PM condoles passing away of noted stock investor Rakesh Jhunjhunwala

PM condoles passing away of noted stock investor Rakesh Jhunjhunwala

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The Prime Minister, Shri Narendra Modi has expressed deep grief over the passing away of noted stock investor Rakesh Jhunjhunwala.

In a tweet, the Prime Minister said;

“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.”

Rakesh Jhunjhunwala was a billionaire Indian businessman, stock trader, and investor. He began investing in 1985 with a capital of ₹ 5,000, with his first major profit in 1986. He had an estimated net worth of $5.5 billion as of July 2022, making him the 36th richest Indian.

Rakesh Jhunjhunwala, an investor dubbed “India’s Warren Buffett” with a net worth estimated at US$6 billion, passed away on Sunday (Aug 14) at the age of 62, according to his family.

A chartered accountant by profession, Jhunjhunwala began trading stocks during college and eventually managed a stock trading company, RARE Enterprises.

Jhunjhunwala’s investments include companies owned by Tata Group, one of India’s largest conglomerates. Tata Motors, Titan Watch, Tata Communications, and Indian Hotels Co, which operates Taj hotels, are among these companies.

OV Digital Desk