May 25, 2024
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Rakesh Jhunjhunwala Dies At 62, Week After 1st Flight Of His Akasa Air

Rakesh Jhunjhunwala, a renowned stock market investor, passed away this morning in a Mumbai hospital. Additionally, he was a founding partner of Akasa Air, the newest airline in India that just last week started taking passengers.

After experiencing a heart arrest, Rakesh Jhunjhunwala was taken urgently to the Breach Candy Hospital in Mumbai at around 6.45 am. The hospital staff proclaimed him dead when he arrived. He was 62. Jhunjhunwala received treatment for kidney-related problems at the same hospital before being released a few weeks ago. At Mumbai’s Banganga cremation this evening, he will be cremated.

According to Forbes, the veteran trader-cum-investor known as the Big Bull of Dalal Street had an estimated net worth of $5.8 billion. He ranked as India’s 36th-richest billionaire. He recently joined forces with former IndiGo CEO Aditya Ghosh and ex-Jet Airways CEO Vinay Dube to start Akasa Air, which took to the skies last week. At the Akasa Air launch, he was spotted using a wheelchair.

Rakesh Jhunjhunwala’s passing was mourned by Akasa Air, which noted that he was deeply concerned about the welfare of both its staff members and clients. “Akasa Air will strive to run a wonderful airline,” the statement read. “We will honour his legacy, ideals, and believe in us.”

Rakesh Jhunjhunwala, who was generally upbeat about the country’s stock market, was also known as “India’s Warren Buffett.”
Jhunjhuwala invested in more than thirty businesses in all. His main holdings included Tata Motors, Metro Brands, Titan, and Star Health. He served as the chairman of both Aptech and Hungama Media. The first two letters of his name and those of his wife Rekha, who is also an investor, were used to create the name of his privately held stock trading company, Rare Enterprises.

Picture Courtesy: Google/images are subject to copyright


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