Jambhala (also known as Dzambhala, Dzambala, Zambala or Jambala) is the God of Wealth and appropriately a member of the Jewel Family (see Ratnasambhava). He is sometimes equated with the Hindu deity Kubera. Jambhala is also believed to be an emanation of Avalokitesvara or Chenrezig, the Bodhisattva of Compassion. There are five different wealth Jambhalas; each has his own practice and mantra to help eliminate poverty and create financial stability.
Gyalten Sogdzin Rinpoche said that Jambhala is the protector of all Lineages and of all sentient beings from all sickness and difficulties. Jambhala is a Bodhisattva of material and spiritual wealth as well as many other things, especially of granting financial stability.
”Because in this world, there are all kinds of wrathful and negative emotions or bad spirits, and sometimes they will harm you and other sentient beings, Dzambhala must take on such a wrathful and powerful form to protect us from these harmful spirits and negative karma. Especially, Dzambhala helps us minimize or decrease all misfortunes and obstacles and helps us increase all good fortune and happiness.”

Red Jambhala is depicted practising together with his consort, the heavenly mother of wealth that is in charge of wealth in the human realm. In ancient times, this deity was practiced mainly by kings and royalty. His practice is most suitable to people in high power, or to pray for high power, for it can attract people, wealth and fame. One will enjoy wealth in abundance and shall be well respected and supported by people. There is also the Red Jambhala magnetizing method that can bless the practitioner with marital bliss and a harmonious family.

Red Jambhala is the manifisation of Vajrasattva. He has two faces and four arms and holds a treasury mongoose on his left hand. His Tibetan name is Dzambhala Mapo. Red Jambhala has a red colored body, sits in the vajra position with Dakini in front of him. His right leg is panhandle with right foot is above a snail and lotus flower, his left leg is bent. He is holding an animal known as Nehulay (mongoose) in his left hand, his right hand holding Khorlo (Cakra), the Dakini holding Kapala containing Nectar in her left hand and Norbu Mebar in her right hand. The Mantra of Red Jambhala is:

Ganapati, Maha Rakta

Om Jambhala Jalendraye Dhanam Medehi Hrih Dakini Jambhala Sambhara Svaha
Some people believe he is the Hindu God of Wealth Ganesha, the Red Ganapati, and has the head of an elephant. After the rise of Tantric Buddhism, Ganesha became a Tantric wealth deity and is known as the "Lord of Provisions in Tibetan Tantrism". According to legend, Red Jambhala was in charge of the heavenly treasury that belonged to Lord Mahesvara’s son. Due to his extreme compassion, Red Jambhala had unfailingly answered the prayers of many worshippers. Enraged by Red Jambhala’s indiscriminate charity to both the good and evil, Dharma guardian Mahakala decapitated him. It was only after the wealth deity repents that Mahakala plants an elephant’s head on his neck and receives him as a retainer.

Matra of Red Jambala