By Nimisha Sharma | On Sun 14 Aug 2022
Rakesh Jhunjhunwala
The promoter of Akasa Air, Mr. Jhunjhunwala appeared days ago at its public launch. He is survived by his wife and three children. Rakesh Jhunjhunwala married Rekha Jhunjhunwala on 22 February 1987. The couple had three children. Their daughter Nishtha was born on 30 June 2004. Their twin sons Aryaman and Aryaveer were born on 2 March 2009.
Known as “India’s Warren Buffet” for his ability to pick up low-priced quality stocks much before they become high performers, Mr. Jhunjhunwala was a cult figure in the Indian capital market. Retail investors followed his investment pattern.
Jhunjhunwala’s interest in stock markets arose when he observed his father discussing the markets with his friends. While his father guided him on the markets, he never gave him money to invest and forbade him from asking friends for money. With his savings at hand, Rakesh started investing early when in college. Beginning with ₹5,000 capital in 1985, today his investment has grown to ₹11,000 crores.
Besides being an active investor Jhunjhunwala was the chairman of Aptech Limited and Hungama Digital Media Entertainment Pvt. Ltd. and sat on the board of directors of Prime Focus Limited, Geojit Financial Services, Bilcare Limited, Praj Industries Limited, Provogue India Limited, Concord Biotech Limited, Innovassynth Technologies 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.
At what time did Rakesh Jhunjhunwala die?
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.
PM Modi Tweeted
Prime Minister Modi took to Twitter to pay tributes to Mr Jhunjhunwala and offered condolences to his family.
“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,” PM Modi wrote.
