Rakesh Jhunjhunwala was asked, ‘How does it feel to be rich in a poor country?’ He said this
2 min read . Updated: 16 Aug 2022, 12:59 PM IST
PremiumRakesh Jhunjhunwala was once asked how it felt to be rich in a poor country. Check what he said.
Rakesh Jhunjhunwala often spoke at length about wealth creation. Many enthusiasts, learners and experts wanted to learn more about stock market investing from Big Bull. So, they asked him many questions. However, there were times when he faced slightly-unusual questions.
Jhunjhunwala was once asked how it felt to be rich in a poor country. In his opinion, India is not a poor nation as India has a thriving film industry in addition to a rich culture, cuisine, resources, and fine way of thinking. Therefore, he had no guilt at all.
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“Equality of mankind is a myth, equality of opportunity is a possibility," RJ quoted Winston Churchill while speaking further on the topic 10 years back at EVOKE 2012. He said, as a rich man, he would like to ensure that all Indians had equal opportunities.
If India had not been a wealthy nation, he believed he would not have been as wealthy. The index was 112 points when he began his career in the stock market in 1985. The index stood at 20,000 at the time of his address in 2012. He believed it to be an illustration of the development and prosperity of the nation. He claimed he would never have achieved his level of wealth if there was no prosperity in India.
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He was also grateful and fortunate to be working in the post-liberalisation era. In his opinion, India was about to embark on its second phase of liberalisation. People could make money thanks to liberalisation. He was delighted to note the current influx of young billionaires in India.
Additionally, he thought individuals from other nations were dissatisfied with the fact that India had more millionaires and entrepreneurs than China. It just serves to highlight how much more effectively India supports private businesses and capitalism than China, he added.
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He firmly believed that spurring prosperity was the only way India could end poverty. However, one shouldn't worry about how the cake was divided at the same moment. Instead of worrying about the size of the cake, Jhunjhunwala advised. He continued that the cake divides more effectively as it grows larger.
“Will I ever stop if I had ten times as much money as I do now? The reply is no, I won't! I'll just say that I'm still a middle-class guy. I treat every rupee as valuable," said India’s Warren Buffett.
On August 14, Rakesh Jhunjhunwala passed away from a sudden heart attack. He was 62.
