Rakesh Jhunjhunwala, a renowned Indian billionaire and stock trader, has died at age 62, according to the media.
According to the Mumbai-based Breach Candy Hospital, Jhunjhunwala had been declining for a few days before passing away today.
For his distinct investment approach, Jhunjhunwala got the nickname "Big Bull of Dalal Street."
Rakesh Jhunjhunwala's business activities include Akasa Air, the newest low-cost carrier in India. This month, the airline launched its commercial operations with an inaugural trip from Mumbai, the world's financial centre, to Ahmedabad.
In order to launch Akasa, Jhunjhunwala collaborated with former CEOs of Jet Airways, Dube, and IndiGo, Aditya Ghosh.
Vinay Dubey, a former Jet Airways CEO, and Rakesh Jhunjhunwala launched Akasa Air, an airline based in India. As of August 9th, 2022, the airline will fly to 3 cities with a total of 70 more aircraft on order.
Jhunjhunwala, who was born on July 5, 1960, was raised in Bombay by Rajasthani parents while his father served as an income tax commissioner. After completing his studies at Sydenham College, he applied to the Institute of Chartered Accountants of India.
He was the 36th richest man in India with an estimated net worth of $5.5 billion (as of July 2022).
Jhunjhunwala is a prominent investor in addition to serving as the chairman of Aptech Limited and Hungama Digital Media Entertainment Pvt. Ltd. He is also a director of Prime Focus Limited, Geojit Financial Services, Bilcare Limited,
Praj Industries Limited, Provogue India Limited,Concord Biotech Limited, Innovasynth Technologies Limited, Mid Day Multimedia Limited, Nagarjuna Construction Company Limited, Viceroy Hotels Limited, and Tops Security Limited.
He was well recognised for his stock market forecasts and upbeat outlooks, earning the nicknames "Big Bull of India" and "King of Bull Market."