On Sunday morning, 14th August, India's "Warren Buffet" and veteran stock market investor Rakesh Jhunjhunwala passed away at the age of 62.
The investor was not keeping well for the past few days and was declared dead on being brought to the Breach Candy Hospital at 6:45 AM today. He was suffering from multiple health issues including kidney ailments.
Both a trader and a chartered accountant, and one of the richest men in the country, Jhunjhunwala was last seen in public at India's newest airline Akasa Air's launch which took off in Indian skies earlier this month.
Jhunjhunwala was not only Akasa Air's owner but also chairman of Hungama Media and Aptech, as well as a director of Viceroy Hotels, Concord Biotech, Provogue India, and Geojit Financial Services. Jhunjhunwala ran a privately-owned stock trading firm called RARE Enterprises.
Jhunjhunwala was born on July 5, 1960. He grew up in Mumbai. After graduating from Sydenham College in 1985, he enrolled at the Institute of Chartered Accountants of India and married Rekha Jhunjunwala, who is also a stock market investor.
He was always upbeat about India's stock market and whatever stocks he purchased mostly turned into a multibagger.
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