Lessons To Learn from the life of Rakesh Jhunjhunwala
‘Big Bull’ Rakesh Jhunjhunwala died on 14th August 2022.
Rakesh Jhunjhunwala, a billionaire investor, entrepreneur, and philanthropist died on Sunday in Mumbai. He was 62 years old and often referred to as the “Big Bull” and “India’s Warren Buffet”. This wealthy businessman made investments that would likely return more than 100% every time, but his latest high-profile investment was with India’s newest airline company. Prime Minister Narendra Modi has offered his condolences for the loss of this great Indian pioneer.
The world’s 36th Richest man (according to Forbes), like most of the elite groups, was not a person born with privileges or resources, rather he learned his lessons the hard way. Let’s see what made Rakesh Jhunjhunwala so special in today’s world.
Who was Rakesh Jhunjhunwala?
Rakesh Jhunjhunwala was an investor, stock trader and an Indian business magnate. He passed away at the age of 62 on 14th August 2022. He was the chairman of Aptech and Hungama Media, he also sat on the board of directors for several other organizations like Geojit Financial Services, Provogue India, Concord Biotech and Viceroy Hotels.
Jhunjhunwala was born in Hyderabad and lived most of his life in the state of Mumbai. He worked as a chartered accountant in his earlier life, and had a keen interest in the trading market, he wanted to invest money in the market but his father refused to lend him any money and made sure he did not borrow any from his friends too. Rakesh ended up investing his savings in the market and since that day he never looked back.
He had his first breakthrough in the market and he bought 5000 shares of Tata worth Rs 43 each in the time of 3 months, the amount of shares rose to Rs 143. Now, in 2022, the amount of his invested shares was Rs 11000 Crores!
Lessons To Learn from the life of Rakesh Jhunjhunwala
Rakesh Jhunjhunwala has taught us several lessons throughout his life, he gave several appearances around the world and given speeches. Below mentioned are the essence of his own words.
Take Risks
He stated that “If you don’t take risks, you have nothing”. He was a firm believer in the fact that risk can only bring profit to your life, otherwise, your life is too basic and you will fail to grow and reach a peak in the market.
Take your risks in a very measurable way, risking your money blindly will bring you no good. Rather it will sink all your existing money too. “Smart Risking” is advisable, but making huge blunders that can put you into debt is not a wise decision.
Always know your roots
Rakesh Jhunjhunwala called himself a “middle-class man” even after being the world’s 36th richest man. Even his wife, in one of their interviews, stated that they would still wear the same clothes, have the same car, and would wear the same jewellery if the situation didn’t go in their favour.
They always believed that even if they had reached a height in their life, they should never forget from where they came. Rakesh Jhunjhunwala was wearing a crumbled shirt when he met the Prime Minister of India, stating that he would not spend Rs600 again on getting his clothes ironed.
Helping Others
Jhunjhunwala donated 25% of his wealth every year to charity work. He helped several cancer patients and even those sexually exploited children in need of help. He helps in spreading awareness for the same. In Navi Mumbai, he was building a new eye hospital where a total of 15000 patients could be treated at the same time that too absolutely free of cost.
Jhunjhunwala was a firm believer in the phrase “God help those Who help others”. We all can see how well that turned out to be for him.
Learn from your mistakes
If you take risks, you are bound to make mistakes. But the worst thing that you can do to yourself is to not learn from your mistakes. That is when you experience true failure. Just make sure that you make affordable mistakes so that you have enough money in hand to make another one.
If you are scared of making mistakes, you will hardly even get success.
Greed Kills
“Eat as much as you want, just make sure it is not too much”, Stated By Rakesh Jhunjhunwala. This shows that he was a firm supporter of people with a passion to move forward, but he also identified the thin line between passion and greed. Once you start craving for more and feel unsatisfied with what you have, you should realize you are crossing the line.
Greed is a negative emotion that will make you do stupid things and take irrational decisions. Believing that what you have is sufficient for you and at the same time fighting for more, is the trick to true success.
