India business tycoon Rakesh Jhunjhunwala passes away at 62; PM Modi sends his condolence saying, “His passing away is saddening”

Veteran investor and trader, popularly referred to as the ‘Big Bull of Dalal Street’, Rakesh Jhunjhunwala passed away earlier today morning. The ace stock market investor, Jhunjhunwala was rushed to Breach Candy Hospital in Mumbai at around 6.45 am after he suffered a cardiac arrest. Unfortunately, he was declared dead on arrival by the hospital authorities.

As per reports, Jhunjhunwala who recently launched his own airlines, Akasa Air was apparently suffering from multiple health issues and was discharged from the same hospital a few weeks ago after being treated for kidney-related issues. With an estimated net worth of around USD 5.8 billion, Jhunjhunwala was the 36th richest billionaire in India.

Termed as an investor with a Midas touch, Rakesh Jhunjhunwala was also dubbed as ‘India's Warren Buffett’. Overall, Jhunjhuwala had investments in more than three dozen companies including the likes of Titan, Star Health, Tata Motors and Metro Brands which were also some of his largest holdings. He was also the Chairman of Hungama Media and Aptech.

Sharing his condolence over Jhunjhunwala’s sudden demise Prime Minister Narendra Modi took to Twitter saying, “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

Joining the PM was veteran politician and Union Home Minister Amit Shah who also Tweeted, “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.”

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.

— Amit Shah (@AmitShah) August 14, 2022

Commerce Minister Piyush Goyal sent out his condolence as well saying, “Deeply anguished at the demise of veteran investor Rakesh Jhunjhunwala. He was an inspiration for wealth creation for crores.”
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Deeply anguished at the demise of veteran investor Rakesh Jhunjhunwala. He was an inspiration for wealth creation for crores.

My heartfelt condolences to his family, friends and admirers. Om Shanti.

— Piyush Goyal (@PiyushGoyal) August 14, 2022

Bollywood Hungama too sends out its heart felt condolence in these trying times to Rakesh Jhunjhunwala’s family and friends.

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