PM Modi condoles demise of ace investor Rakesh Jhunjhunwala, says he was 'indomitable'

Prime Minister Narendra Modi on Sunday condoled the demise of India's ace investor Rakesh Jhunjhunwala, who passed away this morning. Remembering the legendary investor who was also known as 'Big Bull of Dalal Street', the PM said Jhunjhunwala was indomitable who has left behind an indelible contribution to the financial world. Taking to Twitter, PM Modi wrote, “Rakesh Jhunjhunwala was indomitable. Full of life, witty and insightful, he leaves behind an indelible contribution to the financial world.” 

The Prime Minister also said, “He was also very passionate about India’s progress. His passing away is saddening. My condolences to his family and admirers. Om Shanti.” 

Jhunjhunwala had an estimated net worth of $5.5 Billion

Born on July 5, 1960, Jhunjhunwala grew up in a Rajasthani family, in Mumbai, where his father worked as an Income Tax Commissioner. He graduated from Sydenham College and thereafter enrolled at the  Chartered Accountants' Institute of India.

Jhunjhunwala had an estimated net worth of $5.5 Billion (as of July 2022), which made him the 36th wealthiest man in India.

In addition to being an active stock market investor, Jhunjhunwala was the chairman of Aptech Limited and Hungama Digital Media Entertainment Pvt. Ltd. He was also on the board of directors of Prime Focus Ltd, Geojit Financial Services, Bilcare Ltd, Praj Industries Ltd, Provogue India Ltd, Concord Biotech Ltd, Innovasynth Technologies Ltd, Mid Day Multimedia Ltd, Nagarjuna Construction Company Ltd, Viceroy Hotels Ltd, and Tops Security Ltd.

Rakesh Jhunjhunwala recently co-founded Indian airline Akasa Air which took its first flight from Mumbai to Ahmedabad on August 7. Akasa Air currently has 2 aircraft, with an additional order for 70 more aircraft, and flies to 3 cities as of August 9, 2022.

(Image: Twitter/ @narendramodi)