Ace investor Rakesh Jhunjhunwala passes away

New Delhi: Ace investor Rakesh Jhunjhunwala passed away Sunday morning in Mumbai’s Breach Candy hospital at 6.30 am.

On feeling some uneasiness in health, he was rushed to the hospital. The doctors reported that he also suffered from kidney related problem and acute multiple organs failure.

Also read: From a capital of Rs 5,000 to being India’s ‘Warren Buffett’, the unparalleled journey of Rakesh Jhunjhunwala

He was 62.

Jhunjhunwala was an Indian billionaire business magnate, stock trader and investor.

Also read: PM Modi condoles passing away of Rakesh Jhunjhunwala

Jhunjhunwala grew up in a Rajasthani family, in Bombay, where his father worked as a Commissioner of Income Tax. His surname indicates that his ancestors belonged to Jhunjhunu in Rajasthan.

He graduated from Sydenham College and thereafter enrolled at the Institute of Chartered Accountants of India.

He had an estimated net worth of $5.5 Billion (as of July 2022) making him the 36th richest man in India.

Jhunjhunwala recently entered into aviation sector with the launch of Akasa Air in association with former Jet Airways CEO Vinay Dubey.