Rakesh Jhunjhunwala, a billionaire investor, died at the age of 62
- ByStartupStory | August 15, 2022
Rakesh Jhunjhunwala, a millionaire business entrepreneur and seasoned investor, died on Sunday morning, a significant loss to the economic world. Jhunjhunwala, known as the “Big Bull of Dalal Street” and the “King of Bull Market,” died at the age of 62.
According to accounts, Jhunjhunwala had been in a wheelchair for a long time and was suffering from a variety of health concerns. At 6:45 a.m., he was taken to Mumbai’s Breach Candy hospital, where physicians confirmed him dead.
Jhunjhunwala was born on July 5, 1960, in Mumbai to a Rajasthani family, where his father was working as an Income Tax Commissioner. He attended Sydenham College before enrolling in the Chartered Accountants Institute of India. Jhunjhunwala has a net worth of $5.5 billion (as of July 2022), ranking him 36th among Indian billionaires.
Jhunjhunwala was the chairperson of Aptech Limited & Hungama Digital Media Entertainment Pvt. Ltd., in addition to being a prominent stock market investor. Prime Focus Ltd, Geojit Financial Services, Bilcare Ltd, Praj Industries Ltd, Provogue India Ltd, Concord Biotech Ltd, Mid Day Multimedia Ltd, Nagarjuna Construction Company Ltd, Viceroy Hotels Ltd, & Tops Security Ltd were also on his board of directors.
Rakesh Jhunjhunwala recently co-founded Akasa Air, which launched its first flight from Mumbai to Ahmedabad on August 7. As of August 9, 2022, Akasa Air travels to three cities and has an additional order for 70 more aircraft.
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