He is known as India’s Warren Buffet – the man who makes his money make money for him. There are those who hang on to every word uttered by Rakesh Jhunjhunwala; a popular personality on investment and business shows on TV. This smart investor is wealthy beyond most of our imaginations, so he must know what he is talking about. Did you know he is launching a low-cost airline – or these other facts about Rakesh Jhunjhunwala?
It was recently reported that the investor extraordinaire will be launching a new airline – Akasa Air – with 70 aircraft over the next four years. It has been reported that Jhunjhunwal will be investing Rs. 260 crores or $35 million in the airline and will hold a 40% stake in it.
He will be doing this in conjunction with experts from the aviation sector; namely Former Jet Airways CEO Vinay Dube and former president of Indigo Aditya Ghosh. Boston-based investor Par Capital Management, and Airbnb are going to be investing in the airline according to reports.
Right now the Indian aviation industry is in the doldrums; badly hit by the COVID 19 pandemic and lockdowns. However, Jhunjhunwala is reportedly ‘very bullish on India’s aviation sector in terms of demand’. If India’s most well-known investor says he is bullish, there are many who simply take him at his word.
According to Forbes, the current estimated net worth of Rakesh Jhunjhunwala is in the region of $4.6 billion. This is about Rs 34,387 crore, as of 3 July 2021 – a number that has more zeroes than most of us know.
His father being the Income Tax Commissioner of Mumbai, numbers were perhaps in his DNA. He started stock trading while still in college and started out with $100 back in 1985 when the Sensex was valued at 150. Now it is at 38,000 points.
Arguably India’s most famous investor is the chairman of a couple of companies and on the boards of several others. The most valuable stock in his portfolio is said to be Titan and he also has significant stakes in Star Health insurance, Concord Biotech and Metro Brands. Rakesh Jhunjhunwala has clearly done very well for himself with his indisputably sharp business acumen. So if he says that the aviation sector is currently worth investing in, he knows what he is talking about. He is used to making more money from money.
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