Indian billionaire Rakesh Jhunjhunwala dies at 62

Sunday, August 14, 2022

Indian billionaire stock investor Rakesh Jhunjhunwala, known as ‘Big Bull’ of Indian stock market, died on Sunday at age 62, media said.

The promoter of India's newest airline, Akasa, Jhunjhunwala appeared days ago at its public launch. He is survived by his wife and three children.

"Rakesh Jhunjhunwala was indomitable," Prime Minister Narendra Modi wrote on Twitter. "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." Modi ended with "Om Shanti", an invocation of peace.

The self-made businessman was the son of an Income Tax officer and is survived by his wife -- Rekha -- and three children. The ace investor was not keeping well for the past few days. He was an inspiration for wealth creation for crores. He was one of the rare market participants who could successfully handle both the worlds of trading and investing.

The seasoned trader-cum-investor used to emphasise having realistic expectations. In media interviews, he had said that if one can make an 18 or 21 per cent return on their portfolio, they are no less than kings or emperors.

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