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Mumbai: Veteran investor Rakesh Jhunjhunwala passed away this morning in Mumbai after suffering from diabetes and kidney ailment. He was rushed to Breach Candy Hospital at 6:45 am this morning where he was declared dead. Known as Big Bull of Dalal Street, his net worth was said to be around $5.5 Billion.
The Prime Minister Narendra Modi condoles the demise of the businessman. He tweeted, “Rakesh Jhunjhunwala was indomitable. Full of life, witty and insightful, he leaves behind an indelible contribution to the financial world. He was also very passionate about India’s progress. His passing away is saddening. My condolences to his family and admirers. Om Shanti.”
Rakesh Jhunjhunwala was indomitable. Full of life, witty and insightful, he leaves behind an indelible contribution to the financial world. He was also very passionate about India’s progress. His passing away is saddening. My condolences to his family and admirers. Om Shanti. pic.twitter.com/DR2uIiiUb7
— Narendra Modi (@narendramodi) August 14, 2022
He also added that Jhunjhunwala was full of life and had an indomitable spirit.
Rakesh Jhunjhunwala was indomitable. Full of life, witty and insightful, he leaves behind an indelible contribution to the financial world. He was also very passionate about India’s progress. His passing away is saddening. My condolences to his family and admirers. Om Shanti. pic.twitter.com/DR2uIiiUb7
— Narendra Modi (@narendramodi) August 14, 2022
The business world lost a gem today as Rakesh Jhunjhunwala breathed his last this morning. The dignitaries of the business world mourned the demise of India’s Warren Buffett.
Chairman of the Adani Group, Gautam Adani, shared his grief:
Extremely saddened by the untimely passing away of the most legendary investor that India has had. Shri Jhunjhunwala inspired an entire generation to believe in our equity markets with his brilliant views. We will miss him. India will miss him but we will never forget him. RIP🙏 pic.twitter.com/XrOBM3t0nG
— Gautam Adani (@gautam_adani) August 14, 2022
Uday Kotak, who was a contemporary of veteran investor in school and college, said he will be missed.
Rakesh Jhunjhunwala: my school and college mate. One year my junior. Believed stock India was undervalued. He is right. Amazingly sharp in understanding financial markets. We spoke regularly, more so during Covid. Will miss you Rakesh!
— Uday Kotak (@udaykotak) August 14, 2022
Home Minister Amit Shah expressed grief on the demise of Rakesh Jhunjhunwala and said that he will be remembered for his knowledge of stock markets.
Anguished to learn about the passing away of Rakesh Jhunjhunwala Ji. His vast experience and understanding of the stock market have inspired countless investors. He will always be remembered for his bullish outlook. My deepest condolences to his family. Om Shanti Shanti.
— Amit Shah (@AmitShah) August 14, 2022
The Defence Miniser Rajnath Singh said Rakesh Jhunjhunwala will be remembered for his contribution to business and industry.
Shocked by the sudden demise of seasoned Investor, Shri Rakesh Jhunjhunwala. He will be remembered for his contributions in business and industry. He was at the forefront of creating a culture of investing in Indian stock markets. Condolences to his family and many admirers.
— Rajnath Singh (@rajnathsingh) August 14, 2022
Union Minister of Civial Aviation and Steel, Jyotiraditya Scindia tweeted as follows:
Sh Rakesh Jhunjhunwala Ji was not only an astute businessman, but also passionately invested in India’s growth story. He will be remembered for giving India its new airline @AkasaAir after more than a decade. My deepest condolences to his family & loved ones.
— Jyotiraditya M. Scindia (@JM_Scindia) August 14, 2022
Not just the ministers, journalists, politicians too shared their condolences. Ace cricketer Virendra Sehwag called his demise as “an end of era”.
End of an Era as the Big Bull of the Dalal Street , #RakeshJhunjhunwala passes away.
Condolences to his family and loved ones. Om Shanti 🙏 pic.twitter.com/3OrVSzU2Ty— Virender Sehwag (@virendersehwag) August 14, 2022
Apart from PM Modi, Gautam Adani, Uday Kotak, Virendra Sehwag, condolences were also shared by businessman Suhel Seth, who said Jhunjhunwala had his last supper at his home in Gurgaon.
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