Veteran equity market investor and newly-launched Akasa Air founder Rakesh Jhunjhunwala passed away on Sunday in Mumbai. He was 62.
Popularly known as the “big bull”, Mr. Jhunjhunwala had multiple health issues.
The reason for his sudden demise is yet to be know from family. Mr. Jhunjhunwala had investments in several Indian companies and had made a fortune in the last two decades. He was known as the “Indian Warren Buffet” for his investment skills.
Prime Minister Narendra Modi took to Twitter to pay tributes to Mr. Jhunjhunwala and offered condolences to his family.
“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,” PM Modi wrote.
Union Commerce and Industry Minister Piyush Goyal also condoled the demise of the ace investor. Taking to the microblogging site, Mr. Goyal said Mr. Jhunjhunwala was an inspiration for wealth creation for crores.
“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,” he wrote.
More details are awaited.
