Business Magnate Rakesh Jhunjhunwala No More

Story Highlights
  • Rakesh Jhunjhunwala breathes last at 62 at Breach Candy hospital on Sunday.
  • He was declared dead on arrival.
  • Jhunjhunwala was the 36th-richest billionaire in India, as per forbes.

New Delhi: Rakesh Jhunjhunwala, “India’s Warren Buffet”, a notable stock market investor, passed away this morning in a Mumbai hospital at the age of 62. He was a founding partner of Akasa Air, the newest airline launched just a week ago in India. 

After experiencing a cardiac arrest, Rakesh Jhunjhunwala who was taken immediately to the Breach Candy Hospital at around 6.45 am was declared dead on arrival by the hospital staff. As per reports Jhunjhunwala had a number of medical problems and was recently treated for kidney ailments.

According to Forbes, Rakesh Jhunjhunwala ranked as the 36th-richest billionaire in India, the veteran trader and investor also known as the Big Bull of Dalal Street had $5.8 billion of estimated net worth.

He recently joined hands with former IndiGo CEO Aditya Ghosh and ex-Jet Airways CEO Vinay Dube to start Akasa Air, which launched its flights last week. At the Akasa Air launch, he was spotted using a wheelchair, due to his health issues. Rakesh Jhunjhunwala’s passing was mourned by Akasa Airlines who stated that he was deeply concerned about the welfare of both its staff members and clients. “Akasa Air will strive to run a wonderful airline, We will honour his legacy, ideals, and believe in us.”

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