Business tycoon Rakesh Jhunjhunwala dies at 62
Jhunjhunwala, dubbed India's Warren Buffet, had recently entered the airlines industry with Akasa Air
Legendary investor Rakesh Jhunjhunwala passed away on Sunday at the age of 62. He was struggling with multiple health problems, and reports claimed he was brought to the hospital at 06:45am and declared dead.
Jhunjhunwala, dubbed India's Warren Buffet, had recently entered the airlines industry with Akasa Air.
Akasa had launched its commerical ops on August 7, and Jhunjhunwala had announced that he was undertaking this endeavour on the optimistic prediction that more people will start travelling by air again.
Jhunjhunwala, in an interview he said that he had developed an interest in stock markets from a very young age.
He finished his chartered accountancy and later dipped his toes in the stock markets. Multiple reports claimed he started with just Rs 5,000, which he grew to over Rs 11,000 crore.
Most recently, he had expressed intense skepticism of Indian new-age tech startup valuations, stating that the startup party will burst soon.
He believes that he can make more money investing in shares of metal producers and banks than on new-age technology companies that are swarming the Indian primary market currently.
