Jhunjhunwala, whose fortune is believed to be worth approximately Rs 50,000 crore, had arranged to ensure his estate, including shares and property, is bequeathed to his wife and three children. In fact, he would often speak about his fourth child - charity.
His deeply ingrained belief and conviction on India and its potential is strongly corroborated by some of his long-term bets – companies that will grow as domestic consumption or discretionary spends go up.
Jhunjhunwala was also famous for delivering catchy dialogues that came naturally to him. At the India Today conclave last year, he said: “India is coming into a phase that India has never seen, hamara time aayega nahi, hamara time aa gaya hai (India’s time will not come, it has already come).”
In July 2021, Rakesh Jhunjhunwala paid nearly ₹18.5 crore to settle a Sebi probe related to alleged insider trading in Aptech shares; wife Rekha paid ₹3.2 crore
Rakesh Jhunjhunwala pick: Shares of Singer India have gained 4.6 per cent in the last one year till August 12, 2022, while the benchmark BSE Sensex has advanced 8.4 per cent.