Jhunjhunwala family richest new entrant from India in Hurun's global rich list 2023
1 min read 22 Mar 2023, 03:04 PM ISTThe Jhunjhunwala family is among the largest Indian investors and traders. The family manages its portfolio from asset company Rare Enterprises.
PremiumLate market mogul Rakesh Jhunjhunwala's wife Rekha and his family are the new entrant in Hurun's Global rich list for 2023 M3M. Not just that, the Jhunjhunwala family is the richest new entrant from the country on the list. The Jhunjhunwala family is among the largest Indian investors and traders. The family manages its portfolio from asset company Rare Enterprises.
The 2023 M3M Hurun Global Rich List saw 176 new faces from 18 industries and 99 cities.
From India, 16 new billionaires entered the list --- taking the third rank comfortably ahead of two European countries Italy which added 9 new billionaires, and Germany with 8 new billionaires.
Among the 16 new entrants of billionaires from India, Rekha Rakesh Jhunjhunwala & family topped the list. Their company Rare Enterprises was on the list.
China topped the charts of new additions in Hurun's list with 69 billionaires, followed by the USA at the second spot with the entry of 26 new billionaires.
As per Hurun's list, 24 Indian cities produced 187 billionaires. Based on the number of cities from which the billionaires hail, India ranks 6th in the world. In city-wise, Mumbai, New Delhi, and Bengaluru featured among the top 25 global cities producing the most billionaires in the rich list.
Coming to Rekha, she inherited a portfolio of value stocks from her late husband Rakesh who died in August last year due to health conditions. Rakesh was known as the 'Warren Buffet of India'. After her late husband, Rekha has been modifying her portfolio, buying and selling numerous stocks on occasion. They are also investors in the newly launched low-cost airline Akaka Air.
As per Trendlyne data, late Rakesh Jhunjhunwala's portfolio which is now taken care of by Rekha --- has 29 stocks with a net worth of ₹32,059.54 crore as of March 22, 2023. Tata Group-backed Titan is the most valued stock in Jhunjhunwala's portfolio, followed by Star Health, Metro Brands, Tata Motors, and Crisil.
By end of December 2022, Rakesh's portfolio was around ₹33,230.35 crore.
Meanwhile, Trendlyne data also showed that Rekha's own portfolio has a net worth of ₹25,655 crore as of now.
