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RIP Rakesh Jhunjhunwala: Twitter Mourns The Loss of 'India’s Warren Buffet'

By: Buzz Staff

News18.com

Last Updated: August 14, 2022, 10:02 IST

New Delhi, India

Rakesh Jhunjhunwala. (Image: ANI)

Rakesh Jhunjhunwala. (Image: ANI)

Rakesh Jhunjhunwala was suffering from multiple health issues including kidney ailments and had been discharged from the hospital a few weeks ago.

Veteran investor Rakesh Jhunjhunwala passed away on Sunday morning. The investor with had been dubbed “India’s Warren Buffet.” If sources are to be believed, the investor was brought to the Breach Candy Hospital at 6:45 AM and was declared dead. He was suffering from multiple health issues including kidney ailments and had been discharged from the hospital a few weeks ago, they said. Both a trader and a chartered accountant, and one of the richest men in the country, he was last seen in public at Akasa Air’s launch. Jhunjhunwala was also chairman of Hungama Media and Aptech, as well as a director of Viceroy Hotels, Concord Biotech, Provogue India, and Geojit Financial Services.

As the news of his death went viral, people on social media mourned the loss of Jhunjhunwala. “An inspiration to millions of stock market traders and investors, Sark Rakesh Jhunjhunwala has left us. He will be remembered and lived in our hearts forever. Rest in Peace sir,” wrote a Twitter user. Here are a few tweets:

Jhunjhunwala had successfully invested in Titan, CRISIL, Sesa Goa, Praj Industries, Aurobindo Pharma, and NCC over the years. His stock prices fell by 30% following the 2008 global recession, but recovered by 2012.

When Jhunjhunwala was in college, he began dabbling in the stock market. He enrolled at the Institute of Chartered Accountants of India, but after graduating, he decided to dive headfirst into Dalal Street. Jhunjhunwala invested Rs 5,000 in capital in 1985. That capital had grown to Rs 11,000 crore by September 2018.

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first published:August 14, 2022, 10:02 IST
last updated:August 14, 2022, 10:02 IST