Rakesh Jhunjhunwala, the founder of Akasa Air, has died
Rakesh Jhunjhunwala Passes Away:
According to accounts, billionaire investor Rakesh Jhunjhunwala passed suddenly on Sunday. His projected $5 billion net wealth.
On Sunday morning, seasoned investor Rakesh Jhunjhunwala passed suddenly. The investor known as "India's Warren Buffet" was described as having "the Midas touch."
He had been ill for a few days and died today at the Breach Candy Hospital in Mumbai.
He was one of the wealthiest persons in the nation and a businessman as well as a professional accountant. Jhunjhunwala served as a director of Viceroy Hotels, Concord Biotech, Provogue India, and Geojit Financial Services in addition to serving as chairman of Hungama Media and Aptech.
Jhunjhunwala started experimenting with the stock market while still in college. After graduating from the Institute of Chartered Accountants of India, he chose to plunge straight into Dalal Street, despite having registered there. In 1985, Jhunjhunwala made a capital investment of Rs 5,000. By September 2018, that capital had increased to Rs 11,000 crore.
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 sources, even though his father allowed him to engage in the stock market, he prevented him from asking friends for money and didn't offer any financial support.
He was well recognised for his stock market forecasts and upbeat outlooks, earning the nicknames "Big Bull of India" and "King of Bull Market."
Vinay Dubey, a former Jet Airways CEO, and Rakesh Jhunjhunwala launched Akasa Air, an airline based in India. As of August 9th, 2022, the airline will fly to 3 cities with a total of 70 additional aircraft on order.
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