Ace Investor Rakesh Jhunjhunwala And Akasa Air Founder Passes Away

Mumbai: India's billionaire investor and veteran businessman, Rakesh Jhunjhunwala, who also was one of the co-founders of Akasa Air, passed away on at age of 62 here on Sunday.

The 'Big Bull' of the stock market who had been ill for a long time, breathed his last in Mumbai today. He was last seen in public at the opening ceremony of Akasa Air.

Jhunjhunwala started investing in the stock market right from his college days. Once Rakesh Jhunjhunwala told that initially he had invested $100. The special thing is that then the Sensex index was at 150 points, which is now trading at the level of 60 thousand.

He was also called the Warren Buffett of the Indian stock market. According to Forbes, Rakesh Jhunjhunwala's net worth is $5.8 billion.

The 62-year-old, Jhunjhunwala was also the owner of his own stock trading company Rare Enterprises. Big Bull was the biggest investor in stocks like Titan, Star Health, Tata Motors and Metro brands.

Expressing grief over his demise, PM Modi took to the micro-blogging site twitter and wrote, ''Rakesh Jhunjhunwala was indomitable. Full of life, witty and insightful, he has left behind an indelible contribution to the financial world. He was also very passionate about the progress of India. His passing is sad. My condolences to his family and fans. om Shanti.'

Apart from proving himself in the stock market, Jhunjhunwala was also the owner of India's newest airline, Akasa Air, which took off in the Indian skies earlier this month.

The market is also in a shocked state after the news of his demise. Notably, it was believed that which ever the stocks he touched that turned into gold.

He was of the opinion that everyone should definitely invest in the stock market.

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