Curated By: Business Desk
Last Updated: August 14, 2023, 10:53 IST
Late Rakesh Jhunjhunwala, affectionately remembered as India’s Big Bull for his astute stock market investments, left behind a substantial estate valued in billions upon his demise at the age of 62. As his family mourns his passing, his wife Rekha Jhunjhunwala is steadfastly shouldering the responsibility of safeguarding his legacy, financial heritage, and significant stock portfolio.
With an adept hand, Rekha Jhunjhunwala has taken over the reins of her husband’s business operations and stock holdings, skillfully overseeing a diversified portfolio that spans numerous companies and generates substantial profits in crores of rupees. In the wake of her husband’s death, Rekha has been cautious about stepping into his shoes, visiting the office only when necessary.
“Preserving the legacy means guaranteeing that her children grasp his mindset and principles,” Rekha shared in a recent interview. She emphasizes that while the wealth aspect is important, her late husband provided them with security and meticulously planned for their future. Even their new residence, a testament to his vision, was meticulously designed by Rakesh Jhunjhunwala in collaboration with architects and designers.
A year has passed since the untimely demise of the renowned investor, and the Jhunjhunwala family has recently transitioned to a new residence. Despite reservations about leaving their cherished penthouse at Il Palazzo, Rekha was gradually coaxed into the move by her children, who cleverly shifted their belongings over time. The new home marks the beginning of a new chapter for the family while preserving the memories of their former abode.
Rakesh Jhunjhunwala’s journey, starting as a full-time professional with a modest Rs 5,000 in 1985, has become legendary. His legacy lives on through his wife, who Forbes magazine now recognizes as one of the wealthiest women in India, boasting a remarkable net worth of $5.7 billion. The most valuable asset in her portfolio is Titan, a watch and jewellery manufacturer under the Tata Group. Riding the wave of Titan’s shares surging by 65 per cent, Rekha Jhunjhunwala has reaped substantial gains, amassing Rs 2,400 crore.
In a strategic move, Rare Enterprises, the private equity investment and asset management firm established by Rakesh Jhunjhunwala in 2003, divested 4.98% of shares in Rallies a month ago, selling them back to Tata Chemicals for Rs 208 crore. This move further highlights the strategic acumen that both Rakesh and Rekha Jhunjhunwala are known for.
