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Rakesh Jhunjhunwala Demise: 'Sudden' Cardiac Arrest Led to Ace Investor's Death, Say Doctors;

According to sources, he was undergoing dialysis on a regular basis as both his kidneys had failed. He was brought to the Candy Breach Hospital at 6:45 AM and was declared dead

By: News Desk

News18.com

Last Updated: August 14, 2022, 09:56 IST

Delhi, India

Veteran stock market investor Rakesh Jhunjhunwala died on Sunday morning here. He was 62 and was suffering from kidney ailments. According to sources, he was undergoing dialysis on a regular basis as both his kidneys had failed. He was brought to the Candy Breach Hospital at 6:45 AM and was declared dead.

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 Read More

Aug 14, 2022 19:41 IST

'Breaks My Heart': Anil Agarwal Pays Tribute to Jhunjhunwala

Mining baron Anil Agarwal said Jhunjhunwala will forever be known as the man who popularised public understanding of stock markets. “Breaks my heart to know that a friend of mine, and more widely known as the big bull of our stock market, is no more…Rakesh Jhunjhunwala will forever be known as the man who popularised public understanding of stock markets. My prayers go out to his family & friends. Om Shanti,” he tweeted.

Aug 14, 2022 18:37 IST

WATCH: Rakesh Jhunjhunwala's Positivity Reflected In This Viral Dance Clip

Veteran investor Rakesh Jhunjhunwala passed away on Sunday morning. The investor had been dubbed “India’s Warren Buffet.” Not just for stocks and investing, the founder of India’s newest airline Akasa Air was known for his spirit. A recent video of him, which is now going viral, is proof of the same. Uploaded on Twitter by user Keshav Arora, the video shows his undefeated enthusiasm as he can be seen dancing away to glory. READ MORE

Aug 14, 2022 17:48 IST

Rakesh Jhunjhunwala's Mortal Remains to be Taken to Crematorium at 10:30 pm

Ace investor Rakesh Jhunjhunwala’s mortal remains will be taken to a crematorium in Mumbai at 10:30 pm. His last rites will be performed in the night after his brother arrives from Dubai.

Aug 14, 2022 17:22 IST

Rakesh Jhunjhunwala to be Cremated at Banganga Crematorium Shortly

Veteran stock market investor Rakesh Jhunjhunwala’s mortal remains will be taken shortly to the Banganga crematorium in Malabar Hill, sources said.

Aug 14, 2022 17:05 IST

What Jhunjhunwala Said in His Last Public Appearance at Akasa Air's Inaugural Flight

Rakesh Jhunjhunwala, who held 40 per cent stake in Akasa Air, appeared publicly for the last time at the airline’s inaugural flight between Mumbai and Ahmedabad on August 7. “Normally, a child is born in nine months. We (Akasa Air) took 12 months. It would not have been possible without the cooperation of the Ministry of Civil Aviation,” Jhunjhunwala had said in his short speech at the Mumbai airport. “Nowhere in the world has an airline been conceived and born in 12 months,” he had said.

Aug 14, 2022 16:55 IST

'India Has Lost a Gem': Maharashtra CM, Political Leaders Offer Condolences on Passing Away of Rakesh Jhunjhunwala

Maharashtra Chief Minister Eknath Shinde and other leaders from the state expressed condolences on the demise of veteran stock market investor Rakesh Jhunjhunwala. “India has lost a gem, who made a mark not just on the stock market but on the minds of almost every investor in India,” Shinde tweeted. Maharashtra Deputy Chief Minister Devendra Fadnavis said Jhunjhunwala’s contribution to the Indian industry will always be remembered. “Saddened to know about the demise of Shri Rakesh Jhunjhunwala ji. His contribution in Indian industry & economic development will be remembered forever. Our deepest condolences to his family and admirers. My humble tributes, Fadnavis said in a tweet. Shiv Sena leader and former Maharashtra minister Aaditya Thackeray also condoled Jhunjhunwala’s passing away.

Aug 14, 2022 16:36 IST

Ratan Tata Pays Tribute to Rakesh Jhunjhunwala

Ratan Tata paid tribute to Rakesh Jhunjhunwala after the latter’s demise due to cardiac arrest in Mumbai early morning.

Ratan Tata Pays Tribute to Rakesh Jhunjhunwala

Aug 14, 2022 15:38 IST

Rakesh Jhunjhunwala's Last Rites to be Performed After His Brother's Arrival from Dubai

An ambulance has arrived at Rakesh Jhunjhunwala’s residence, sources said. The ace stock market investor passed away early this morning due to a cardiac arrest. Jhunjhunwala was brought dead at the Breach Candy hospital early on Sunday morning. Suffering from kidney disease and ischemic heart disease, the hospital certified that cardiac arrest was the cause of his death. His last rites will be performed in the evening after his brother arrives from Dubai.

Aug 14, 2022 14:58 IST

'Sudden' Cardiac Arrest Led to His Death, Say Doctors

According to sources, doctors have said a ‘sudden cardiac arrest’ caused Rakesh Jhunjhunwala’s death. The investor had undergone angioplasty a month back. Jhunjhunwala was on dialysis and had kidney issues but a cardiac arrest is being seen as the cause of his death, his doctor, Dr Ruchi Samdani said.

Aug 14, 2022 14:45 IST

Akasa Air Founder, 48th Richest & India's Warren Buffett: All About Ace Investor Rakesh Jhunjhunwala

Veteran stock market investor Rakesh Jhunjhunwala, often referred to as India’s Warren Buffett, died in Mumbai at 62. He was one of the co-founders of Akasa Air, a newly built airline company.

Jhunjhunwala died early this morning due to a cardiac arrest, a source in his newly set up airline said. Often referred to as ‘India’s Warren Buffett’ and the Big Bull of Indian markets, Jhunjhunwala’s net worth was about Rs 46,000 crore, according to Forbes. READ MORE

Aug 14, 2022 13:50 IST

Rakesh Jhunjhunwala Demise: Tributes Pour In From PM Modi, Sitharaman, Adani, Others

Following the sad demise of Rakesh Jhunjhunwala, tributes have started coming in for the ace investor from Prime Minister Narendra Modi to Finance Minister Nirmala Sitharaman to billionaire Gautam Adani, among others. The legendary investor, who had the Midas touch in the stock market, passed away on Sunday. He was 62 and was suffering from kidney ailments. READ MORE

Aug 14, 2022 13:17 IST

Akasa Air's Future After Rakesh Jhunjhunwala: Know About India's Newest Airline

Rakesh Jhunjhunwala-owned Akasa Air last week (on August 7) saw its first commercial flight depart from Mumbai to Ahmedabad. It on Friday also inaugurated its service in Bengaluru-Kochi-Bengaluru sector. Now, after the demise of Jhunjhunwala, India’s newest airline’s future is grabbing attention. The ace investor held a 40 per cent stake in the company, and aviation veterans Aditya Ghosh and Vinay Dube are the co-founders of the airline. READ MORE

Aug 14, 2022 13:00 IST

Akasa Air Founder, 48th Richest & India's Warren Buffett: All About Ace Investor Rakesh Jhunjhunwala

Veteran stock market investor Rakesh Jhunjhunwala, often referred to as India’s Warren Buffett, died in Mumbai at 62. He was one of the co-founders of Akasa Air, a newly built airline company.

Jhunjhunwala died early this morning due to a cardiac arrest, a source in his newly set up airline said. Often referred to as ‘India’s Warren Buffett’ and the Big Bull of Indian markets, Jhunjhunwala’s net worth was about Rs 46,000 crore, according to Forbes. READ MORE

Aug 14, 2022 12:52 IST

Amit Shah Condoles Rakesh Jhunjhunwala's Death

Aug 14, 2022 12:39 IST

Teenage Rakesh Jhunjhunwala's Market Fever Began With His Father's Talks on Stocks. The Rest Is History | News18 Explains

It was in his growing years that Rakesh Jhunjhunwala first developed an interest in the stock market. His father, an Income Tax Officer, would discuss it with his friends. Little did he know that in the background of those keen conversations, his son would grow up to become a billionaire investor, one of India’s richest, and would one day come to be known as ‘India’s Warren Buffet’. READ MORE

Aug 14, 2022 12:32 IST

Rakesh Jhunjhunwala's Stock Market Investments: A Look at His Company-Wise, Sector-Wise Holdings

Ace investor Rakesh Jhunjhunwala, who had the Midas touch in the stock market, has had a very successful career in share trading. His portfolio holding has always grabbed investors’ attention and any change in it could have created movement in that particular share. Here’s his current stock market holdings in details: READ MORE

Aug 14, 2022 12:12 IST

Rakesh Jhunjhunwala's Last Venture Akasa Air Promises to Honour His Spirit

“We are deeply saddened by the untimely demise of Mr. Rakesh Jhunjhunwala this morning. Our thoughts and prayers are with Mr. Jhunjhunwala’s family and friends. May his soul rest in peace. We at Akasa cannot thank Mr. Jhunjhunwala enough for being an early believer in us and putting his trust and faith in us to build a world-class airline. Mr. Jhunjhunwala had an invincible spirit, was deeply passionate about everything Indian and cared greatly for the well-being of our employees and customers. Akasa Air will honour Mr. Jhunjhunwala’s legacy, values and belief in us by striving to run a great airline,” said Vinay Dube, Founder and CEO at Akasa Air.

Aug 14, 2022 11:58 IST

Rakesh Jhunjhunwala's Final Journey to Begin at 5:30 PM in Malabar Hill

Rakesh Jhunjhunwala's Final Journey to Begin at 5:30 PM in Malabar Hill

Aug 14, 2022 11:24 IST

His Passing Is an Irreparable Loss: Tata Sons Chairman

Rakesh Jhunjhunwala believed in India and the sheer potential of the country. This conviction led him to consistently make bold decisions throughout his life and career. He had tremendous regard for the Tata Group. Mr. Jhunjhunwala’s passing is an irreparable loss and we extend our deep condolences to his family and friends: N Chandrasekaran, Chairman, Tata Sons.

Aug 14, 2022 10:55 IST

Union Minister Piyush Goyal Saddened by Jhunjhunwala's Death

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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.

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.

After hearing his father discuss the stock market with his friends, Jhunjhunwala became interested in it. Jhunjhunwala quoted his father as saying that he should read newspapers on a regular basis because the news was what caused the stock market to fluctuate. While his father permitted him to dabble in the stock market, he refused to provide financial assistance and forbade him from asking friends for money, according to reports.

But Jhunjhunwala was a risk-taker from the beginning. He borrowed money from his brother’s clients with the promise of returning it with higher returns than bank fixed deposits.

In 1986, he made his first significant profit when he purchased 5,000 shares of Tata Tea at Rs 43, and the stock rose to Rs 143 within three months. He made more than three times his money. He earned 20-25 lakh in three years.

Jhunjhunwala has successfully invested in Titan, CRISIL, Sesa Goa, Praj Industries, Aurobindo Pharma, and NCC over the years.

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