Billionaire investor Rakesh Jhunjhunwala passed away at 62

|HT|

Billionaire investor Rakesh Jhunjhunwala has died at 62 in Mumbai. Jhunjhunwala was one of the co-founders of Akasa Air, which launched its operations very recently.

The veteran investor - often called the ‘Warren Buffet of the Indian market’ - was reported to be unwell for some time. His net worth was estimated to be around $5 billion.

“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," tweeted Prime Minister Narendra Modi, paying rich tributes to the businessman.

His passing away is saddening. My condolences to his family and admirers. Om Shanti," PM Modi added.

Jhunjhunwala was said to have started investing in stock right when he was in college.

(Except for the headline and the pictorial description, this story has not been edited by THE DEN staff and is published from a syndicated feed.)