Rakesh Jhunjhunwala: Big stock market investor dies at the age of 62
Weeks after his Akasa Air’s inaugural flight, Rakesh Jhunjhunwala, 62, passes away.
R. J. Jhunjhunwala Dies: According to headlines, the seasoned trader-cum-investor known as the Big Bull of Dalal Street had a net worth of approximately $5.8 billion.
Rakesh Jhunjhunwala, a renowned stock market investor, passed away this morning in a Mumbai hospital. Additionally, he was a founding partner of Akasa Air, the newest airline in India that just last week started taking passengers.
After experiencing a heart arrest, Rakesh Jhunjhunwala was take urgently to the Breach Candy Hospital in Mumbai at around 6.45 am. Unfortunately, the hospital staff proclaimed him dead when he arrived. He was 62.
Jhunjhunwala, who has several medical problems, was recently release from the same hospital after receiving treatment for kidney-related problems.
According to Forbes, the seasoned trader-cum-investor known as the Big Bull of Dalal Street had an estimated $5.8 billion.
He ranked as India’s 36th-richest billionaire.
He recently joined forces with former IndiGo CEO Aditya Ghosh and ex-Jet Airways CEO Vinay Dube to start Akasa Air, which took to the skies last week. At the Akasa Air launch, he was spot using a wheelchair.
Rakesh Jhunjhunwala, who was generally upbeat about the country’s stock market, was also known as “India’s Warren Buffett.” He enter the aircraft business when the Covid-19 outbreak cause it to suffer greatly. When prompted, he responded, “Many people have asked me why I founded an airline. Instead of not trying, it is better to have tried and failed.”
Jhunjhuwala invested in more than thirty businesses in all. His central holdings included Tata Motors, Metro Brands, Titan, and Star Health. In addition, he served as the chairman of Aptech and Hungama Media.
The first two letters of his name and those of his wife Rekha, an investor, were use to create the name of his privately held stock trading company, Rare Enterprises. After completing his studies at Sydenham College, he applied to the Institute of Chartered Accountants of India.
