Billionaire Rakesh Jhunjhunwala Dies Today Live Updates: The stock market was left in shock when the news of veteran investor Rakesh Jhunjhunwala’s death made headlines on Sunday morning. The billionaire whose net worth was $5.8 billion according to Forbes, died at the age of 62 in Mumbai. According to a PTI report, he died due to cardiac arrest.
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Also known as India’s Warren Buffet, Jhunjhunwala had recently teamed up with former Jet Airways CEO Vinay Dube and former IndiGo chief Aditya Ghosh to launch Akasa Air, the newest low-cost carrier of India An investor with the Midas touch, Jhunjhunwala was also the 48th richest person in the country, PTI reported.
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He also had investments in many companies like Star Health, Rallis India, Escorts, Canara Bank, Indian Hotels Company, Agro Tech Foods, Nazara Technologies, Tata Motors and of course watch and jewelery maker Titan. Jhunjhunwala was also the chairman of Hungama Media and Aptech. He also served on the board of directors of companies such as Viceroy Hotels, Concord Biotech, Provogue India and Geojit Financial Services. According to PTI, his 5.05% stake in Titan alone is worth over Rs 11,000 crore.
Akasa Air on the demise of its founder Rakesh Jhunjhunwala
Akasa Air in a statement on Sunday morning expressed that they are deeply saddened by the untimely demise of Rakesh Jhunjhunwala. The statement further said, “Akasa Air will honor Rakesh Jhunjhunwala’s legacy, values and belief in us by striving to run a great airline. At Akasa we cannot thank Mr. Jhunjhunwala enough for being an early believer in us and repose their trust and faith in us to build a world-class airline. Mr. jhunjhunwala had an indomitable spirit, was deeply passionate about all things Indian and cared deeply for the welfare of our employees and customers. Akasa Air will honor Mr. Jhunjhunwala’s legacy, values and belief in us striving to run a great airline.”
Stay tuned to financialexpress.com for fresh updates on the death of Rakesh Jhunjhunwala.
Veteran Investor Rakesh Jhunjhunwala Disappearance Live Updates:
Death of Rakesh Jhunjhunwala: When Jhunjhunwala spoke about his last wish
“All I have known is trading and investing. I don’t want to do anything else in life,” Jhunjhunwala told Reuters 10 years ago. “I’ll quit the day I die.” – Reuters
Rakesh Jhunjhunwala death: Ratan Tata posts heartfelt tribute on Instagram
Tata Trusts chairman Ratan Tata took to his official Instagram account today to post a heartfelt tribute to Jhunjhunwala. He said the ace investor will always be remembered for “his keen understanding of India’s stock exchanges”. Recalling Jhunjhunwala’s jovial personality, Tata said India’s ‘Big Bull’ will always be remembered for his kindness and foresight.