Rakesh Jhunjhunwala, a veteran stock market investor, died in Mumbai at the age of 62. Jhunjhunwala has invested in many well-known and established companies, as well as upcoming startups, over the years.

Jhunjhunwala's net worth was $5.8 billion as of August 2022, making him India's Warren Buffett and the Big Bull of Indian markets. He made the investment through his company, Rare Enterprises.

Rakesh Jhunjhunwala's Akasa Air, a low-cost carrier, was launched on August 7.

According to Forbes, Jhunjhunwala was India's 36th richest person in 2021 and the 438th richest man in the world so far in 2022.

Star Health, Titan, Rallis India, Escorts, Canara Bank, Indian Hotels Company, Agro Tech Foods, Nazara Technologies, and Tata Motors are among the companies in his portfolio. In general, he Rakesh Jhunjhunwala, a veteran stock market investor, died in Mumbai at the age of 62. Jhunjhunwala has invested in many well-known and established companies, as well as upcoming startups, over the years. At the end of the June quarter, it owned 47 companies.

 Who is Rakesh Jhunjhunwala?

He owns shares in approximately 19 companies, including Tata Communications, Titan Company, Bilcare, Va Tech Wabagh, Federal Bank, and Aptech.

Rakesh Jhunjhunwala was born on July 5, 1960, into a Rajasthani family in Bombay, where his father worked as an Income Tax Commissioner. He attended Sydenham College before enrolling in the Institute of Chartered Accountants of India.

Jhunjhunwala became interested in stock markets after observing his father discussing them with his friends. While his father advised him on the markets, he never gave him money to invest and prohibited him from borrowing money from friends. Rakesh began investing while still in college with his savings. His investment has grown from 5,000 rupees in 1985 to 11,000 crores today.

Rakesh Jhunjhunwala entered the stock market in 1985 with only Rs 5,000. The Sensex was at 150 points at the time.

Prime Minister Narendra Modi expressed his condolences on Jhunjhunwala's death. "Rakesh Jhunjhunwala was invincible," he tweeted. He leaves an indelible mark on the financial world, full of life, wit, and insight.

He was also very enthusiastic about India's advancement.

His death is heartbreaking. My condolences go out to his family and friends. "Shanti Om."

Narendra Modi Tweet: 

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.