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Investor Rakesh Jhunjhunwala, dies at age 62

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Investor Rakesh Jhunjhunwala, dies at age 62

rakesh jhunjhunwala

Rakesh Jhunjhunwala, a seasoned stock market investor who was frequently referred to as India’s Warren Buffett, passed away on Sunday morning in Mumbai. He was 62.

A source in his newly founded airline revealed that Jhunjhunwala passed away early this morning as the result of a heart arrest.

According to Forbes, Jhunjhunwala, who is frequently referred to as “India’s Warren Buffett” and the “Big Bull of Indian markets,” had a net worth of $5.8 billion (about Rs 46,000 crore).

He began trading stocks while still a college student with barely Rs 5,000, and most recently joined up with the former CEOs of Jet Airways and IndiGo to create Akasa Air, India’s newest low-cost airline.

He married Rekha Jhunjunwala, a stock market investor, and registered in the Institute of Chartered Accountants of India after earning his degree from Sydenham College in 1985.

Jhunjhunwala was the owner of RARE Enterprises, a privately held stock trading company.

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Additionally, he was the owner of Akasa Air, the country’s newest airline, which launched earlier this month.

When asked why he intended to launch an airline given the poor state of aviation, he responded, “I say I’m prepared for failure.”

He consistently had optimism about the Indian stock market, and the majority of the stocks he bought ended up being multibaggers.

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