India’s Warren Buffet Rakesh Jhunjhunwala, a renowned stock market investor passes away yesterday at the age of 62.
He had been ill for a few days before passing away today at Mumbai’s Breach Candy Hospital, according to hospital sources. On July 5, 1960, Jhunjhunwala was born. He was raised in Mumbai.
He married Rekha Jhunjunwala, a stock market trader, and registered in the Institute of Chartered Accountants of India after earning his degree from Sydenham College in 1985.
Jhunjhunwala was the owner of RARE Enterprises, a privately held stock trading company. Additionally, he was the owner of Akasa Air, country’s newest airline, which launched earlier this month.
When asked why he intended to launch an airline given the poor state of aviation, he responded, “I say I’m prepared for failure.”
He consistently had optimism about the Indian stock market, and the majority of the stocks he bought ended up being multibaggers.