Billionaire investor Rakesh Jhunjhunwala who has inspired many aspiring stock market enthusiasts to follow their dreams untimely passed away on 14th August 2022. He was only 62 years of age. Often called India’s Big Bull, Rakesh Jhunjhunwala had built an empire from ground zero. He was always bullish about the Indian stock market and left many trading lessons for the younger generation to follow.
Did you know Rakesh Jhunjhunwala came to Mumbai with just 5 lakh rupees in total and converted it into more than $5 billion with his expertise in the stock market and his investing acumen that is believed to be surpassed by none in the Indian share market? People have often referred to him as India’s Warren Buffett.
Jhunjhunwala was a vocal supporter of the reforms initiated by the Indian government. He said that India is a land of opportunities, and the Indian investing market will continue to grow despite the global slowdown. The Big Bull has left a legacy that is hard to match. People were left shocked and saddened by his untimely demise. Indian Prime Minister Narendra Modi took to Twitter to express grief and extend condolences toward Jhunjhunwala’s family.
“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”, wrote PM India in his Twitter post.
Rakesh Jhunjhunwala was suffering from various kidney issues and appeared weakened in his recent appearances in front of the media. It was proclaimed that he had already breathed for the last time before being brought to the Breach Candy Hospital at 6:45 am in Mumbai.
Jhunjhuwala was a legendary investor who left an unparalleled mark on the Indian stock market. His optimistic nature will be missed by the investors who followed him with all their hearts. He was a special person who taught Indians that making is an art, not labour.
What made Rakesh Jhunjhunwala India’s Big Bull?
Rakesh Jhunjhunwala, the man who rose to the top of the Indian stock market, started investing in 1986 with just Rs 5,000. His interest in the market grew by watching his father discussing things about the market with his friends. Even though, Jhunjhunwala’s father advised him about investing in the initial phase, he never gave him any money and forbade him from asking for money from his friends.
Jhunjhunwala created an empire on his own by having an investing acumen that allowed him to pick stocks that rose astronomically in future. His biggest investment is in Tata’s Titan, which is worth more than Rs 7,000 crore at the moment.
G. Chokkalingam, Founder & Head of Research, Equinomics Research & Advisory Private Ltd has said that Rakesh Jhunjhunwala’s ability to spot deep value stocks at an early stage brought him great success and inspired the equity investors like him to learn the skill set.
Jhunjhunwala recently started a low-cost airline Akasa which began operating from 7th August 2022. His new venture is an exciting prospect that has generated many speculations. No matter what Jhunjhunwala did, he always backed his decisions and stood by his convictions. He was a simple man who made the complex share market look simple. A legend who will truly be never forgotten.