Very few men have the talent of managing two extreme professions simultaneously, and moreover succeeding in both of them in an elusive manner. In this read, we will read more about how Rakesh Jhunjhunwala got success, and how he managed to keep the both ends of his personality intact.
Who is Rakesh Jhunjhunwala?
Even though the man needs to introduction, still for a formality, Rakesh Jhunjhunwala is the chairman of Aptech limited and Hungama digital media entertainment Pvt. Ltd. He is a successful Indian billionaire. He works with the investing and trading portfolio through his keen and sharp mind skills. By profession, he has studied and passed for chartered accountant. Other than this, Rakesh is also the managing partner of his own firm, Rare enterprises which is famous in the whole Indian business world. jhunjhunwala grew up in Mumbai, to a very basic family. His father was an income tax officer in Mumbai. He completed his graduation from Sydenham college and thereafter was enrolled at the institute of chartered accountants of India, thereby successfully becoming a chartered accountant. Initially he began with a trade around 10,000 and less in the Bombay stock exchange. Not many know this fact, that the name of his firm Rare enterprises is the result of the initial of his name combined with his Wife’s name, Rekha.
The initial success mantra
His father used to consistently talk about stock market, which made him gain interest in them. Then he developed a habit of reading newspapers and keeping a check on stock market as suggested by his market. When Rakesh suggested and expressed a wish to work in the stock market, his father first asked him to graduate with a decent degree and then look forward to it. After his graduation, his father gave him a free wing to pursue any career he wants, unlike other fathers who get scared after hearing of an investing career. However, to make him self-sufficient and independent, he did not give any initial capital or help of any kind to his son.
After entering the market with just Rs 5000 in 1985, Mr Jhunjhunwala’s first success was a profit was half a million in just one year. In the next few years, he earned a lot of profit and was close to gathering around 20-25 lakh by the end.
Philosophy and success
This shrewd minded investor does not only consider himself as a trader but also a long-term investor. Apart from being the member of board of directors of many big companies like the Geojlit BNP, Paribas financial services, concord biotech and many others, Mr Rakesh Jhunjhunwala is also a movie producer. As mentioned earlier, he is the chairman of Hungama digital media entertainment Pvt ltd.
When asked about whether he dreamt of becoming this big a man in India, he replied that he did not have much idea at the start of the career as to how to deal with it. He believed that time that the markets will go beyond the imagination that time and India will see success that people could not fathom at that time, he still believes this in his real life.
When asked whether he was superstitious or believed in himself only, he gave a very befitting reply. He mentioned that he does believe in fate and luck, not because of its originality but because of the fact that believing in them will stop him from believing that all that he’s achieved is only because of himself. Believing in them gives him a sense of humility, meaning that it was not just his work that has brought him success, but a set of circumstances that have come together and made his fate, what he is today.
Jhunjhunwala is also a very successful movie producer. His achievements are not to be counted as he has achieved a lot of things in both these fields. He is often called the warren Buffet of India and the King of bull market. He was termed by the economic times as “pied piper of Indian bourses”. Rakesh believes that it’s the mistakes that teach everyone everything. He mentions that mistakes in the stock market have made him learn and become a better investor. Admitting to the mistakes, and believing that you are not the supreme being is the first step towards success. He does not blame the promoter for his own failures, instead he blames himself. He earns money through trading, and then invest it in stocks. He is always bullish on the country growth since he entered the market. He always says that Indian economy will grow by 9-10% in a time span of two to three years. He says he has decided to remain bullish for the next twenty years also.
Mr Jhunjhunwala encompasses a success story which is very extraordinary in its own way. Starting from a middle-classbackground and becoming a billionaire in no time, is something to be learned from him. He is right now 807th in the list of world billionaires by Forbes. He is a self-made man, not even his own father had helped him in the start of his career, to teach him self-dependence only. he started from a small amount of token and now he plays in millions every day. This is not something to be found very easily. His keen mind, business strategies, and knowledge about the stock market has made him one of the richest men in India.
His career as a film producer is also no less successful. He is producing great films, and intends to do so even in the future. Very few people in India have the mind like him. He is a very talented asset to the country, who not only knows how to earn money, but also how to keep it and what impact the money will have in the next twenty years of his career. His predictions about Indian’s economy have always been true, and hope they will be even in the future.