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Rakesh Jhunjhunwala, ‘India’s Warren Buffett’, dies at 62
- Stock investor Rakesh Jhunjhunwala with an estimated net worth of US$6 billion, died early on Sunday at age 62, his family said
- Jhunjhunwala died just a week after he launched the country’s newest airline, the ultra low-cost Akasa Air
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Indian billionaire stock investor Rakesh Jhunjhunwala, dubbed India’s Warren Buffett with an estimated net worth of US$6 billion, died early on Sunday at age 62, his family said.
A chartered accountant by profession from the desert state of Rajasthan, Jhunjhunwala started dabbling in stocks while in college and went on to manage a stock trading firm, RARE Enterprises.
“Rakesh-ji passed away surrounded by his family and close aides,” a family member told Reuters, using a term for respect for a man.
The cause of death was not immediately announced.
The promoter of India’s newest airline, the ultra low-cost Akasa Air, Jhunjhunwala appeared days ago at its public launch. He is survived by his wife and three children.
Jhunjhunwala had invested US$35 million for an estimated 40 per cent stake in Akasa Air which made its maiden flight in the Asian country’s crowded aviation market last Sunday.
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