarter, he owns shares in 47 companies. Apart from that, he has stakes in around 19 companies.
Even at the age of 62, Jhunjhunwala’s appetite for risk-taking had not ceased. Recently, he had made a foray into the aviation sector. This too at a time when the world is in danger of recession, the cost of jet fuel is skyrocketing and it is not easy to succeed in an industry like aviation. Veterans like Subrata Roy, Naresh Goyal and Vijay Mallya burned their hands there. Still, Jhunjhunwala was determined to go for it. Experts said Jhunjhunwala is a smart investor, but running an airline is not like stock trading.
Jhunjhunwala himself said at an event in February: “The question on many people’s minds is why I started an airline. Instead of answering his question, I would say that I am ready to fail. It is better to fail after trying than not to try. He said that for him this airline has now become a matter of prestige. He said, “I want to prove people wrong. Now it has become a matter of prestige for me. Jhunjhunwala had invested $35 million in Akasa, which equates to around 40% of the capital. But Akasa had just spread her wings when Jhunjhunwala left the world before he could see her soaring high.
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