'Indomitable, Full Of Life': PM Modi Mourns Death Of Stock Market Veteran Rakesh Jhunjhunwala

Mourning the death of Jhunjhunwala, PM Modi said 'he leaves behind an indelible contribution to the financial world. He was also very passionate about India’s progress.'

Prime Minister Narendra Modi, Union minister Piyush Goyal, and Former Indian cricketer Virender Sehwag were among personalities who paid tributes to Rakesh Jhunjhunwala.

Source : Twitter/@NarendraModi

New Delhi: Prime Minister Narendra Modi on Sunday led the tributes condoling the death of stock market investor and Akasa Air founder Rakesh Jhunjhunwala. In his tweet Modi said, “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.”

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. pic.twitter.com/DR2uIiiUb7

— Narendra Modi (@narendramodi) August 14, 2022

Home minister Amit Shah also expressed anguished over his death. In his tweet, Shah said, "His vast experience and understanding of the stock market have inspired countless investors. He will always be remembered for his bullish outlook. My deepest condolences to his family. Om Shanti Shanti.

Expressing grief, Union minister Piyush Goyal tweeted, "Deeply anguished at the demise of veteran investor Rakesh Jhunjhunwala. He was an inspiration for wealth creation for crores. My heartfelt condolences to his family, friends and admirers. Om Shanti."

Deeply anguished at the demise of veteran investor Rakesh Jhunjhunwala. He was an inspiration for wealth creation for crores.

My heartfelt condolences to his family, friends and admirers. Om Shanti.

— Piyush Goyal (@PiyushGoyal) August 14, 2022

Former Indian cricketer Virender Sehwag also mourned the death of the 62-year-old veteran investor. “End of an Era as the Big Bull of the Dalal Street, RakeshJhunjhunwala passes away.  Condolences to his family and loved ones. Om Shanti,” tweeted .

End of an Era as the Big Bull of the Dalal Street , #RakeshJhunjhunwala passes away.
Condolences to his family and loved ones. Om Shanti 🙏 pic.twitter.com/3OrVSzU2Ty

— Virender Sehwag (@virendersehwag) August 14, 2022

BJP leader Baijayant Jay Panda in a tweet said: “Deeply pained to learn about the sad demise of the Big Bull of the Dalal Street Shri Rakesh Jhunjhunwala Ji. He was often called the Indian Warren Buffett as he had mastered the art of investing. Recently he launched the Akasa air. Heartfelt condolences to his family."

Business leader Gautam Adani also tweeted, saying, "Extremely saddened by the untimely passing away of the most legendary investor that India has had. Shri Jhunjhunwala inspired an entire generation to believe in our equity markets with his brilliant views. We will miss him. India will miss him but we will never forget him." 

Extremely saddened by the untimely passing away of the most legendary investor that India has had. Shri Jhunjhunwala inspired an entire generation to believe in our equity markets with his brilliant views. We will miss him. India will miss him but we will never forget him. RIP🙏 pic.twitter.com/XrOBM3t0nG

— Gautam Adani (@gautam_adani) August 14, 2022

Deeply pained to learn about the sad demise of the Big Bull of the Dalal Street Shri Rakesh Jhunjhunwala Ji. He was often called the Indian Warren Buffett as he had mastered the art of investing. Recently he launched the Akasa air. Heartfelt condolences to his family. Om Shanti🙏 pic.twitter.com/H4YuZFj3jk

— Baijayant Jay Panda (@PandaJay) August 14, 2022

Sharing condolences to his family, Deepak Shenoy, founder and chief executive officer (CEO) of Capitalmind, tweeted, “A trader, investor and legend that inspired many. He played the short and long side, and made his peace with the market. He will be remembered fondly. Condolences to his family."

 

RIP Rakesh Jhunjhunwala. A trader, investor and legend that inspired many. He played the short and long side, and made his peace with the market. He will be remembered fondly. Condolences to his family.

— Deepak Shenoy (@deepakshenoy) August 14, 2022

Jhunjhunwala was not keeping well for the past few days and breathed his last today in Breach Candy Hospital in Mumbai.  Known as investor with a midas touch, he is often referred to as India's Warren Buffett. Jhunjhunwala is valued at $5.8 billion according to Forbes. A commerce graduate from Mumbai University and a qualified CA, Jhunjhunwala was a self-made man with investments as his prime source of income.

Born to an income tax officer, Jhunjhunwala started dabbling in stocks while still in college.

His privately owned stock trading firm Rare Enterprises, derives its name from the first two initials of his name and his wife Rekha's name. His most valuable listed holding is watch and jewellery maker Titan, part of the Tata conglomerate.

The ace investor is survived by his wife and three children.