Veteran stock market investor Rakesh Jhunjhunwala has passed away at the age of 62 in Mumbai due to kidney ailments at the age of 62 years. He has been survived by his wife Rekha Jhunjunwala, two sons and a daughter.
Junjhunwala was brought dead at Breach Candy hospital in Mumbai at 6:45 am on Sunday. Jhunjhunwala was India’s 36th richest person in 2021 and 438th richest man in the world, so far in 2022, according to Forbes. Over the years, invested in many well-known and established companies, and also in upcoming startups.
Jhunjhunwala is referred as India’s Warren Buffett, and the Big Bull of Indian markets, Jhunjhunwala’s net worth was $5.8 billion, as of August 2022. He invested via his firm Rare Enterprises. Recently, Low-cost carrier Akasa Air, which is backed by Rakesh Jhunjhunwala, was inaugurated on August 7.
He has portfolio of investments in various companies including Star Health, Titan, Rallis India, Escorts, Canara Bank, Indian Hotels Company, Agro Tech Foods, Nazara Technologies, Tata Motors. Overall, he had stake in 47 companies at the end of June quarter.
Jhunjhunwala was also the promoter of Star Health & Allied Insurance and He was also holding in around 19 companies, including Tata Communications, Titan Company, Bilcare, Va Tech Wabagh, Federal Bank, Aptech. Rakesh Jhunjhunwala entered the stock market with just Rs 5,000 in 1985. At that time, Sensex was at 150 points.
His passing away is saddening to Indian Financial market. Our condolences to his family and admirers. Om Shanti.
