Rakesh Jhunjhunwala, the ace Indian investor, died at 62. The Big Bull or Warren Buffet of India was taken to Breach Candy in Mumbai and a source at Akasa Air told PTI that the trader had died due to a cardiac arrest.
Jhunjhunwala battled several conditions and was diagnosed with diabetes. He was confined to a wheelchair for a while but had an indomitable spirit, as evidenced by his dance, while in a wheelchair.
The trader was also battling kidney disease and ischemic heart disease, as per Moneycontrol. He was undergoing dialysis on a daily basis since both his kidneys had failed, News18 reported. At one time, Jhunjhunwala was confined to bed for 18 months and suffered a bout of COVID. However, he lost 18 kgs of weight and also became non-diabetic.
“I am not even thinking of retiring from trading or investing”, he had said at the time, The Economic Times reported.
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News of Jhunjhunwala’s death brought tributes from all quarters, with many remembering the investor fondly.
His friend Suhel Seth told ANI, “India has not only lost a great stockbroker, but it has also lost a man who believed in India & who recognized the potential of Indian companies. He was a great human being& a great philanthropist & supported many causes”.
Meanwhile, the finance minister of India, Nirmala Sitharaman added, “Shri Rakesh Jhunjhunwala is no more. Investor, bold risk taker, masterly understanding of the stock market, clear in communication- a leader in his own right. Fondly remember several conversations we’ve had. Had strong belief in India’s strength and capabilities. Condolences”.
Jhunjhunwala was astute about the stock market and often advised other investors on managing expectations, investing cautiously, and ensuring that investments and trades stayed far apart from each other.
The bold risk-taker’s last public appearance was during the Akasa Air launch.