Rakesh Jhunjhunwala: The ‘Massive Bull’, Akasa Air co-founder | 5 issues to know

Billionaire investor Rakesh Jhunjhunwala breathed his final immediately on the Breach Sweet Hospital in Mumbai. He was 62.

Prime Minister Narendra Modi led the tributes for the ace investor, typically touted as India’s personal Warren Buffet, calling him “indomitable and insightful”. Extending condolences to his household, Modi stated that Jhunjhunwala leaves behind an “indelible contribution to the monetary world.”

“Rakesh Jhunjhunwala was indomitable. Vigorous, witty and insightful, he leaves behind an indelible contribution to the monetary world. He was additionally very keen about India’s progress. His passing away is saddening. My condolences to his household and admirers. Om Shanti,” he tweeted.

5 issues to find out about Rakesh Jhunjhunwala:

• Born on July 5, 1960 in a Rajasthani household, Jhunjhunwala grew up in Mumbai the place his father labored as a commissioner of Revenue Tax. He graduated from Sydenham Faculty and bought enrolled on the Institute of Chartered Accountants of India.
• When he first entered the inventory market, the Sensex was at 150 factors. On the finish of this yr’s June quarter, Jhunjhunwala had a stake in 47 corporations, together with Star Well being, Titan, Rallis India, Escorts, Canara Financial institution, Indian Inns Comp, amongst others.

Also Read | 5 quotes by ‘India’s Warren Buffet’ Rakesh Jhunjhunwala to inspire investors

• He ran a privately-owned inventory buying and selling agency referred to as RARE Enterprises and lately based India’s latest airline Akasa Air which began its industrial operation earlier this month.
• Rakesh Jhunjhunwala forayed into the aviation business at a time it has suffered vital losses because of the ongoing coronavirus illness (Covid-19) pandemic. When requested about why he deliberate to start out an airline at such a time, Jhunjhunwala, who was at all times bullish about India’s inventory market, stated he was “ready for failure.”
• He was married to Rekha Jhunjunwala, who can also be a inventory market investor.

(With inputs from companies)