Middle East

Investor Rakesh Jhunjhunwala dies at 62

The veteran trader and investor known as The Big Bull of Dalal Street is reported to have a net worth of around $5.8 billion, according to Forbes.

Rakesh Jhunjhunwala was rushed to Mumbai’s Breach Candy Hospital at around 6:45am after suffering a cardiac arrest. He was declared dead on arrival by hospital authorities.

Junjunwala suffers from multiple health issues and was discharged from the same hospital a few weeks ago after being treated for kidney-related issues.

The veteran trader and investor known as The Big Bull of Dalal Street is reported to have a net worth of around $5.8 billion, according to Forbes. He was the 36th richest billionaire in India.

He recently teamed up with former Jet Airways CEO Vinay Dube and former IndiGo head Aditya Ghosh to launch new Indian airline Akasa Air, which took off last week. He was seen in a wheelchair at the Akasa Airlines launch.

Midas Touch investor Rakesh Jhunjhunwala has been dubbed “India’s Warren Buffett” for being almost bullish on the stock market.

Overall, Jhunjhuwala has invested in over 30 companies. Titan, Star Health, Tata Motors and Metro Brands were some of his largest holdings. He also served as Chairman of Hungama Media and He Aptech.

His privately owned stock trading company, Rare Enterprises, is named after the first two letters of his name and the first two letters of his wife Rekha, who is also an investor.

Rakesh Jhunjhunwala was born on July 5, 1960. His father worked as an Income Tax Officer in Mumbai. After graduating from Sydenham College, he entered the Institute of Chartered Accountants of India.

He started investing with Rs 5,000 in 1985 when the Bombay Stock Exchange benchmark index Sensex was 150. Currently trading at over 59,000.
Prime Minister Narendra Modi mourned his death and said the legendary investor “left an indelible contribution to the financial world.” He said he would be remembered for giving the airline Aqasa Airlines.

– Source – NDTV

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https://timeskuwait.com/news/investor-rakesh-jhunjhunwala-dies-at-62/ Investor Rakesh Jhunjhunwala dies at 62

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