Veteran investor Rakesh Jhunjhunwala, referred to as India’s own Warren Buffett, passed away on Sunday morning. He was 62.
According to reports, Mr Jhunjhunwala was rushed to the Candy Breach Hospital in Mumbai at 6:45 AM and was declared dead by the authorities. He was said to be suffering from multiple health issues, including kidney ailments. A few weeks ago, he was taken to the hospital for necessary treatment and was later discharged.
Besides being a trader, he was also a chartered accountant, and one of the richest men in India. His last public appearance was at Akasa Air’s launch.
The billionaire trader was reported to have a net worth of around $5.5 billion. He was also chairman of Hungama Media and Aptech, as well as a director of Viceroy Hotels, Concord Biotech, Provogue India, and Geojit Financial Services.
Prime Minister Narendra Modi condoled the death of the Big Bull of Dalal Street. “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,” Modi tweeted.