Share market veteran Rakesh Jhunjhunwala passed away at the age of 62
Share market veteran Rakesh Jhunjhunwala has passed away, he breathed his last at the age of 62. Rakesh Jhunjhunwala was an investor with a 'Midas touch', also known as 'India's Warren Buffet'.
Indian billionaire businessman, stock market trader and investor Rakesh Jhunjhunwala has passed away today at the age of 62. Rakesh Jhunjhunwala was born on 5 July 1960 and grew up in a Rajasthani family in Bombay. He graduated from Sydenham College and then joined the Institute of Chartered Accountants of India. According to media reports, his estimated net worth as of July 2022 was $5.5 billion, making him the 36th richest person in India.
Rakesh Jhunjhunwala was a business, stock market trader, investor as well as a chartered accountant. He was the Chairman of Hungama Media and Aptech as well as the Director of Viceroy Hotels, Concorde Biotech, Provogue India and Geojit Financial Services.
Rakesh Jhunjhunwala's father was an Income Tax Officer. Along with this, he also had a lot of interest in the stock market, so his father used to talk about the stock market with his friends. In such a situation, Rakesh grew interested in the stock market at a young age. After completing CA studies, Rakesh Jhunjhunwala told his father that I want to invest in the stock market. Then Rakesh's father refused to give him money and where I will not give you money for the share market. His father also said that you will not even take money from your friends for the stock market, but Rakesh Jhunjhunwala stuck to his insistence. He did not give up and started investing in the stock market with Rs 5,000 of his deposited capital and then made the identity of Indian Warren Buffett in the stock market.
Rakesh Jhunjhunwala was also known as the "Big Bull of India" and "King of Bull Market". His portfolio was followed from small investors to big investors.
Expressing grief over the death of Rakesh Jhunjhunwala, Prime Minister Narendra Modi tweeted that Rakesh Jhunjhunwala was indomitable. Full of life, witty and insightful, he has left behind an indelible contribution to the financial world. He was also very passionate about the progress of India, his passing is sad. My condolences to his family and fans.