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Rakesh Jhunjhunwala, a veteran stock market investor, passed away at the age of 62 in Mumbai on August 14, 2022. He was suffering from kidney problems and was rushed to the Breach Candy Hospital in Mumbai on 14 August, where he was pronounced dead.
Jhunjhunwala, often referred to as India's Warren Buffett and the Big Bull of Indian markets had a net worth of $5.8 billion as of August 2022.
Facts About Rakesh Jhunjhunwala
- Rakesh Jhunjhunwala was born on 5 July 1960. Born into a Rajasthani family, he spent most of his childhood in Mumbai.
- He graduated from Sydenham College, Mumbai, and subsequently enrolled in the Institute of Chartered Accountants of India.
- Rakesh Jhunjhunwala married Rekha Jhunjhunwala on 22 February 1987, and the couple has three children.
- According to Forbes' Rich List, Jhunjhunwala is the 36th richest individual in the country.
- During his college years, Jhunjhunwala began investing in the stock market because he was interested in the stock market. In 1985, he invested 5000 rupees, which has yielded a staggering INR 11,000 crore.
- In addition to being the chairman of Hungama Media, he also sits on the boards of directors of several firms, including Viceroy Hotels, Concord Biotech, Provogue India, and Geojit Financial Services.
- Among his charitable contributions are St Jude, which runs shelters for cancer-affected children, Agastya International Foundation, and Arpan, which promotes awareness of sexual exploitation among children. Additionally, he supports Ashoka University, Friends of Tribals Society, and Olympic Gold Quest.
- The Akasa Air airline was founded by Rakesh Jhunjhunwala and Vinay Dubey, the former CEO of Jet Airways. As of 9 August 2022, the airline will fly to three cities with two aircraft and an order for 70 more.
- The actor Kavin Dave played a role based on Rakesh Jhunjhunwala in the web series Scam 1992.
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