City Reports

Rakesh Jhunjhunwala death: The real story behind Big Bull’s surname

Rakesh Jhunjhunwala originally hailed from Malsisar town, located about 40 km from Jhunjhunu town in Rajasthan.

August 14, 2022, 1:43 pm

rakesh jhunjhunuwala

rakesh jhunjhunwala

JAIPUR: Ace investor Rakesh Jhunjhunwala was called by many names including The Big Bull, The King of Dalal Street and India’s Warren Buffett, but the people in Rajasthan know him for his surname – Jhunjhunwala.

Rakesh Jhunjhunwala originally hailed from Malsisar town, located about 40 km from Jhunjhunu town in Rajasthan. Jhunjhunu is a district headquarter.

It’s a common practice in Rajasthan that many people use the name of their native place as a surname. For example, Singhania Industries owners belong to Singhana town of Jhunjhunu. When Rakesh's grandfather moved from Malsisar to Kanpur, he was called Jhunjhunwala due to the fact that he was from the Jhunjhunu district, which later became his surname.

Rakesh Jhunjhunwala's grandfather along with his family migrated to Kanpur in Uttar Pradesh. The family got involved in the business of silver and made a fortune.

Rakesh Jhunjhunwala's father Radheshyam Jhunjhunwala was an IRS officer. He served as the Commissioner of Income Tax in Hyderabad, Kolkata and Mumbai. Rakesh was born on 5 July 1960 during the Hyderabad posting. Mother Urmila Jhunjhunwala was a housewife.

Rakesh Jhunjhunwala originally belongs to the Agarwal caste, an influential caste that is known for its business and trade skills.

Rakesh Jhunjhunwala had invested Rs 31 crore in Jaipur-based Raghav Productivity Enhancers Limited. Jhunjhunwala bought 6,00,000 Compulsory Convertible Debentures (CCDs) worth Rs 30.9 crore, which were converted into shares 18 months after the date of CCD allotment.

Rakesh had visited a temple – Rati Sati Mandi – in Jhunjhunu about eight months ago.

Rakesh Jhunjhunwala passed away in Mumbai at the age of 62. Born on 5 July 1960, Rakesh Jhunjhunwala breathed his last on 14 August 2022 in Mumbai.

First published: August 14, 2022