On Sunday morning, longtime investor Rakesh Jhunjhunwala passed suddenly. The investor known as “India’s Warren Buffet” was described as having “the Midas touch.”
The investor was rushed to the Candy Breach Hospital around 6:45 AM and was later pronounced dead, according to sources. They said that he had recently been released from the hospital and was dealing with a number of health problems, including kidney problems.
He was one of the richest men in the nation, a businessman and chartered accountant, and his last public appearance was at the opening of Akasa Air.
Jhunjhunwala served as a director of Viceroy Hotels, Concord Biotech, Provogue India, and Geojit Financial Services in addition to serving as chairman of Hungama Media and Aptech.
Jhunjhunwala started experimenting with the stock market while still in college. After graduating from the Institute of Chartered Accountants of India, he chose to plunge straight into Dalal Street, despite having registered there. In 1985, Jhunjhunwala made a capital investment of Rs 5,000. By September 2018, that capital had increased to Rs 11,000 crore.
Jhunjhunwala developed an interest in the stock market after hearing his father and his friends talk about it. Jhunjhunwala cited his father as telling him to regularly read the newspaper because it was the news that affected the stock market. According to sources, even though his father allowed him to engage in the stock market, he prevented him from asking friends for money and didn’t offer any financial support.
Narendra Modi Condoles Rakesh Jhunjhunwala
Narendra Modi Tweeted
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.
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
Rajnath Singh expresses Condoles
Rajnath Singh Defence Minister of India express Condoles to Rakesh Jhunjhunwala’s Death
Shocked by the sudden demise of seasoned Investor, Shri Rakesh Jhunjhunwala. He will be remembered for his contributions in business and industry. He was at the forefront of creating a culture of investing in Indian stock markets. Condolences to his family and many admirers.
— Rajnath Singh (@rajnathsingh) August 14, 2022
Virender Sehwag Condoles Rakesh Jhunjhunwala’s Death:
End of an Era as the Big Bull of the Dalal Street , #RakeshJhunjhunwala passes away.
— Virender Sehwag (@virendersehwag) August 14, 2022
Condolences to his family and loved ones. Om Shanti 🙏 pic.twitter.com/3OrVSzU2Ty
