The Indian Stock Market Bull called Rakesh Jhunjhunwala is no more alive now. As per Media Reports, Rakesh Jhunjhunwala Death is due to Kidney Ailments and he passed away in the morning of 14 August 2022 @ 6:45 AM at Breach Candy Hospital.
Ace stock market investor Rakesh Jhunjhunwala died this morning at a Mumbai hospital. He was also the co-founder of Akasa Air, India’s newest airline which began commercial operations last week.
Along With Kidney Failure, Hospital Reported that he was bought Dead and there were Multiple Organ Failures. Moreover, Rakesh Jhunjhunwala Net Worth is of more than 5.5 Billion USD and is said to be the biggest Share Market Investor till now.
He Started his career in Mumbai with mere Rs 5,000/- in his pocket which he Invested in Indian Share Market. Rakesh Jhunjhunwala Death News saddened many people across India and it is now a topic of Talk for people.
Here in this post, you can see Rakesh Jhunjhunwala Death Reason, Rakesh Jhunjhunwala Net Worth and most importantly, Rakesh Jhunjhunwala Biography using which you can get complete knowledge about Biggest Stock Market Investor of India.
Rakesh Jhunjhunwala Biography
| Name | Rakesh Jhunjhunwala |
| Date of Birth | 5th July 1960 |
| Place of Birth | Jhunjhunu |
| Died | 14 August 2022 (Aged 62 Years) |
| Cause of Death | Kidney Failure |
| Profession | Stock Market Investor and Businessman |
| Name of Wife | Rekha Jhunjhunwala |
| Childrens | Three Childrens |
| Father Name | Not Known (He was Income Tax Commissioner) |
| Education | CA (Chartered Accountant) |
| Rakesh Jhunjhunwala Net Worth | Rs 40,000 Crore |
This Table above represents the Rakesh Jhunjhunwala Biography and all the related information to him. Rakesh Jhunjhunwala Passed away today on 14 August at the age of 62 Years due to Kidney Failure. As per sources available with us, he left 3 Children behind and is having Net Worth of More than Rs 40,000 Crore.
Rakesh Jhunjhunwala is also known as Big Bull of Indian Share Market and has started his career in Market with Rs 5,000/- Investment. Currently, he holds a huge portfolio of more than Rs 11,000 Crore in Market. Along With this, he recently started Akasa Airlines with Viney Dubey and Jhunjhunwala Holds more than 45% Holdings in it.
Rakesh Jhunjhunwala Net Worth
- Net Worth of Rakesh Jhunjhunwala is of more than Rs 40,000 Crores.
- He is the 36th Richest Person in India with Many Companies in his hand.
- His Latest Venture in the Airline Industry is Akasa Airlines.
- Rakesh Jhunjhunwala Net Worth includes his Rs 11,000 Crore Investments in Indian Share Market.
- Biggest Investment in Share Market Includes Rs 7,000 Crore investment in Titan Company.
- So this is complete information about Rakesh Jhunjhunwala Net Worth.
Rakesh Jhunjhunwala Death Reason
- Rakesh Jhunjhunwala Death Reason is Kidney Failure.
- He Died in Early Morning of 14th August 2022.
- Rakesh was discharged a Week Ago from Breach Candy Hospital.
- Today he was brought to Hospital at 6:30 AM and Hospital Declared him dead.
- Along With Kidney Failure, Rakesh Jhunjhunwala suffered Multiple Organ Failure.
- He was Suffering from Medical Ailments for the past 3 Years.
- So these are some of the Rakesh Jhunjhunwala Death Reasons.
Effects of Rakesh Jhunjhunwala on Share Market
The Death of Sir, Rakesh Jhunjhunwala has shaken the share market. Lakhs of condolences messages has been posted on the Twitter. He has played a major role in the building of the Indian economy. He was the 48th richest businessmen of our nation.
He has major share holding in Titan, CRISIL, Aurobindo Pharma, Praj Industries, NCC, Aptech Limited, Ion Exchange, MCX, Fortis Healthcare, Lupin, VIP Industries, Geojit Financial Services, Rallis India, Jubilant Life Sciences.
Rakesh Jhunjhunwala Portfolio
Rakesh Jhunjhunwala and Associates publicly holds 32 stocks of over Rs. 31,904.8 crore. His major holdings in some of the biggest companies are detailed below.
Rakesh Jhunjhunwala Death, Net Worth, Biography
He was born on 5th July, 1960 in Mumbai. On 14th August, 2022 Rakesh jhunjhunwala was declared dead at 6:45 A.M. Due to Kidney failure at Breach Candy hospital, Mumbai.
Rakesh Jhunjhunwala’s wife Rekha Jhunjunwala is also a stock market investo Rakesh has three children 1 daughter Nishtha Jhunjhunwala and two sons Aryaman Jhunjhunwala, Aryavir Jhunjhunwala.
Rakesh Jhunjhunwala was rushed to the Breach Candy Hospital in Mumbai at around 6.45 am after he suffered a cardiac arrest. He was declared dead on arrival by the hospital authorities. He was 62.
Jhunjhunwala was suffering from multiple health issues and was discharged from the same hospital a few weeks ago after being treated for kidney-related issues.
The veteran trader-cum-investor, known as the Big Bull of Dalal Street, was reported to have a net worth of around $5.8 billion, according to Forbes. He was the 36th richest billionaire in India.
He had recently teamed up with ex-Jet Airways CEO Vinay Dube and former IndiGo head Aditya Ghosh to launch Akasa Air – which took to the skies last week. He was seen on a wheelchair at the launch of Akasa Air.
Rakesh Jhunjhunwala was also dubbed as “India’s Warren Buffett” who was mostly bullish about the country’s stock market. He forayed into the aviation industry at a time it had suffered huge losses due to the Covid-19 pandemic. On being asked, he said, “A lot of people question why I’ve started an airline. It’s better to have tried and failed than not tried at all.”
Overall, Jhunjhuwala had investments in more than three dozen companies. Titan, Star Health, Tata Motors and Metro Brands were some of his largest holdings. He was also the chairman of Hungama Media and Aptech.
His privately-owned stock trading firm Rare Enterprises derived its name from the first two letters of his name and that of his wife Rekha, who is also an investor.
Rakesh Jhunjhunwala was born on July 5, 1960. His father worked as an Income Tax officer in Mumbai. He graduated from Sydenham College and thereafter enrolled at the Institute of Chartered Accountants of India.
Jhunjhunwala began investing with ₹ 5,000 in 1985 when the Bombay Stock Exchange’s benchmark index Sensex was at 150; it now trades at over 59,000.
Prime Minister Narendra Modi condoled his death and said the legendary investor “leaves behind an indelible contribution to the financial world.” Union Minister for Civil Aviation Jyotiraditya Scindia said he will be remembered for giving India its new airline Akasa Air after more than a decade.
Bullish on India
Market veteran Ajay Bagga told the BBC that Jhunjhunwala “personified the India story”.
“[He was] a young middle-class boy rising up the ranks to build such a vast fortune, and setting the stage for the growth momentum in the Indian financial markets,” he said.
Mr Bagga added that Jhunjhunwala had an infectious “optimism for India”. That optimism was reflected in Jhunjhunwala’s other famous nickname – the Big Bull of Dalal Street, a reference to the address of the Bombay Stock Exchange.
Jhunjhunwala remained optimistic till the end – a week before his death, he told news channel CNBC-TV18 that regardless of global economic conditions, he believed that Indian markets would grow, “but at a slower pace”.
How Jhunjhunwala made money?
The son of an income tax officer, Jhunjhunwala has said that he became fascinated with stocks as a child after watching his father balance his market investments.
Jhunjhunwala began investing in the stock market in 1985, when he was 25 years old – he started off with $100 that he had borrowed from a relative, reports say.
He later set up Rare Enterprises – the name was coined from the first two letters of his name and that of his wife Rekha.
He had the reputation of being a risk-taker in his investments, many of which paid off spectacularly.
In a 2021 profile, Forbes wrote that while Jhunjhunwala “acquired his legendary Midas touch by picking winning stocks”, he has also recently started seeing his private equity investments pay off.
A decade ago, he told Reuters in an interview that he didn’t like being called “India’s Warren Buffett”, adding that the Berkshire Hathaway CEO was “far, far ahead” of him.
“I’m not a clone of anybody. I’m Rakesh Jhunjhunwala,” he had said.
“He was very good at reading businesses and had conviction, passion and very blunt opinions about things,” said businessman Motilal Oswal, who set up one of India’s leading brokerages.
Jhunjhunwala had recently backed Akasa Air, India’s newest budget airline, which began operations earlier in August. While the Covid pandemic had ravaged domestic air travel for the past two years, passenger traffic has risen sharply this year.
The veteran stock market investor was a self-made trader, and invested in several established businesses and startups, including the country’s newest airline Akasa Air. Known for his selection of stocks for long-term investing, Jhunjhunwala was among the most influential market voices in India.
While equity investments in the world’s second-most populous nation are yet to emerge as a major source of household savings and form less than 5% of assets, the south Asian nation has in recent years experienced a frenzy of retail investments in the equity market.
India has added about 58 million new retail investors, more than the population of South Korea, since the outbreak of the pandemic in early 2020.
Prime Minister Narendra Modi confirmed Jhunjhunwala’s death in a post on Twitter. He said the investor was “indomitable” and left behind “an indelible contribution to the financial world.”
Jhunjhunwala, known as “Big Bull” in India, said in an interview with Bloomberg in 2005 that his strategy of picking stocks ahead of their growth cycle was inspired by US billionaire George Soros and Hong Kong investor Marc Faber, while Chairman and Chief Executive Officer Warren Buffett was one of his role models.
Prime Minister Narendra Modi took to Twitter to express his condolences. was indomitable. Full of life, witty and insightful, he leaves behind an indelible contribution to the financial world. He was also very passionate about India’s progress. His passing away is saddening. My condolences to his family and admirers. Om Shanti,” the Prime Minister said in his tweet.
Home Minister Amit Shah, followed the Prime Minister and said that he was anguished to learn about the passing away of Rakesh Jhunjhunwala. “Anguished to learn about the passing away of Rakesh Jhunjhunwala Ji. His vast experience and understanding of the stock market have inspired countless investors. He will always be remembered for his bullish outlook. My deepest condolences to his family. Om Shanti Shanti,” the Union Minister said.
Uday Kotak, the CEO of Kotak Mahindra Bank was also seen remembering the ace investor on Twitter. “Rakesh Jhunjhunwala: my school and college mate. One year my junior. Believed stock India was undervalued. He is right. Amazingly sharp in understanding financial markets. We spoke regularly, more so during Covid. Will miss you Rakesh!,” he said on the social networking website.
India’s richest man Gautam Adani was also among those mourning the death of the billionaire investor. “Extremely saddened by the untimely passing away of the most legendary investor that India has had. Shri Jhunjhunwala inspired an entire generation to believe in our equity markets with his brilliant views. We will miss him. India will miss him but we will never forget him. RIP,” Gautam Adani said.
Even marquee names from Dalal Street tweeted about their memories of the investor. Samir Arora, Founder & Fund Manager of Helios Capital reminisce his days with the big bull. “Very sad news. Rakesh was a great guy with a big big heart. I always fondly remember that he gave a farewell party when I was moving from Mumbai to Singapore and gave me a sculpture of Saraswathi which we still have,” he said on Twitter.
Another doyen of Dalal Street, Sanjiv Bhasin, Director of IIFL Securities wrote ‘#bigbull RIP”.
Independent investment advisor Sandip Sabharwal too remembered Rakesh Jhunjhunwala’s bullishness. “Sad to hear of #Rakeshjhunjhunwala passing away His bullishness was infectious. Will be missed. May his soul RIP,” Sabharwal said.
Reflecting back on Rakesh Jhunjhunwala’s conviction in India’s growth story, Securities Lawyer Sandeep Parekh said on Twitter that Rakesh Jhunjhunwala was a legend who could speak human. “His folksy speeches could convince non-believers in the India story. He left us just as we celebrate India’s Independence, success and growth. Om shanti,” he added. The lawyer even suggested that Dalal Street should be re-named to Rakesh Jhunjhunwala Marg. “‘Marg’ word is important – he showed so many of us the marg ahead.”
Rakesh Jhunjhunwala’s first big profit came from this Tata group stock
Ace investor with Midas touch Rakesh Jhunjhunwala passed away in early morning on Sunday due to cardiac arrest. The Big Bull of Dalal Street began investing in stocks with ₹5,000 and according to Forbes, Rakesh Jhunjhunwala net wealth today is 5.8 billion.
Remembering Rakesh Jhunjhunwala: Why the Big Bull was a bear when it came to startups, cryptocurrencies
eteran investor Rakesh Jhunjhunwala passed away on Sunday morning. The investor with had been dubbed “India’s Warren Buffet.” If sources are to be believed, the investor was brought to the Breach Candy Hospital at 6:45 AM and was declared dead.
He was suffering from multiple health issues including kidney ailments and had been discharged from the hospital a few weeks ago, they said. Both a trader and a chartered accountant, and one of the richest men in the country, he was last seen in public at Akasa Air’s launch.
Jhunjhunwala was also chairman of Hungama Media and Aptech, as well as a director of Viceroy Hotels, Concord Biotech, Provogue India, and Geojit Financial Services.
As the news of his death went viral, people on social media mourned the loss of Jhunjhunwala. “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,” wrote a Twitter user. Here are a few tweets:
Jhunjhunwala had successfully invested in Titan, CRISIL, Sesa Goa, Praj Industries, Aurobindo Pharma, and NCC over the years. His stock prices fell by 30% following the 2008 global recession, but recovered by 2012.
When Jhunjhunwala was in college, he began dabbling in the stock market. He enrolled at the Institute of Chartered Accountants of India, but after graduating, he decided to dive headfirst into Dalal Street. Jhunjhunwala invested Rs 5,000 in capital in 1985. That capital had grown to Rs 11,000 crore by September 2018.
If there was one man who could make everyone sit up and listen to him, it was Rakesh Jhunjhunwala. His high-pitched rhetoric transfixed all who listened to him, mainly because he passionately believed something that we would all like to believe as well:
Our own great future. His conviction in the future of India was spell-binding, to say the least. Jhunjhunwala, 62, was an icon for millions of wannabe stock market millionaires. Everyone is aware that his riches were created through stocks he held for many, many years and the wait that proved to be worth it.
What is less talked about is the serious risk that accompanied these investments when they were made. Even less known is the fact that it was his aggression in trading that had been his primary source of capital.
The adulation for RJ is not just because of his long-running track record in investing but also because he had maintained his dignity for so long in stock markets, where high fliers have often turned out to be dubious or at least have tarnished their reputation at some point or the other.
At a comparatively young age of 15, my fathers’ conversations with various people introduced me to the world of stocks and stock markets. I started reading the daily stock quotations in the newspapers and realised that stock values fluctuate and I found that fascinating.
I was a curious child and was constantly quizzing my dad as to why these values fluctuate. He asked me to relate fluctuations to the news items appearing in the newspapers, thus, beginning the unending process of my education as an investor.
I was told that profit and loss accounts and balance sheets play an important role in determining stock values, and thus I started reading every annual report that I could lay my hands on and scanned the newspapers for news on companies’ profits.
In the meanwhile, I completed my graduation and started my chartered accountancy. I soon realised that companies have the highest quantum of profits, or highest reserves and surplus, or that the highest net worth need not necessarily have the highest stock price. I read somewhere that “A balance sheet is like a bikini – what it reveals is alluring, what it hides is vital.” I learnt that this is right.
On completing my CA in 1984, I accepted the challenge of making a career by investing and trading in stocks. I started following stocks and markets very intensively, for stocks were now my livelihood, and I learnt that it’s not the sheer quantum of profits, but the quality of profits that matters as much.
I was introduced to a simple mathematical equation. Earnings per share (EPS) x price earnings ratio (PER) = price. It was apparent that when both the variables determining price, that is, EPS and PER gain, the stock prices explode.
I believe that when we invest in a company, we invest in a business model. All profits arise due to certain prevalent factors which are dynamic in nature. In my analysis, rather than trying to project absolute profitability, I try to understand the reasons and circumstances that give rise to these profits.
I learnt that EPS was very specific to each company, while the PER was dependent on various factors, both internal and external to the company. We could not look only at the sheer EPS of a company, but there was a need to look at the quality of EPS. The quality depended mainly on three factors: the accounting policies followed, cash profile of the profits, and, return on capital employed, that is efficient use of capital.
The internal conditions that determine PER include the reward records of the company, predictability of earnings, risk model, perceived growth opportunity, and the perceived integrity of the management.
I also learnt that markets disproportionately reward companies that are leaders, innovators and performers. We can predict future prices by predicting future EPS and PER, but in order to predict future profits, we need to understand real-life business.
While predicting a company’s profit, I assess the following:
The addressable external opportunity is available to the company. The scope of demand for the product or service of the company determines its addressable external opportunity. To illustrate, the profitability of Infosys fluctuates primarily with global demand for software services; Colgate India’s growth is dependent on the size and the growth of the toothpaste market in India.
The competitive ability of the company: This means delivering quality products/services at the lowest price to the widest customer base. I judge whether the company has a significant competitive ability to capture the opportunity in a profitable manner over a sustainable timeframe.
This ability is a synthesis of various factors and can arise due to technology, marketing skills, locational advantages, network size, capital availability and size, skilled people, etc. Generally, this is not due to any single factor but is chemistry of various ingredients.
The effect of operating leverage on profits.
Scalability and integrity of the company: To illustrate, I remember reading about a Maruti car saying, “When I grow up, I shall be Mercedes.” Alas, many companies never grow up to become a Mercedes and remain Marutis despite optimistic assumptions of investors.
This happens because the management is unable to scale up the business. This primarily happens because they may not have the vision, or risk appetite, or meritocracy, or the systems and processes needed to scale up the business.
I believe the prediction of EPS is mainly science and partly art. But prediction of PER is an art, with very little science. It is a chemistry that can be mastered only by experience. Like cooking and sex, it cannot be taught, but it has to be learnt. I learnt that understanding/predicting PEs is the most difficult of all and the most critical factor to successful investing.
When I evaluate an entry price, I always look for a margin of safety. I look at the gap between the entry price and the price in a scenario in which most of the positive assumptions don’t pan out as expected.
The ingredients of successful investing lie in locating gaps between current expectations and future likely performance which provide me favourable odds as an investor.
Perhaps the single biggest error in the investment business is failure to distinguish between knowledge of a company’s fundamentals and the expectations implied by the stock price. When a company has strong fundamentals, investors tend to buy irrespective of expectations.
Similarly, weak fundamentals cause investors to avoid a stock. These tendencies lead to an inability to properly calibrate the odds, producing suboptimal performance. The issue is not which stock will be the winner, but rather, which companies are available at valuations that promise superior returns.
Understanding market expectations reflected in the odds (valuations) is as important as understanding fundamental business performance.
The great investor, Warren Buffett, has said, “Interest rate acts like gravity on all financial assets.” It is a fact that a declining interest rate is a great positive for stock valuations, and vice versa. In fact, one of the major reasons, Indian stocks went up in the earlier bull market was the continuous and secular decline in interest rates in the country.
One of my friends always says: ‘Trend is my friend’. The market always trends either upwards of downwards. As an investor, I learnt not to pre-empt trends, we must allow the trend to spend itself and only then react. Like all material things in life, even investing has a four-letter word attached to it – risk.
I learnt that investing is risk taking, if anything. All risk taking associated with two human emotions, that is, fear and greed- greed of profits and fear of losses. The ability to strike the right balance between fear and greed is the most vital determinant of profitable risk taking.
Experience taught me that markets are prone to irrational exuberance, that is, bouts of extreme optimism as also manic depression, that is, bouts of extreme pessimism.
I think the price of Infosys in March 2000 at Rs.14,000 represented irrational exuberance, while the price of Rs.2,300 in September 2001, represented manic depression. It is such pendulum shifts from depression to exuberance or vice versa that create the opportunity to invest/disinvest wisely/profitably and to make money.
Over the years, I have learnt that not only is it critical and extremely difficult to identify such inflection points, it is more difficult to deal with such situations.
When markets are experiencing irrational exuberance (making money in the stock market is taken as a birthright), to be in cash and to be over-invested when the markets are gripped by fear and extreme pessimism, is as you all know easier said than done.
“In markets, it sometimes feels like being under-sexed in a harem and over-sexed in a desert.” I think good investors should be always feeling under-sexed when there is depression and over-sexed when there is irrational exuberance.
It’s a fact that one cannot be a successful investor without understanding the markets. Markets are the temples of capitalism. I have learnt that markets are ruthless and very intelligent. A market participant should always respect markets as being the ultimate arbitrators and deciders.
I believe that the markets always decide rightly and correctly over a sufficient period of time. Sometimes, the ability of markets to filter and value truly astonishes me.
The other important thing for me is trading. If I don’t trade and don’t have profits where will I get the capital to invest? The only ways I can invest are to sell my old assets, have trading profits or borrow. So trading is important to generate capital
. Trading also keeps you on tenterhooks – you are always alert and razor sharp. For trading, I look at technicals, which are essentially price movements. When price movements confirm my thought process, I buy aggressively.
The sheer feeling that the markets have bottomed out or that fundamentals and valuations are favourable is not enough. The final confirmation has to come from price only. Having said that, I won’t build an investment portfolio on price confirmation only.
However, if I have already bought the shares and the price gains, it gives me that much more confidence to hold or increase my stake. So I think to make a good investment, some kind of technical knowledge or a feel for the market is important.
Last but not the least, my experience as an investor has altered me as a human being. I, one of the most dogmatic men, have now learnt to say that ‘I can always be wrong’ at the end of every opinion that I express. I have also learnt that good investing calls for a careful examination of all points of view and alternative scenarios.
Just as in a modern world, the ability to adapt and change and mitigate prejudice is crucial to success, so it is in the investing world.
Discipline, just like in all walks of life, is very important in investing too. I have learnt that in investing decisions all factors are numerators but the denominator is only one which is price/value, for it is ultimately the price or value at which you buy/sell shares which determines not only your profit/gains but also the very important aspect of the risk that you take.
At a value, I am a buyer of everything, including the most hated companies. It is important “what you are buying, but it is more important at what value/price you are buying.”
Finally, we invest in an uncertain and dynamic world. It is imperative to constantly review your investments, especially because changing circumstances could necessitate a change in the assessment of the future.
A review is also important because we don’t always make our entire investment at one go; instead, we may do it in phases as things pan out. I have always followed this principle for many of my investments. Consistent review also allows us to judge when it is appropriate to exit an investment.
Similarly, exiting a stock is an independent decision, not driven by profit or loss. I sell if I judge that I have better competitive opportunities. Since price equals EPS X P/E, I would also sell when the EPS or expectations about the EPS of a company are coupled with unreasonable P/E ratios.
Since value and valuation are both transitory and have no definite benchmarks, I am not of the camp that says that you should sell just because the stock has historically expensive valuations. I evaluate the technical position in a stock when exiting as one can never predict the limits of extreme behaviour.
Technical analysis helps me to sell beyond the fair value in the case when equities overshoot. While I don’t try to sell at the top, I do aspire to capture the overshooting beyond fair value.
I thought ‘beauty’ was a difficult adjective in the English language, until I started to assess value in order to invest. In conclusion, both beauty and value are the most difficult adjectives in the English language. My quest of finding beauty and value is a process of education that is just never ending as – I learn something new and educative with every passing moment.
Akasa Air’s Future After Rakesh Jhunjhunwala: Know About India’s Newest Airline
Rakesh Jhunjhunwala-owned Akasa Air last week (on August 7) saw its first commercial flight depart from Mumbai to Ahmedabad. It on Friday also inaugurated its service in Bengaluru-Kochi-Bengaluru sector. Now, after the demise of Jhunjhunwala, India’s newest airline’s future is grabbing attention. The ace investor held a 40 per cent stake in the company, and aviation veterans Aditya Ghosh and Vinay Dube are the co-founders of the airline.
Akasa Air Founder, 48th Richest & India’s Warren Buffett: All About Ace Investor Rakesh Jhunjhunwala
Veteran stock market investor Rakesh Jhunjhunwala, often referred to as India’s Warren Buffett, died in Mumbai at 62. He was one of the co-founders of Akasa Air, a newly built airline company.
Jhunjhunwala died early this morning due to a cardiac arrest, a source in his newly set up airline said. Often referred to as ‘India’s Warren Buffett’ and the Big Bull of Indian markets, Jhunjhunwala’s net worth was about Rs 46,000 crore, according to Forbes.
It was in his growing years that Rakesh Jhunjhunwala first developed an interest in the stock market. His father, an Income Tax Officer, would discuss it with his friends. Little did he know that in the background of those keen conversations, his son would grow up to become a billionaire investor, one of India’s richest, and would one day come to be known as ‘India’s Warren Buffet
Rakesh Jhunjhunwala believed in India and the sheer potential of the country. This conviction led him to consistently make bold decisions throughout his life and career. He had tremendous regard for the Tata Group. Mr. Jhunjhunwala’s passing is an irreparable loss and we extend our deep condolences to his family and friends: N Chandrasekaran, Chairman, Tata Sons.
Veteran investor Rakesh Jhunjhunwala passed away on Sunday morning. The investor with had been dubbed “India’s Warren Buffet.” If sources are to be believed, the investor was brought to the Breach Candy Hospital at 6:45 AM and was declared dead.
He was suffering from multiple health issues including kidney ailments and had been discharged from the hospital a few weeks ago, they said. Both a trader and a chartered accountant, and one of the richest men in the country, he was last seen in public at Akasa Air’s launch.
Jhunjhunwala was also chairman of Hungama Media and Aptech, as well as a director of Viceroy Hotels, Concord Biotech, Provogue India, and Geojit Financial Services
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Rakesh sir Biograph Click here
