Rakesh Jhunjhunwala, Indian Warren Buffett, dead – IPA Newspack


Ace investor Rakesh Jhunjhunwala died this morning at a Mumbai hospital. He was 62.

Rakesh Jhunjhunwala was rushed to the Breach Candy Hospital at around 6.45 am after he suffered a cardiac arrest. He was declared dead on arrival by the hospital authorities. He was discharged from the same hospital a few weeks ago after being treated for kidney-related issues.

The veteran trader-cum-investor, also known as the Big Bull of Dalal Street, was reported to have a net worth of around $5.5 billion, according to Forbes.

He was a promoter of India’s newest airline Akasa Air which took to the skies last week.

Jhunjhunwala was suffering from multiple health issues and was seen on a wheelchair at the launch of Akasa Air.  He was dubbed as “India’s Warren Buffett” who was mostly bullish about the country’s stock market.

Rakesh Jhunjhunwala was born on July 5, 1960. He was married to Rekha Jhunjunwala, who is also an investor.

Prime Minister Narendra Modi condoled his death and said the legendary investor “leaves behind an indelible contribution to the financial world.”

“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,” he tweeted.

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