Legendary investor Rakesh Jhunjhunwala dies at 62

Rakesh Jhunjhunwala, a multibillionaire businessman, stock trader, and investor, died on Sunday morning at the age of 62. According to sources, he was brought dead to the Mumbai Breach Candy Hospital at 6:45 in the morning. He was discharged from the hospital almost 3 weeks ago.

Recently, Rakesh Jhunjhunwala entered the aviation sector with Akasa Air, which took off on August 7. Jhunjhunwala was the chairman of Aptech Limited and Hungama Digital Media Entertainment Pvt. Ltd. in addition to being an investor. He served as a director for a number of Indian businesses. He served as a consultant to the International Movement to Unite Nations of India.

Narendra Modi, the prime minister, expressed his sorrow over Jhunjhunwala's passing. "Rakesh Jhunjhunwala had unbreakable strength. He made an immeasurable contribution to the financial world and was full of life, witty, and insight. Additionally, he had a strong passion for India's development. We are saddened by his passing. My sympathies go out to his family and supporters. Om Shanti “he tweeted.

Rakesh Jhunjhunwala, who was born on July 5, 1960, into a middle-class family, made his initial investment in the stock market in 1985 with just Rs 5,000. At the time, he was a college student. His net worth was estimated by Forbes to be around $5.5 billion as of its most recent estimate.

Jhunjhunwala developed an interest in the stock market after hearing his father and his friends talk about it. Jhunjhunwala cited his father as telling him to regularly read the newspaper because it was the news that affected the stock market. According to reports, even though his father allowed him to dabble in the stock market, he forbade him from asking friends for money and didn't offer any financial support.

When Rakesh Jhunjhunwala purchased shares of Tata Tea in 1986, he made his first significant profit. He purchased 5,000 shares of Tata Tea for only Rs. 43, and within three months, the stock increased to Rs. 143. He profited more than three times over. Jhunjhunwala made between Rs 20 and Rs 25 lakhs over the following three years.

Ratan Raajputh remembers a terrifying incident when a boy dragged her into a jungle

"I am truly feeling nostalgic thinking about the rerun of Kasauti Zindagi Ki": Hiten Tejwani

UK PM Race: Minister shifts allegiances from Rishi Sunak to Liz Truss

- Sponsored Advert -

Most Popular

- Sponsored Advert -