Rakesh Jhunjhunwala passed away on Sunday at 62 after a medical emergency. The billionaire had been sick for some time and besieged with several ailments, including kidney issues, that left him in a wheelchair.
Reports from India claim that Jhunjhunwala was rushed to Mumbai’s Breach Candy hospital early on Sunday but was later pronounced dead.
7 facts about Rakesh Jhunjhunwala
1. Rakesh Jhunjhunwala was India’s 36th richest man and he had a net worth of $5.5 billion.
2. Although, he is wealthy, what made him stand out was his empathetic qualities and ideologies.
3. He was an accountant by trade but quickly recognised the potential of tech and the media. Jhunjhunwala started investing in college.
4. He managed his own investment assets and was nicknamed the “Big Bull of India” and the “King of Bull Market” because of his predictions for the Indian stock market.
5. By the time of his passing, he 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, Innovasynth Technologies (I) Limited, Mid Day Multimedia Limited, Nagarjuna Construction Company Limited, Viceroy Hotels Limited, and Tops Security Limited.
6. He is also a shareholder in Titan Company, an Indian jewelry producer, and his investment there alone is almost worth a billion dollars.
7. Just before he died, the Akasa Air airline he co-founded with former Jet Airways CEO Vinay Dubey completed its first flight.
Tributes have been pouring in for the famous tech investor.
Prime Minister of India Narendra Modi tweeted, “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.”
Founder of India’s biggest online cricket coaching platform Cricuru, Virender Sehwag also said, “End of an Era as the Big Bull of the Dalal Street , #RakeshJhunjhunwala passes away.
Condolences to his family and loved ones. Om Shanti 🙏”
The country’s minister of finance, Nirmala Sitharaman wrote, “Shri Rakesh Jhunjhunwala is no more. Investor, bold risk taker, masterly understanding of the stock market, clear in communication- a leader in his own right. Fondly remember several conversations we’ve had. Had strong belief in India’s strength and capabilities. Condolences.”
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