Veteran stock market investor Rakesh Jhunjhunwala passed away in Mumbai this morning. He was 62. Akasa Air – India’s newest budget carrier – was one of the business ventures of Rakesh Jhunjhunwala. The airline began commercial operations this month with a maiden flight from Mumbai to Ahmedabad.
Known as India’s Warren Buffett, Jhunjhunwala’s wealth was pegged at 5.8 billion dollars. Jhunjhunwala started his journey in stock markets while still in college with a capital of just 5,000 rupees.
Prime Minister Narendra Modi has expressed sadness on the passing away of business magnate, stock trader and investor Rakesh Jhunjhunwala. In a tweet, Mr Modi said, Rakesh Jhunjhunwala was indomitable.
The Prime Minister said, full of life, witty and insightful, Rakesh Jhunjhunwala leaves behind an indelible contribution to the financial world. Mr Modi said, he was also very passionate about India’s progress. The Prime Minister expressed condolences to his family and admirers.
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