When Rakesh Jhunjhunwala was asked about his crumpled shirt when he met PM: ‘Istri karaye thi ₹600 deke fir bhi...'
Often referred to as 'India's Warren Buffett' and the Big Bull of Indian markets, Jhunjhunwala's net worth was $5.8 billionDespite being enormously wealthy, Rakesh Jhunjhunwala lived a simple life
PremiumRakesh Jhunjhunwala, the self-made billionaire investor who was known for his unwavering bullish stance in the midst of market ups and downs as well as the verve and witticisms that characterised his public utterances died on 14 August. Often referred to as 'India's Warren Buffett' and the Big Bull of Indian markets, Jhunjhunwala's net worth was $5.8 billion, according to Forbes.
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Despite being enormously wealthy, Jhunjhunwala lived a simple life. In October 2021, when he met Prime Minister Narendra Modi, a photograph of on him went viral on social media as Jhunjhunwala wore a loose fitting crumpled white shirt.
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The picture was noticed after PM Modi tweeted the picture of the meeting. “Delighted to meet the one and only Rakesh Jhunjhunwala...lively, insightful and very bullish on India," he wrote.
Later, when he had attended the India Today Conclave, he was asked about his crumpled white shirt. Responding to the question, he said, “The white shirt will get crumple, what can I do. I had got my shirt ironed by paying ₹600, even after that it got crumpled. I even go to office wearing shorts, when there is no customer or client I look at things very differently."
He had also spoke about how his wife Rekha Jhunjhunwala who doesn't care if she is a billionaire. “Rekha Jhunjhunwala doesn’t bother if she is a billionaire or worth ₹200 million or 400. I look at it in the way that even if I have 10-15 per cent of the wealth that we have today, I’m going to drink the same whiskey, drive the same car, eat the same food, have the same holiday," he had said. "We are middle-class people. If I am staying at Taj Mansingh hotel, their fixed breakfast is much cheaper. So, I ask them (hotel)—where is your fixed breakfast?," he had added.
After his death, PM Modi had also condoled on his social media handle. In a tweet, he wrote, “Rakesh Jhunjhunwala was indomitable. Full of life, witty and insightful, he leaves behind an indelible contribution to the financial world. He was also very passionate about India’s progress. His passing away is saddening. My condolences to his family and admirers. Om Shanti."
Meanwhile, Jhunjhunwala had started his journey in stock markets while he was still in college with a capital of just ₹5,000. He recently teamed up with ex-Jet Airways CEO Vinay Dube and former IndiGo head Aditya Ghosh to launch Akasa Air -- India's newest budget carrier. The airline began commercial operations this month with a maiden flight from Mumbai to Ahmedabad.
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