Akasa investor and Big Bull Rakesh Jhunjhunwala passes away at 62

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Rakesh Jhunjhunwala’s privately owned stock trading firm Rare Enterprises derived its name from the first two initials of his name and his wife Rekha.

Condoling Rakesh Jhunjhunwala’s death, Prime Minister Narendra Modi said: ‘His passing away is saddening. 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.’

Veteran stock market investor Rakesh Jhunjhunwala passed away in Mumbai on 14th August 2022. He was 62. He was not keeping well for the past few days and breathed his last today in Breach Candy Hospital in Mumbai, news agency ANI reported. He is survived by his wife and three children. Son of an income tax officer, Jhunjhunwala started his journey in stock markets while still in college with a capital of just ₹5,000 and when Sensex was at ₹150. Known as “India’s Warren Buffett”, Jhunjhunwala’s wealth was pegged at over ₹40,000 crore, according to Forbes.

“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.”

A chartered accountant by education, Jhunjhunwala was always bullish about India’s stock market and some of his picks turned into multibaggers.  He ran a privately-owned stock trading firm called RARE Enterprises, which derived its name from the first two initials of his name and his wife Rekha. Titan, Star Health, Tata Motors and Metro Brands were some of his largest holdings.

He also backed India’s newest airline Akasa Air which took off in Indian skies earlier this month. A lot of people questioned why he planned to start an airline when aviation was not doing well, to which he replied, “I say I’m prepared for failure.”

Akasa Air began commercial operations this month with a maiden flight from the financial capital of Mumbai to the city of Ahmedabad. Jhunjhunwala had teamed up with ex-Jet Airways CEO Dube and former IndiGo head Aditya Ghosh to set up Akasa.

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.

Devendra Grover
Devender was born in the year when the Beatles Group was formed. He holds two master’s degrees in English Literature and Public Administration. He also has an Honors degree in English Literature and a post-graduate diploma in Corporate Communications and Public Relations. He ventured into business, forming his own Media House, Profiles Media Network Private Limited, a twenty-year-old company. Excelling as an editor, Marketing, PR, Anchor, and Advertising specialist, he is now expertly navigating the world of social media. A widely traveled professional internationally, Devender has a deep understanding of Travel and Tourism, Fashion and Lifestyle, Aviation, and Hospitality Industry. Connect with Devender Grover @ [email protected]