(MENAFN) Rakesh Jhunjhunwala, a stock investor known as India's Warren Buffett with a USD6 billion estimated net worth, passed away on Sunday morning at the age of 62, according to the media.
Jhunjhunwala, a chartered accountant from the desert state of Rajasthan, first experimented with stocks while in college and then managed a stock trading company called RARE Enterprises. The reason of death wasn't known right away.
Jhunjhunwala, the ultra-low-cost Akasa Air's promoter, made an appearance days ago at the airline's public launch. His wife and three kids are left behind.
Small investors found the stock market easier to grasp thanks to Jhunjhunwala's superb communication abilities, according to businesspeople and bankers in Mumbai, India's financial hub, who had worked with him for more than 30 years. He became a well-known TV personality thanks to his business and economic views.
Leaders in industry and politics expressed their grief at his passing on social media. On the other hand, Narendra Modi, the prime minister, tweeted, "Rakesh Jhunjhunwala was indomitable."
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