Rakesh Jhunjhunwala News: Biggest Bull in Indian Stock Market Passes Away

Hardly anyone who is investing in the stock market does not know about Rakesh Jhunjhunwala. Rakesh Jhunjhunwala is known as the biggest bull in the Indian stock market. He was a billionaire Indian businessman, stock trader, and investor. He began investing in 1985 with a capital of Rs 5,000 and made his first significant profit in 1986. He was the 438th richest person in the world at the time of his death, with an estimated net worth of $5.8 billion. Rare Enterprises, his own asset management firm, was one of his partners. In addition to being an active investor, he served as chairperson and director for several companies. He was also one of the founders of Akasa Air. He was charged with insider trading and agreed to settle with the SEBI in 2021. Jhunjhunwala was widely known for his stock market predictions and was dubbed “India’s Warren Buffett” or the “Big Bull of India.”

Has Rakesh Jhunjhunwala Passed Away?

Yes, it is with great sadness that Rakesh Jhunjhunwala ji said goodbye to this world and merged at the feet of that Supreme Father. 

When did Rakesh Jhunjhunwala Pass Away?

The Biggest Bull in the Stock Market Passed away on 14 August 2022. 

What was the age of Rakesh Jhunjhunwala?

Rakesh Jhunjhunwala was born on 5th July 1960 and died on 14th August 2022. His age was 62 years when he passed away.

How did Rakesh Jhunjhunwala Pass Away?

According to the sources, Rakesh Jhujhunwala passed away due to a cardiac arrest.

Here is all you need to know about Rakesh Jhujhunwala

  • Rakesh Jhunjhunwala was rushed to Mumbai’s Breach Candy Hospital at around 6.45 a.m. after suffering a cardiac arrest. The hospital authorities declared him dead on arrival. He was 62.
  • Jhunjhunwala was recently released from the same hospital after being treated for kidney problems. He was cremated last evening (14 August 2022)  at Mumbai’s Banganga crematorium.
  • The veteran trader-turned-investor known as the Big Bull of Dalal Street was said to be worth $5.8 billion. According to Forbes’ 2021 list, he was the 36th richest billionaire in India.
  • He recently collaborated with former Jet Airways CEO Vinay Dube and former IndiGo CEO Aditya Ghosh to launch Akasa Air, which took to the skies last week. He was seen in a wheelchair at the Akasa Air launch.
  • In a statement, Akasa Air expressed its condolences for Rakesh Jhunjhunwala’s death and stated that he was deeply concerned about the well-being of its employees and customers. “Akasa Air will strive to run a great airline in order to honor his legacy, values, and belief in us,” the statement said.
  • Rakesh Jhunjhunwala, dubbed “India’s Warren Buffett,” was consistently optimistic about the country’s stock market.
  • Jhunjhuwala had a total of more than three dozen investments. His largest holdings included Titan, Star Health, Tata Motors, and Metro Brands. He also served as the chairman of Hungama Media and Aptech.
  • Rare Enterprises, his privately held stock trading firm, was named after the first two letters of his name and the name of his wife Rekha, who is also an investor.
  • On July 5, 1960, Rakesh Jhunjhunwala was born. In Mumbai, his father worked as an income tax officer. Jhunjhunwala, a chartered accountant by profession, began investing with 5,000 in 1985 when the Bombay Stock Exchange’s benchmark index Sensex was at 150; it now trades at over 59,000.
  • Prime Minister Narendra Modi expressed condolences for his death, saying the legendary investor “leaves an indelible contribution to the financial world.”
  • Jyotiraditya Scindia, Union Minister for Civil Aviation, said he will be remembered for giving India its new airline, Akasa Air, after more than a decade of waiting.

Rakesh Jhunjhunwala had a great contribution to the Indian Stock Market and he will remain the Biggest Bull in the Indian Stock market. He was the true Zem of the Indian Stock Market. People often gave him the title of Warren Buffet of India. Guest Blogging Pro and the people of India will miss him badly but we will never forget him and his contribution to the whole world.

Ashok Kumar

Digital Marketing Expert With 7 Years of Experience.

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