Rakesh Jhunjhunwala, Investor and Big Bull of Dalal Street, Passes Away at 62 From Kidney Problems

Credent TV | 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 only last week started taking passengers.

After experiencing a heart attack, Rakesh Jhunjhunwala was taken urgently to the Breach Candy Hospital in Mumbai at approximately 6.45 am. The medical 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.

The Big Bull of Dalal Street, a seasoned trader-cum-investor, was said to have a net worth of almost $5.8 billion. In India, he ranked 36th among billionaires, according to a Forbes list from 2021.

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 seen using a wheelchair.

The man known as “India’s Warren Buffett,” Rakesh Jhunjhunwala, was always optimistic about the country’s stock market.

Jhunjhuwala invested in more than thirty businesses in all. His main interests were 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.

On July 5, 1960, Rakesh Jhunjhunwala was born. In Mumbai, his father was an income tax official. Jhunjhunwala, a chartered accountant by profession, started investing with 5,000 in 1985 when the benchmark index Sensex of the Bombay Stock Exchange was at 150; it currently trades at over 59,000.