Biznextindia : Veteran stock market investor and billionaire Rakesh Jhunjhunwala, 62, has passed away on Sunday. He was brought to Mumbai’s Breach Candy Hospital at 6:45 AM in the morning and was declared dead. He was known to have multiple ailments. Jhunjhunwala’s last public appearance was at the launch of the low-cost airline Akasa Air on August 7, in which he was a promoter.
Regarded among some of the most successful Indian investors, Jhunjhunwala is referred to as the Warren Buffett of India. He was also called as ‘Big Bull of Dalal Street’ for his unique and successful investing style.
Mr. Jhunjhunwala deserves credit for creating interest among people to invest in the equity markets. Every investor — new and existing — aspires to convert their investments into crores, However, Jhunjhunwala secret sauce has been a long-term bull in India — through thick and thin. He started his investment journey in 1985, when the Sensex was at 500, with just Rs 5,000.
Several dignitaries including Prime minister Narendra Modi, Finance Minister Nirmala Sitharaman, Industrialist Naveen Jindal have expressed condolences over the demise of Mr. Jhunjhunwala.
Rakesh Jhunjhunwala 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. pic.twitter.com/DR2uIiiUb7
— Narendra Modi (@narendramodi) August 14, 2022
“Rakesh Jhunjhunwala 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” twitted Modi.