Billionaire Rakesh Jhunjhunwala, known as ‘India’s Warren Buffett,’ dies at 62

Billionaire Rakesh Jhunjhunwala, known as ‘India’s Warren Buffett,’ dies at 62

Billionaire investor Rakesh Jhunjhunwala, nicknamed "India's Warren Buffett" for his successful stock market bets, died on Sunday at the age of 62, one of his companies confirmed.

Billionaire Rakesh Jhunjhunwala, known as ‘India’s Warren Buffett,’ dies at 62

A chartered accountant who started stock trading at the age of 25, Jhunjhunwala created asset management firm Rare Enterprises, which invested in companies in the telecom, hospitality and financial services sectors.

Billionaire Rakesh Jhunjhunwala, known as ‘India’s Warren Buffett,’ dies at 62

He had an estimated net worth of $5.8 billion at the time of his death, according to Forbes, which called Jhunjhunwala an "investor with a Midas touch". His latest venture, a low-cost airline called Akasa Air, began operations in India last week.

image credit https://www.moneycontrol.com/

Billionaire Rakesh Jhunjhunwala, known as ‘India’s Warren Buffett,’ dies at 62

"We are deeply saddened by the untimely demise of Rakesh Jhunjhunwala this morning," Akasa Air said in a statement on Sunday.

image credit https://www.moneycontrol.com/

Billionaire Rakesh Jhunjhunwala, known as ‘India’s Warren Buffett,’ dies at 62

"We are deeply saddened by the untimely demise of Rakesh Jhunjhunwala this morning," Akasa Air said in a statement on Sunday.

image credit https://www.moneycontrol.com/