Billionaire investor Rakesh Jhunjhunwala passes away at age 62

In a major loss to the business world, billionaire business magnate and veteran investor Rakesh Jhunjhunwala breathed his last on Sunday morning. Jhunjhunwala, famously referred to as the "Big Bull of Dalal street" and "King of Bull Market" died at the age of 62.

As per reports, Jhunjhunwala had been on a wheelchair for a long time and suffered from multiple health issues. He was brought to Mumbai 's Breach Candy hospital at 6:45 am, where the doctors declared him dead.

Born on July 5, 1960, Jhunjhunwala grew up in a Rajasthani family, in Mumbai, where his father worked as an Income Tax Commissioner. He graduated from Sydenham College and thereafter enrolled at the  Chartered Accountants' Institute of India.

Jhunjhunwala had an estimated net worth of $5.5 Billion (as of July 2022), which made him the 36th wealthist man in India.

In addition to being an active stock market investor, Jhunjhunwala was the chairman of Aptech Limited and Hungama Digital Media Entertainment Pvt. Ltd. He was also on the board of directors of Prime Focus Ltd, Geojit Financial Services, Bilcare Ltd, Praj Industries Ltd, Provogue India Ltd, Concord Biotech Ltd, Innovasynth Technologies Ltd, Mid Day Multimedia Ltd, Nagarjuna Construction Company Ltd, Viceroy Hotels Ltd, and Tops Security Ltd.

Rakesh Jhunjhunwala recently co-founded Indian airline Akasa Air which took its first flight from Mumbai to Ahmedabad on August 7. Akasa Air currently has 2 aircraft, with an additional order for 70 more aircraft, and flies to 3 cities as of August 9, 2022.