A Story of Humility: Elderly Individual Owns Rs 101 Crore in L&T, UltraTech, and Karnataka Bank Shares

Elderly man with Rs 101 Cr shares lives simply, sparking online buzz & discussions on wealth, simplicity, and smart investing

A Story of Humility: Elderly Individual Owns Rs 101 Crore in L&T, UltraTech, and Karnataka Bank Shares

Wednesday September 27, 2023,

3 min Read

In an era where simplicity is overshadowed by relentless pursuit of wealth, a viral video on Twitter brought to light an inspirational figure: an elderly man whose lifestyle embodies simplicity and frugality, even as he holds shares totalling Rs 101 crore.

The viral video, shared by Twitter user Rajiv Mehta, reveals the elderly gentleman's holdings in major companies: Rs 80 crore in L&T, Rs 21 crore in Ultratech Cement, and Rs 1 crore in Karnataka Bank. Remarkably, the man’s humble demeanor and straightforward way of living have won over netizens, making the video a focal point for discussions on wealth, lifestyle, and investment strategies.

What has intrigued many is not the wealth he possesses but the unassuming life he leads. The video, which has amassed around 400,000 views, sparked widespread commentary and reflection among the online community. Users have engaged in discussions, admiring the man’s steadfast approach to investments and his resilience in not succumbing to impulsive decisions during market fluctuations.

Deepak Shenoy, the Founder and CEO of Capital Mind, weighed in on the discussion, stating that the elderly shareholder’s assets, including 27,000 L&T shares, Ultratech shares, and Karnataka Bank shares, indeed represent a substantial value. Shenoy’s rough estimate suggests a total worth of approximately Rs 8 crore, Rs 3.2 crore, and Rs 10 lakh for each shareholding respectively, concluding with a message of empowerment and support for the elderly investor.

However, reactions to the viral video have been mixed. While some users lauded the man for his disciplined investment approach, others expressed concerns over his apparent reluctance to spend the accrued wealth. A user highlighted the challenges that some individuals face in transitioning from saving to spending, even when their financial situation allows for more flexible expenditure.

Vinod Jhaveri, CEO at VKJ Investments, offered a different perspective. He underscored the importance of timely profit booking, cautioning against holding onto shares of companies whose value has deteriorated over time. The CEO cited examples of investors clinging to shares of companies like Scindia Shipping and Unitech, which have lost their market value, emphasising that discerning when to sell is as crucial as knowing when to invest.

As the video continues to resonate with viewers, it ultimately underscores the profound impact of wise investment decisions, the potential of wealth creation through the power of compounding, and the timeless allure of a simple, unpretentious lifestyle. The elderly man's story is not just a testament to financial acumen but also a reminder that wealth and simplicity can coexist harmoniously, offering valuable lessons for both seasoned and aspiring investors alike.

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