Billionaire investor Rakesh Jhunjhunwala died from complications linked to multiple ailments on Sunday. He was 62.
The stock market veteran was suffering from diabetes and kidney-related ailments, people close to the family confirmed.
Jhunjhunwala, a chartered accountant, made a fortune by stock picking in Indian equities and was keenly followed for his investing acumen and bets.
Jhunjhunwala owns stock trading firm Rare Enterprises Pvt., named after him and his wife. His latest big bet was Akasa Air, India’s youngest airline that is 45.97% owned by his family.
He is survived by wife Rekha Jhunjhunwala and three children—daughter Nishtha, and sons Aryavir and Aryaman.
Condoling Jhunjhunwala’s death, Prime Minister Narendra Modi said “…he leaves behind an indelible contribution to the financial world”.
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