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#36 Rakesh Jhunjhunwala
Photo by SHAILESH ANDRADE/REUTERS/Newscom
REAL TIME NET WORTH
as of 10/22/21
$25 M | 0.43%
Reflects change since 5 PM ET of prior trading day
Investor with a Midas touch, Rakesh Jhunjhunwala is often referred to as India's WarrenBuffett.
Son of an income tax officer, Jhunjhunwala started dabbling in stocks while still in college.
He began investing with $100 in 1985 when the Bombay Stock Exchange Index was at 150; it now trades over 38,000.
His most valuable listed holding is watch and jewellery maker Titan, part of the Tata conglomerate.
Jhunjhunwala also has stakes in privately held companies such as Star Health Insurance, Metro Brands and Concord Biotech.
A soaring stock market propelled the nation’s 100 richest to record levels. The benchmark Sensex rose 52% from a year ago. As a result, more than 80% of the listees saw their fortunes rise, with 61 adding $1 billion or more.
Forbes Asia today unveiled its annual Heroes of Philanthropy list, highlighting 15 altruists in the Asia-Pacific region who are committed to causes ranging from Covid-19 relief to the arts and education.
If you suffer the misfortune of being an outpatient in the Indian medical system, you may find your time spent trying to file health insurance claims ends up being longer than your time as a patient, because it’s all being filed by hand. One company set out to be the first to solve this, finding an unusual new problem ahead.
China’s Xiaomi, the world’s No. 5 smartphone vendor, said yesterday it has taken a step deeper into the India market by leading a $25 million investment into digital media entertainment business Hungama Digital Media Entertainment. Xiaomi, chaired by billionaire Lei Jun, didn’t say what percentage of the company the $25 million [...]
The parent of India’s largest coffee chain, Cafe Coffee Day, is filing for an IPO in the country in the coming fortnight. The pre-IPO valuation of the Starbucks rival is said to be $1 billion. The pioneering Cafe Coffee Day is credited with triggering off a cafe culture in the [...]
Titan's Bhaskar Bhat / Credit: Gireesh GV for Forbes India BY ANURADHA RAGHUNATHAN Back in 2002 Indian watch-and-jewelry-maker Titan Industries was in the doldrums, saddled with debt from a flailing jewelry business and an expensive foray into Europe. That’s when the new managing director, Bhaskar Bhat, sat down with Indian investor Rakesh [...]