History of Rakesh Jhunjhunwala in Timeline

By Popular Timelines Editorial Team · Updated: May 29, 2024

Rakesh Jhunjhunwala was an incredibly successful Indian investor and trader who, starting with a mere ₹5,000 in 1985, amassed a fortune of US$5.8 billion by the time of his death. His acumen in the stock market earned him the ranking of 438th richest person globally. He was a partner in his own asset management company, Rare Enterprises.

July 1960: Birth of Rakesh Jhunjhunwala

Rakesh Jhunjhunwala was born in July 1960 into a Rajasthani Marwadi family.

1985: Jhunjhunwala's Entry into the Stock Market

In 1985, Rakesh Jhunjhunwala embarked on his investment journey with a starting capital of ₹5,000.

1986: Jhunjhunwala's First Major Stock Market Success

Rakesh Jhunjhunwala achieved his first significant profit of ₹5 lakh from the stock market in 1986.

February 1987: Marriage to Rekha Jhunjhunwala

Rakesh Jhunjhunwala married Rekha Jhunjhunwala on February 22, 1987.

1989: Continued Success in the Stock Market

Between 1986 and 1989, Rakesh Jhunjhunwala furthered his success in the stock market, earning approximately ₹20–25 lakh in profit.

1992: Rakesh Jhunjhunwala Portrayed in "Scam 1992"

Actor Kavin Dave portrayed a character inspired by Rakesh Jhunjhunwala in the web series "Scam 1992."

June 2004: Birth of Daughter, Nishtha

Rakesh and Rekha Jhunjhunwala welcomed their daughter, Nishtha, on June 30, 2004.

March 2009: Birth of Twin Sons, Aryaman and Aryaveer

Rakesh and Rekha Jhunjhunwala became parents to twin sons, Aryaman and Aryaveer, on March 2, 2009.

June 2012: Rakesh Jhunjhunwala Blog Parody Authors Revealed

The individuals behind a blog parodying Rakesh Jhunjhunwala were unveiled by The Economic Times in June 2012.

2013: Purchase of Ridgeway Apartments Units

Rakesh Jhunjhunwala acquired 6 out of 12 units in the Ridgeway apartments at Malabar Hill from Standard Chartered Bank for ₹ 176 crore in 2013.

2017: Acquisition of Remaining Ridgeway Apartments Units

In 2017, Rakesh Jhunjhunwala purchased the remaining 6 apartments in the Ridgeway building from HSBC for ₹ 195 crore.

July 2021: Investment in Akasa Air

Rakesh Jhunjhunwala made a significant investment in Akasa Air, a low-cost Indian airline, in July 2021, acquiring a 40% stake for US$400 million.

2021: Jhunjhunwala's Largest Investment in Titan Company

As of 2021, Rakesh Jhunjhunwala's most substantial investment was in Titan Company, valued at ₹7,294.8 crore.

2021: Construction of New Residence

Following the demolition of the old Ridgeway building, Rakesh Jhunjhunwala commenced construction on his new 13-storey home in 2021.

2021: Insider Trading Investigation and Settlement

In 2021, Rakesh Jhunjhunwala faced an insider trading investigation related to Aptech Computers shares. He reached a settlement with SEBI, paying ₹18.5 crore.

August 2022: Death of Rakesh Jhunjhunwala

On August 14, 2022, Rakesh Jhunjhunwala passed away at Breach Candy Hospital in Mumbai due to kidney-related problems and multiple organ failure.

2022: Jhunjhunwala's Investment Portfolio at the Time of His Passing

By 2022, Rakesh Jhunjhunwala had grown his investment to a substantial ₹11,000 crores.

February 2024: Akasa Air's Growth and Jhunjhunwala's Increased Stake

By February 2024, Akasa Air had expanded its fleet to 24 aircraft, serving 19 cities. Rakesh Jhunjhunwala had increased his stake in the airline to 46%, making him the largest stakeholder.