Get the latest financial, economic and market news, instantly.
Subscribe
My Readse-paperNewslettersIFSC Code Finder NewMintGenieFor You
Switch to the app Download App
e-paper
OPEN APP
Home / News / India /  When Rakesh Jhunjhunwala’s father said Big Bull should be ashamed of himself

When Rakesh Jhunjhunwala’s father said Big Bull should be ashamed of himself

Rakesh Jhunjhunwala, Partner, Rare Enterprises, passed away at the age of 62.

The only bad thing about money is that you cannot take it with you after death, Rakesh Jhunjhunwala said in 2012.

Listen to this article
Your browser doesn’t support HTML5 audio

“After earning so much, I've come to the realisation that money cannot be an end in and of itself.," said Rakesh Jhunjhunwala 10 years back at EVOKE 2012. He also said that the only bad thing about money is that you cannot take it with you (after death). “Money means wealth, and wealth means power," he went on to say.

“After earning so much, I've come to the realisation that money cannot be an end in and of itself.," said Rakesh Jhunjhunwala 10 years back at EVOKE 2012. He also said that the only bad thing about money is that you cannot take it with you (after death). “Money means wealth, and wealth means power," he went on to say.

Big Bull said he belonged to a middle class family. When he was young, he had very rich friends. But, his father taught him: “Always aspire, never envy." He thought he had a legal right and the aspiration to want the greatest fortune in the world as long as he employed the proper methods.

Big Bull said he belonged to a middle class family. When he was young, he had very rich friends. But, his father taught him: “Always aspire, never envy." He thought he had a legal right and the aspiration to want the greatest fortune in the world as long as he employed the proper methods.

And, then, he gave a valuable lesson in life for those wanting to be wealthy. If we come across someone wealthy or powerful, we should constantly strive to be like them rather than feeling envious because jealousy leads to resentment and conflicts, according to India’s Warren Buffett.

And, then, he gave a valuable lesson in life for those wanting to be wealthy. If we come across someone wealthy or powerful, we should constantly strive to be like them rather than feeling envious because jealousy leads to resentment and conflicts, according to India’s Warren Buffett.

Rakesh Jhunjhunwala spoke about his father, whose primary preoccupation throughout his entire life had been what RJ ought to be doing with his fortune. His father was a middle-class man, and Jhunjhunwala shared a home with him for the entirety of his life. The son always resided in the father’s house; the father never lived in the son’s house. His father never gave a hoot about how wealthy he was; instead, he was more interested in how much charity he gave.

Rakesh Jhunjhunwala spoke about his father, whose primary preoccupation throughout his entire life had been what RJ ought to be doing with his fortune. His father was a middle-class man, and Jhunjhunwala shared a home with him for the entirety of his life. The son always resided in the father’s house; the father never lived in the son’s house. His father never gave a hoot about how wealthy he was; instead, he was more interested in how much charity he gave.

Rakesh Jhunjhunwala learned the value of giving from his father. He instructed the billionaire investor to give everybody who came to his door and requested money either 100 or 1 lakh, depending on how he felt, but never to let them go without receiving anything.

Rakesh Jhunjhunwala learned the value of giving from his father. He instructed the billionaire investor to give everybody who came to his door and requested money either 100 or 1 lakh, depending on how he felt, but never to let them go without receiving anything.

When his father came to know that he was among the Forbes list of billionaires, he said, he was very happy to know that his son was on the list. But, at the same time, he thought his son should be ashamed of having billions of dollars of money without giving away a few dollars in charity.

When his father came to know that he was among the Forbes list of billionaires, he said, he was very happy to know that his son was on the list. But, at the same time, he thought his son should be ashamed of having billions of dollars of money without giving away a few dollars in charity.

At the event, which the US Consulate organised in Mumbai, Jhunjhunwala said that he realised that he had much less riches than people believed he did, but much more than what he actually needed.

At the event, which the US Consulate organised in Mumbai, Jhunjhunwala said that he realised that he had much less riches than people believed he did, but much more than what he actually needed.

Jhunjhunwala said, for a 50-year-old man like him, life expectancy was limited because if he consumed six pegs of whiskey daily, smoked 25 cigarettes per day, did not exercise, and ate ‘like a pig’.

Jhunjhunwala said, for a 50-year-old man like him, life expectancy was limited because if he consumed six pegs of whiskey daily, smoked 25 cigarettes per day, did not exercise, and ate ‘like a pig’.

A sudden cardiac arrest claimed the life of renowned stock market investor Rakesh Jhunjhunwala on August 14. He was 62.

A sudden cardiac arrest claimed the life of renowned stock market investor Rakesh Jhunjhunwala on August 14. He was 62.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint.Download The Mint News App to get Daily Market Updates.