'Mrs Jhunjhunwala' to 'Rekha Jhunjhunwala': How the new custodian of wealth is f
She was her husband's biggest cheerleader for decades and rooted for him from the sidelines. Over one-and-a-half years after the death of ace investor Rakesh Jhunjhunwala, the homemaker has made a rel
For decades, she led a contented life and was elated to be the cheerleader. The Big Bull, too, often talked about the role played by his wife. “She knows nothing about stocks, but she has been my biggest support along with my dad and mother," he had once remarked in an interview with investor Ramesh Damani. “She comes from a wealthy family… and has always stood by me in my highs and lows," he underlined. “She never asked for anything except an air-conditioned (AC) room," he said, referring to his formative years of trading when the chartered accountant was still finding his feet in the stock market. ‘I didn’t have a car and an AC," he said.
Decades later in Mumbai, the 14-storey bungalow of Jhunjhunwala in Malabar Hill is all about the way the Big Bull aspired and lived his life: King size. Spread over a staggering 70,000 square feet, the imposing building is dotted with exquisite statutes of Lord Ganesha. As one enters the 12th floor, which was earmarked for the couple, a warm, smiling picture of Rakesh greets you. “He hated frowning faces," says Jhunjhujwala.
Philanthropy was one of the tools used by the late investor to stay happy and spread happiness. His wife sees no reason to tread away from the path. “I am continuing with the Rare Family Foundation’s work," she says, adding that she has joined the board of Sri Kanchi Kamakoti Medical Trust, the trust behind the Sankara Eye Foundation. She has also joined the board of Agastya International Foundation, which works on developing curiosity and understanding of science among children. “There is no future without education," she says, underlining her husband"s love for books. “He was a well-read man."
The capacious 14th floor reflects the hunger of the man who was a foodie as well. There are rows of bookshelves stacked with the favourite reads of the ace investor. Warren Buffet’s Ground Rules, Buffet: The Making of an American Capitalist by Roger Lowenstein, House of Cards: How Wall Street’s Gamblers Broke Capitalism by William D Cohan, Investment Fables by Aswath Damodaran, Homo Deus: A Brief History of Tomorrow by Yuval Noah Harari, The Old Man and the Sea by Ernest Hemmingway, An Uncommon Man by RK Laxman, and Oh! Those Parsis by Berjis Desai…Rakesh Jhunjhunwala was always in a hurry to read and learn. “He was always bullish on the India story, and I also feel the same," she says.

The ace investor made it a point to keep Rekha abreast of critical matters at a 36,000 feet level," contends Berjis Desai, a senior lawyer and confidante of the ace investor. “As a result, she can now shrewdly assess people and issues without going into granular details." Rakesh, he adds, structured his transition well by ensuring that people whom he trusted were able to steer the ship until the next-gen was ready. “She instinctively knows whom to consult about what. This has resulted in growing maturity of decision making," adds Desai.

Jhunjhunwala underlines that she is happy preserving and continuing with the legacy. “His portfolio has always done well, and earnings have compounded," she says. “There is no need to mess up with a good thing," she says, adding that she would still prefer to be known as ‘Mrs Jhunjhunwala’ rather than ‘Rekha Jhunjhunwala’.
Her husband, though, once mentioned the inconspicuous power of his wife. “She is the queen of the house," he once reportedly said. “And when I am not there at the house, she is both Queen and the King." Twenty months after his death, Rekha Jhunjhunwala is indeed the queen as well as the king.
First Published: Apr 24, 2024, 11:05
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