Accordingly Jhunjhunwala grew up in Mumbai, India where his father was posted as an Income Tax Officer. He graduated from Sydenham College and thereafter enrolled at the Institute of Chartered Accountants of India. Reportedly Jhunjhunwala is the chairman of Aptech Limited and Hungama Digital Media Entertainment Pvt Lts and sits on the board of directors of various Indian companies such as Prime Focus Limited, Geojit Financial Services, Bilcare Limited, Praj Industries Limited, Provogue India Limited, Concord Biotech Limited, Innovasynth Technologies (I) Limited, Mid Day Multimedia Limited, Nagarjuna Construction Company Limited, Viceroy Hotels Limited and Tops Security Limited.

Furthermore he is popularly referred to as the "Warren Buffett of India" and the "King of Bull Market". As per report Jhunjhunwala's stocks fell by up to 30% in December 2011 and he recovered his losses in February 2012. Furthermore these ups and downs forced him to reduce his vulnerability by trimming his portfolio to one third and also his attempts to divest his Aptech stake had no takers. 

Moreover Jhunjhunwala invested ₹26 Crores ($4.6 Million) in increasing his stake in the company by 3.57%, upping his stake in the company to 23.2% and moreover he is also credited as a producer of the 2016 movie Ki & Ka. As a son of an income tax officer, he began investing in stocks while he was studying chartered accountancy in college. Hence in contrast to his reticent mentor Radhakishan Damani, Jhunjhunwala has a much more public persona. Furthermore his family’s net worth crossed Rs 10,000 crore recently. Earlier in 2016, he pledged to donate at least 25% of his wealth or Rs 5,000 crore, whichever was lower, in 2020, when he turns 60. According to Forbes, his current net worth is around $2.3 billion.