Winning Bizness Desk
Mumbai. Late investor Rakesh Jhunjhunwala's trust will now be handled by his friend and mentor Radhakishan Damani as he has become the Chief Trustee of Rakesh Jhunjhunwala Trust. Apart from him, Kalpraj Dharamshi and Amal Parikh are the trustees, who will be taking over the daily affairs of the trust. Both of them are also considered to be the leutinent of Jhunjhunwala.
Rare Enterprises to continue
At the same time, Jhunjhunwala's Rare Enterprises will continue to be managed by two associates of Rakesh Jhunjhunwala, Utpal Seth and Amit Goela. Utpal Seth used to help Jhunjhunwala with investments and was mainly looking after private equity investments for the past few years. Amit Goela independently managed the trading book of the company. According to Forbes magazine, Jhunjhunwala has a net worth of around $5.8 billion. He was the 48th richest person in India. The total value of the shares he held in the listed companies was about Rs 30,000 crore.
Who is Radhakishan Damani
Almost everyone associated with the stock market knows Radhakishan Damani. Rakesh Jhunjhunwala considered him as his guru. Radhakishan Damani is the founder and top investor of retail chain D-Mart, having his portfolio more than Rs 1 lakh crore. Damani was a very good friend of late Rakesh Jhunjhunwala, besides being his mentor. He has shares of 25 companies. People associated with Rakesh Jhunjhunwala say that his wife Rekha Jhunjhunwala also comes from a business family and she also has an understanding of finance. She and his brother will have a major role in the management of the company.
Jhunjhunwala was running ill for 8 months
Rakesh Jhunjhunwala (62) was running very ill for the last 8 months and finally died on 14 August 2022 in Mumbai.Regarding his health, Jhunjhunwala once said that his worst investment is on his health. Seeing his deteriorating health condition, he had made a will in which he left the property worth billions in the name of his 3 children. The will is believed to have been prepared by Bergis Desai, former managing partner of J Sagar Associates.