Rakesh Jhunjhunwala, a seasoned stock market investor known as "India's Warren Buffett" and with a net worth of USD 5.8 billion, passed suddenly in mumbai on the morning of august 14th. He was 62. A source in his newly founded airline claimed that Jhunjhunwala passed away early in the morning as a result of a heart arrest. According to Forbes, Jhunjhunwala had a net worth of USD 5.8 billion and was frequently referred to as "India's Warren Buffett" and the "Big Bull" of indian markets.

He began trading stocks while still a student and recently joined up with the former CEOs of Jet Airways and indigo to create Akasa Air, India's newest low-cost airline. This month, the airline launched its commercial operations with an inaugural flight from mumbai to Ahmedabad.

Jhunjhunwala ranked as the 48th wealthiest person in the nation. He was a chartered accountant by training, but he decided against auditing financial statements. Jhunjhunwala is alleged to have contributed Rs 5,000 in 1985 as capital. That capital had grown to Rs 11,000 crore by september 2018. Star Health, Titan, Rallis India, Escorts, Canara Bank, indian Hotels Company, Agro Tech Foods, Nazara Technologies, and Tata Motors are just a few of the businesses in his portfolio.

At the end of the june quarter, he owned a total of 47 enterprises. His main holdings included Tata Motors, Metro Brands, Titan, and Star Health. He was on the boards of directors for companies like Viceroy Hotels, Concord Biotech, Provogue India, and Geojit Financial Services. He was the chairman of Hungama media and Aptech.

Jhunjhunwala, who was born on July 5, 1960, to a Rajasthani family, was raised in bombay where his father was an income tax commissioner. After completing his studies at Sydenham College, he applied to the Institute of Chartered Accountants of India. When he purchased 5,000 shares in Tata Tea in 1986 for Rs 43, the price increased to Rs 143 within three months, and he made his first significant profit. He made between Rs 20 and 25 lakh in three years.



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G GOWTHAM

14/08/2022 11:12 AM