The Co- Founder Of Akasa Air Rakesh JhunJhunwala Has Passed Away at The Age of 62!

The Co- Founder Of Akasa Air Rakesh JhunJhunwala Has Passed Away at The Age of 62!

Death of Rakesh Jhunjhunwala: According to reports, the seasoned trader-turned-investor known as the Big Bull of Dalal Street had a net worth of almost $5.8 billion. This morning, Rakesh Jhunjhunwala, an icon in the Indian stock market, passed away in a Mumbai hospital. He also helped launch Akasa Air, a new airline in India, which began service only last week.

Here Are the Top 10 Updates on This Big Story

  • At approximately 6:45 a.m., Rakesh Jhunjhunwala collapsed and was transported to the Breach Candy Hospital in Mumbai. When he got there, the doctors pronounced him dead. He was 62.
  • Jhunjhunwala had been in and out of the same hospital over the past three weeks, first for kidney-related concerns and then for other ailments.
  • According to Forbes, the veteran trader-turned-investor known as the Big Bull of Dalal Street had a net worth of almost $5.8 billion. On India’s list of billionaires, he made up the 36th spot.
  • He recently formed a partnership with the formerly Jet Airways CEO Vinay Dube and former IndiGo chief Aditya Ghosh to start Akasa Air, which began operations last week. At the unveiling of Akasa Air, he attended while using a wheelchair.

Read More: After Viewing Aamir Khan’s Laal Singh Chaddha, Ali Fazal Had This To Say To The Film’s “Naysayers”!

  • Although generally optimistic, Rakesh Jhunjhunwala earned the nickname “India’s Warren Buffett” due to his outlook on the country’s stock market. As the aircraft sector was reeling from the devastating effects of the Covid-19 outbreak, he decided to enter the field.
  • When asked about it, he commented, “Many people don’t understand why I want to launch an airline. The alternative to doing something and failing is to never try at all.”
  • More than thirty businesses were funded by Jhunjhuwala’s investments. The companies Titan, Star Health, Tata Motors, and Metro Brands were among his most valuable investments. Besides Hungama Media, he also led Aptech as its chairman.
  • The initials of his and his wife’s names, both investors, inspired the name of their private stock trading firm, Rare Enterprises.

  • In the year 1960 on July 5th, Rakesh Jhunjhunwala entered this world. In Mumbai, where he was born, his dad was an IRS agent. After finishing up at Sydenham College, he enrolled in the Chartered Accountants Course at the Institute of India.
  • In 1985, Jhunjhunwala started investing with 5,000 when the benchmark index Sensex on the Bombay Stock Exchange was at 150; it now trades at over 59,000.
  • Indian Prime Minister Narendra Modi expressed sorrow at his passing and praised his “indelible contribution to the financial world.” Jyotiraditya Scindia, Union Minister for Civil Aviation, boasted that he will be remembered for bringing Akasa Air, India’s first new airline in more than a decade, into existence.

Read More: Charu Asopa Releases an Emotional Video that Hints at Losing Something in The Wak of Divorce News with Rajeev Sen

Check Here for More Updates: BulletinXP

Lucy Miles

Lucy is a content editor at Bulletin XP, where she works to produce top-quality materials. With a journalism background and a love of clear communication, she excels at creating engaging and accurate content. In her free time, Lucy enjoys reading, writing, and spending time with her loved ones.

Post navigation