Veteran stock market investor Rakesh Junjunwala has died in Mumbai at the age of 62. Over the years, Jhunjhunwala has invested in many well-known and established companies as well as upcoming startups.
Often referred to as India’s Warren Buffett or the Big Bull of the Indian market, Junjunwala’s net worth was $5.8 billion as of August 2022. Rakesh Jhunjhunwala-backed low-cost carrier Akasa Air entered service on August 7.
According to Forbes, Junjunwala will be the 36th richest person in India in 2021 and the 438th richest person in the world so far in 2022.
In early July 2021, Jhunjhunwala, his wife Rekha Jhunjhunwala and eight others settled a lawsuit for alleged insider trading of Aptech shares by agreeing to pay more than Rs 370 crore. . This is the total amount paid by 10 individuals, including settlement fees, liquidation of ill-gotten gains, and interest. The case was settled under the so-called consent route. Under this route, alleged wrongdoers can settle pending issues with the market regulator, the Securities and Exchange Board of India (Sebi), without admitting or denying the charges against them. I can.
Also Read: Who is Rakesh Jhunjhunwala? His portfolio includes companies such as Star Health, Titan, Rallis India, Escorts, Canara Bank, Indian Hotels Company, Agro Tech Foods, Nazara Technologies and Tata Motors. Overall, he held shares in his 47 companies as of the end of his June quarter. He owns about 19 companies including Tata Communications, Titan Company, Bilcare, Va Tech Wabagh, Federal Bank and Aptech.
Born on 5th July 1960, Rakesh Jhunjhunwala was raised in a Rajasthani family in Bombay. There, his father worked as an income tax commissioner. After he graduated from Sydenham University, he enrolled in the Institute of Chartered Accountants of India. Rakesh Jhunjhunwala entered the stock market in 1985 with just Rs 5,000. At the time, Sensex had 150 points for him. Prime Minister Narendra Modi expressed his sorrow at the passing of Junjunwala. He tweeted, “Rakesh Jhunjhunwala was indomitable. Vibrant, witty, insightful and left an indelible contribution to the financial world. He was also very passionate about India’s progress. His death is sad.My condolences to his family and admirers.” .Omshanty.
Rakesh Jhunjhunwala was indomitable. Vibrant, resourceful and insightful, he left an indelible mark on the financial world. He was also very passionate about India’s progress. his death is sad. My condolences to his family and fans. Om Shanti. pic.twitter.com/DR2uIiiUb7
— Narendra Modi (@narendramodi) August 14, 2022
In mourning the demise of Big Bull, IIFL Group founder Nirmal Jain said: You met him, he came across as a man full of life.
When he had a party, he partied hard. He displayed positivity and cared deeply for everyone he knew. His advice was heartfelt and he was always eager to help. In short, he is a man with a heart for gold. ” Home Minister Amit Shah tweeted: “I am deeply distressed to learn of the passing of Mr Rakesh Junjunwala Ji. His extensive experience and understanding of the stock market has inspired countless investors. His bullish outlook will always be remembered.My heartfelt condolences to his family.Om Shanti Shanti.”
Distressed upon learning of the death of Rakesh Jhunjhunwala Ji. His extensive experience and understanding of the stock market has inspired countless investors. His bullish outlook will always be remembered. My heartfelt condolences to his family. Om shanty shanty.
— Amit Shah (@AmitShah) August 14, 2022
When Defense Minister Rajnath Singh expressed his grief, compliments poured in from all corners. He tweeted, “Shocked by the sudden passing of veteran investor Sri Rakesh Junjunwala. He will be remembered for his contributions to business and industry. He was at the forefront of creating a culture of investing in the market.My condolences to his family and many fans.”
We were shocked by the sudden passing of veteran investor Shri Rakesh Jhunjhunwala. He will be remembered for his contributions in business and industry. He was at the forefront of creating a culture of investing in the Indian stock market. Condolences to his family and many fans.
— Rajnath Singh (@rajnathsingh) August 14, 2022
Motilal Oswal, MD and CEO of Motilal Oswal Group, said: He had a deep understanding of the market based on company fundamentals. His communication His style was candid”.
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