New Delhi, 14 August 2022: Rakesh Jhunjhunwala, a multibillionaire businessman, stock trader, and investor, died on Sunday morning at the age of 62.
According to sources, he was brought dead to the Mumbai’s Breach Candy Hospital at 6:45 in the morning.
“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” said Prime Minister Narendra Modi expressing his grief.
While Piyush Goyal, Minister of Commerce & Industry, a close friend of Jhunjhunwala also paid his condolences, “This is very sad news. I saw Rakesh 30 years ago as his father had good relations with our family. Rakesh Jhunjhunwala is a patriot and he had a yearning to bring economic development to the country. He was determined to do everything to make India self-reliant.”
The Union Home Minister, Amit Shah also expressed his condolences, “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.”
“Deeply saddened by the sudden demise of prominent investor and industrialist Rakesh Jhunjhunwala. He has left a legacy in the arena of stock broking and will remain an inspiration for generations of young investors and entrepreneurs,” posted Himanta Biswa Sharma, the Chief Minister of Assam.
Harsh Madhusudan, CFA Investor also stated, “You may call me a fool, you may call me anything, I may not live to see it but I can tell you one thing – India will overtake China in the next 25 years” Rakesh Jhunjhunwala, Legendary Big Bull of India, said this last year. And India will overtake both China, the USA. Om Shanti
Even, the Chairman of Adani Group, Gautam Adani expressed his condolences on the death of Jhunjhunwala, “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.”
Several other ministers and stakeholders of the business sector expressed their anguish and grief at the loss of the great personality.
Rakesh Jhunjhunwala was an impeccable investor, businessman and remarkable philanthropist. Jhunjhunwala used to donate 25% of his income to charitable causes. Twenty-five percent of his wealth was donated to charity in 2020. He also collaborated with several hospitals and organsations in the fields of education, medicine and so on contributing to the welfare of the people.
