Rakesh Jhunjhunwala Passes Away: Know About Ace Stock Market Investor Called 'India's Warren Buffett'

Rakesh Jhunjhunwala Death: Son of an income tax officer, Jhunjhunwala began investing with $100 in 1985 when the Bombay Stock Exchange Index was at 150 which now trades around 60,000.

New Delhi: Veteran stock market investor, Rakesh Jhunjhunwala passed away this morning at the age of 62 in Mumbai. His latest venture was the Akasa Air, a new buget carrier, which commenced operation operations this month with a maiden flight from the financial capital of Mumbai to the city of Ahmedabad. Jhunjhunwala had teamed up with ex-Jet Airways CEO Dube and former IndiGo head Aditya Ghosh to set up Akasa.

Known as "India's Warren Buffet", Jhunjhunwala is valued at $5.8 billion according to Forbes.

Besides being an active investor Jhunjhunwala was the chairman of Aptech Limited and Hungama Digital Media Entertainment Private Limited and was in 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.

He was popularly referred to as the "Big Bull of India" and the "King of Bull Market", and was widely known for his stock market predictions and bullish outlooks.

His most valuable listed holding is watch and jewellery maker Titan, part of the Tata conglomerate. Jhunjhunwala's early bets on Star Health and Allied Insurance and Metro Brands paid off when both companies listed in 2021.

Jhunjhunwala, a commerce graduate from Mumbai University and a qualified CA is a self made man with investments as his prime source of income who started dabbling in stocks while still in college.

Son of an income tax officer, Jhunjhunwala began investing with $100 in 1985 when the Bombay Stock Exchange Index was at 150 which now trades around 60,000.

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

Jhunjhunwala grew up in a Rajasthani family in Mumbai with his ancestral roots belonging to Jhunjhunu in Rajasthan, as his surname indiactes. The veteran stock trader and investor is survided by his wife and three children.