Death of India's "Warren Buffett"

According to reports, Rakesh Jhunjhunwala has had health problems for some time.



Rakesh Jhunjhunwala, a multibillionaire Indian businessman, well-known stock trader, investor, and TV personality, passed away on Sunday at the age of 62.


"Rakesh Jhunjhunwala had unbreakable resolve. He made an immeasurable contribution to the financial world and was full of life, witty, and smart. Additionally, he had a strong love for India's development. Following news of Jhunjhunwala's death, Indian Prime Minister Narendra Modi tweeted, "His loss is saddening.


Although the cause of death has not been disclosed, media reports claim that Jhunjhunwala had been having health problems and had been seen earlier this month in a wheelchair.


He is a chartered accountant by trade, and in 1985, while still in college, he began stock trading with just $100. His early ventures were profitable, and he later began running RARE Enterprises, a stock trading company. He became a well-known TV personality thanks to his stock market success, and according to Forbes, he had a net worth of $5.8 billion at the time of his passing.


Several businesses run by the Tata Group conglomerate, one of India's largest conglomerates, are among Jhunjhunwala's investments. These include the watch and jewelry manufacturer Titan, the automaker Tata Motors, the rating agency Crisil, Tata Communications, and Indian Hotels, which owns Taj Hotels. One of his most recent investments is a 40% share in the recently launched low-cost airline Akasa Air. He was a vocal booster of Bollywood and provided funding for a few films.


In addition to amassing wealth, Jhunjhunwala was keen to distribute it. He was the founder of a foundation bearing his name, a trustee of Ashoka University, and a consistent donor to the Agastya International Foundation, which provides science education to the underprivileged.


After the American business mogul, investor, and philanthropist Warren Buffett, Jhunjhunwala is frequently referred to as "India's Warren Buffett."


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