Veteran investor Rakesh Jhunjhunwala passed away on Sunday morning. The investor with had been dubbed “India’s Warren Buffet.” If sources are to be believed, the investor was brought to the Breach Candy Hospital at 6:45 AM and was declared dead. He was suffering from multiple health issues including kidney ailments and had been discharged from the hospital a few weeks ago, they said. Both a trader and a chartered accountant, and one of the richest men in the country, he was last seen in public at Akasa Air’s launch. Jhunjhunwala was also chairman of Hungama Media and Aptech, as well as a director of Viceroy Hotels, Concord Biotech, Provogue India, and Geojit Financial Services.
As the news of his death went viral, people on social media mourned the loss of Jhunjhunwala. “An inspiration to millions of stock market traders and investors, Sark Rakesh Jhunjhunwala has left us. He will be remembered and lived in our hearts forever. Rest in Peace sir,” wrote a Twitter user. Here are a few tweets:
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.— Ashwani (B.J.P) {N.D.A} (@Ashwanimathur4) August 14, 2022
Ace investor, dreamer, visionary, optimist, leader, firm believer of Indian growth story, Exemplar Rakesh Jhunjhunwala #RJ is no more, he breathed is last at Breach Candy Hospital in Mumbai at 6:45 amMay God give place to his soul in heavenly abode…
You will live forever #RJ
— Sachin Singh (@sachinsingh1010) August 14, 2022
Very Shocking – Ace Investor Rakesh Jhunjhunwala passed away….End of an ERA in Indian Stock Market.#RIPRakeshJhunjhunwala— Amit Sharma (@iamamitvasu) August 14, 2022
My HEART FELT CONDOLENCES TO THE FAMILY & THE TOTAL COMMUNITY OF INVESTORS IN INDIA.KNOWN AS “BIG BULL” IN THIS WORLD OF INVESTMENT GUIDE&MENTOR TO MANYBig Bull of Dalal Street, Legendary Investor Rakesh Jhunjhunwala Dies At 62, Had Multiple Ailments https://t.co/9vxdOtjd6d— DILIP BHATTACHARYA (@bhattachadilip) August 14, 2022
There was not a single week that we didn’t hear this mighty name Rakesh Jhunjhunwala in the markets. Rest in peace sir. #Rakeshjhunjhunwala #rip— The Lost Me (@thelovelylostme) August 14, 2022
Today morning got the sad news of my Guru our legend investor Big Bull Rakesh Jhunjhunwala has passed away ???? very sadRIP sirThank you for inspiring all of us— Viren Punjabi (@punjabi_viren) August 14, 2022
His dress in this photo is enough to express how simple his lifestyle was ! Om shanti Rakesh jhunjhunwala ji#Rakeshjhunjhunwala pic.twitter.com/Bv2Xyc4cC5— Dr Rohit Mishra⚕️ (@DRxRohitMishraa) August 14, 2022
Jhunjhunwala had successfully invested in Titan, CRISIL, Sesa Goa, Praj Industries, Aurobindo Pharma, and NCC over the years. His stock prices fell by 30% following the 2008 global recession, but recovered by 2012.
When Jhunjhunwala was in college, he began dabbling in the stock market. He enrolled at the Institute of Chartered Accountants of India, but after graduating, he decided to dive headfirst into Dalal Street. Jhunjhunwala invested Rs 5,000 in capital in 1985. That capital had grown to Rs 11,000 crore by September 2018.
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