Ace investor Rakesh Jhunjhunwala passes away at 62
New Delhi, Aug 14: Ace stock market investor Rakesh Jhunjhunwala, often referred to as India's Warren Buffett, died in Mumbai on Sunday morning. He was 62.
Jhunjhunwala was suffering from multiple health issues including kidney ailments and had been discharged from the hospital a few weeks ago.
Popularly referred to as the "Big Bull of India" and the "King of Bull Market", Jhunjhunwala is widely known for his stock market predictions and bullish outlooks.
Jhunjhunwala's interest in stock markets arose when he observed his father discussing the markets with his friends. While his father guided him on the markets, he never gave him money to invest and forbade him from asking friends for money. With his savings at hand Rakesh started investing early when in college. Beginning with Rs 5,000 capital in 1985, today his investment has grown to Rs 11,000 crores.
Besides being an active investor Jhunjhunwala is the chairman of Aptech Limited and Hungama Digital Media Entertainment Pvt. Ltd. and sits on the board of directors of Prime Focus Limited, Geojit Financial Services, Bilcare Limited, Praj Industries Limited, Provogue India Limited, Concord Biotech Limited, Innovasynth Technologies (I) Limited, Mid Day Multimedia Limited, Nagarjuna Construction Company Limited, Viceroy Hotels Limited, and Tops Security Limited.
The first big profit of Rakesh Jhunjhunwala was Rs 5 lakh in 1986. Between 1986 and 1989, he earned almost Rs 20-25 lakh profit.
As of 2021, his biggest investment is in Titan Company which is worth Rs 7,294.8 crore.
Currently, he is a member of the Board of Advisors of India's International Movement to Unite Nations (I.I.M.U.N.).
Akasa Air is an Indian airline co-founded by Rakesh Jhunjhunwala and former Jet Airways CEO Vinay Dubey. The airline currently has 2 aircraft with additional order for 70 more aircraft and flies to 3 cities as of 9th Aug 2022.