HomeStock MarketRakesh Jhunjhunwala's net worth down ₹426 crore in one day due to...

Rakesh Jhunjhunwala’s net worth down ₹426 crore in one day due to two stocks

Rakesh Jhunjhunwala’s net worth witnessed a decline due to the falling shares. Misfortunes happen in the stock market. The businessman misplaced around ₹426 crores on Friday. His portfolio stocks Star Health Insurance and Titan faced the wrath. Markets already witnessed a fall due to a surge in US inflation.

Titan’s share dipped by ₹53.20 apiece on the same day. Similarly, Star Health Insurance’s share dipped ₹18.55 per share. Both Jhunjhunwala and his wife Rekha are ace buyers in the corporations. As mentioned earlier, the slide in this inventory led to a big dip in their net worth.

Rakesh Jhunjhunwala and Rekha Jhunjhunwala’s holding in Titan

Rakesh Jhunjhunwala holds 3,57,10,395 shares in Titan. It is 4.02 percent of the issued paid-up capital in the corporate. This is according to the Titan Company shareholding sample for the 2021 quarter (October to December). Similarly, Rekha Jhunjhunwala holds 95,40,575 in Titan. It is a 1.07 percent stake in the corporate. So, the couple collectively holds 4,52,50,970 shares. That makes for 5.09 percent of the stake in the corporate.

Rakesh Jhunjhunwala and wife’s holding in Star Health Insurance

Both Rakesh and Rekha hold 10,07,53,935 shares in Star Health Insurance. It makes for 17.50 percent of the issued paid-up capital of the company. This is according to the Star Health Insurance shareholding sample for Q3FY22. The couple holds a big share of services here.

A dent in Rekha and Rakesh Jhunjhunwala’s net worth

As Titan’s shares went down by 53.20 per share on Friday, and the couple holds 4,52,50,970 shares, their net worth went down by ₹240 crores. Similarly, they hold 10,07,53,935 shares in Star Health Insurance. The inventory’s shares went down by ₹18.55 per share on Friday. So, the net loss in their worth comes around ₹186 crore. So, the total plunge in Rakesh Jhunjhunwala’s net worth ₹426 crores (₹ 240 + ₹186).

Rakesh Jhunjhunwala’s net worth and story

Big Bull Rakesh Jhunjhunwala is an Indian billionaire. He is also an investor and a stock trader. He manages his portfolio as a partner in Rare Enterprises. His estimated net worth as of 2021 was $5.8 billion. He is the chairman of Hungama Digital Media Entertainment Private Limited and Aptech Limited. He is also one of the board of directors of Prime Focus Limited. The same goes for Bilcare Limited, Geojit Financial Services, Concord Biotech Limited, Provogue India Limited, Praj Industries Limited, and many other companies.

Jhunjhunwala made his first-ever big profit in 1986. The amount was ₹5 lakh. Moreover, he earned a profit of almost ₹20-25 lakh between 1986 and 1989. His biggest investment to date is on Titan Company. The same is around ₹7,294.8 crore. He is currently a member of the Board of Advisors of India’s International Movement to Unite Nations. (IIMUN). People also refer to him as India’s Warren Buffet. He is the 48th richest man in the country as per Forbes’ Rich List. He further contributes to NGOs who work for the welfare of cancer-stricken children and other similar causes.

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