The big bull of the stock market, Rakesh Jhunjhunwala, passed away at 62. He was brought to Breach Candy Hospital in Mumbai. Jhunjhunwala was discharged from the hospital 2-3 weeks ago. Breach Candy Hospital has confirmed the death of veteran businessman Jhunjhunwala. Today at 6.45 am, the hospital confirmed the death of Rakesh Jhunjhunwala.
Rakesh Jhunjhunwala is also known as Warren Buffett of India. After making money from the stock market, Big Bull also entered the airline sector. He had made a huge investment in the new airline company Akasa Air, and on 7 August, the company started operations. Jhunjhunwala, who has invested in the stock market, has assets worth thousands of crores today. It is funny that the journey of a person with so much wealth started with only 5 thousand rupees.
Akasa’s first commercial flight took off from Mumbai to Ahmedabad. Aviation Minister Jyotiraditya Scindia was seen at the inauguration ceremony of the first flight of Akasa Air. He flagged off Akasa’s first commercial flight. Union Minister of State VK Singh was also present with him. Akasa Air started its service on 13 August on many more routes.
Rakesh Jhunjhunwala and his wife Rekha have the largest stake in Akasa Air Share. Together, the total stake in this airline company is 45.97 percent. Apart from this, Vinay Dubey, Sanjay Dubey, Neeraj Dubey, Madhav Bhatkuli, PAR Capital Ventures, and Karthik Verma are also promoters of Akasa Air. After Rakesh Jhunjhunwala, Vinay Dubey’s stake in this is 16.13 percent. Akasa Air started the Bengaluru-Kochi service on 13 August. At the same time, it will start its service for Bangalore-Mumbai on 19 August and Chennai-Mumbai on 15 September.
The main source of income for Rakesh Jhunjhunwala was the stock market. This success story of Jhunjhunwala started with just five thousand rupees. Today his net worth is around 40 thousand crores. Due to this success, Jhunjhunwala is called the Big Bull of the Indian Stock Market and Warren Buffett of India. Jhunjhunwala manages to earn even when ordinary investors lose money in the stock market.