Pardafas Reporter
Rakesh Jhunjhunwala
Billionaire business magnate, stock trader, and investor Rakesh Jhunjhunwala passed away at the age of 62 in Mumbai on Sunday morning.
He was the 36th richest billionaire in India.
Jhunjhunwala, who was popularly known as India’s Warren Buffett, had an estimated net worth of about $4.6 billion, according to Forbes. He was also included on the Forbes 2022 list.
Jhunjhunwala began investing with ₹ 5,000 in 1985 when the Bombay Stock Exchange's benchmark index Sensex was at 150; it now trades at over 59,000.
Rakesh Jhunjhunwala recently ventured into the aviation industry with Akasa Air which took flight on August 7. Jhunjhunwala, apart from being an investor, was the chairman of Aptech Limited and Hungama Digital Media Entertainment Pvt. Ltd. He was also among the directors of several Indian firms. He was also an advisor to India's International Movement to the United Nations.
Overall, Jhunjhuwala had investments in more than three dozen companies. Titan, Star Health, Tata Motors, and Metro Brands were some of his largest holdings.
Jhunjhunwala was suffering from multiple health issues and was discharged from the hospital a few weeks ago after being treated for kidney-related issues.
Rakesh Jhunjhunwala was born on July 5, 1960. His father worked as an Income Tax officer in Mumbai. He graduated from Sydenham College and thereafter enrolled at the Institute of Chartered Accountants of India.
