Rakesh Jhunjhunwala, Indian billionaire business magnate, stock trader and investor, passed away in Mumbai, on Sunday morning. He was 62.
He was not keeping well for the past few days and breathed his last today in Breach Candy Hospital in Mumbai, as per the hospital sources.
He had a sudden cardiac arrest, which was also the reason for his death. He was also diabetic and had recently undergone an angioplasty and was suffering from chronic kidney disease, was on chronic dialysis & was responding well, quoted Dr Pratit Samdani, Breach Candy Hospital.
Jhunjhunwala was born on July 5, 1960. He grew up in Mumbai.
After graduating from Sydenham College in 1985, he enrolled at the Institute of Chartered Accountants of India and married Rekha Jhunjunwala, who is also a stock market investor.
Jhunjhunwala ran a privately-owned stock trading firm called RARE Enterprises. He was also the owner of 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.”He was always bullish about India’s stock market and whatever stocks he purchased mostly turned into a multibagger.
(With ANI Inputs)