RIP Rakesh Jhunjhunwala: Billionaire investor Rakesh Jhunjhunwala, often referred to as India's Warren Buffett, died on Sunday morning. He was 62. Jhunjhunwala was brought dead at the Breach Candy hospital early on Sunday morning. Suffering from kidney disease and ischemic heart disease, the hospital certified that cardiac arrest was the cause of his death. An investor with a Midas touch, he was the 48th richest man in the country. As the news of his death went viral, people on social media mourned the loss of Jhunjhunwala.
Calling him an inspiration, a user wrote, "An inspiration to millions of stock market traders and investors, Sark Rakesh Jhunjhunwala has left us. He will be remembered and lived in our hearts forever. Rest in Peace sir." Another said, One of the most visionary business magnates & investors of Indian Economy #RakeshJhunjunwala."
"It is very disappointing to hear that the "Big Bull" passing away. He is such a flamboyant personality in stock market. RIP #RJ," tweeted a third.
A self-made trader, investor and businessman, he was also known as the 'Big Bull' of Dalal Street. With an estimated net worth of around USD 5.8 billion (about Rs 46,000 crore), Jhunjhunwala was the 36th richest billionaire in India, according to Forbes' 2021 listing. Starting off his journey in stock markets while still in college with a capital of just Rs 5,000, he recently teamed up with ex-Jet Airways CEO Vinay Dube and former IndiGo head Aditya Ghosh to launch Akasa Air -- India's newest budget carrier. ALSO READ: Who is Salman Rushdie? Know about 'The Satanic Verses' book author
Jhunjhunwala had investments in more than three dozen companies, the most valuable being watch and jewellery maker Titan, part of the Tata conglomerate. His portfolio includes companies like Star Health, Rallis India, Escorts, Canara Bank, Indian Hotels Company, Agro Tech Foods, Nazara Technologies and Tata Motors. He was also the chairman of Hungama Media and Aptech and sat on the board of directors of firms such as Viceroy Hotels, Concord Biotech, Provogue India and Geojit Financial Services.
