Legendary broker-investor, founder of recently-launched Akasa Air and one of India’s richest men, Rakesh Jhunjhunwala passed away at the age of 62 on Sunday morning.
The billionaire business magnate was suffering from kidney ailments and was rushed to the Breach Candy Hospital in Mumbai today where he was declared dead.
With a net worth of $5.8 billion (Rs 4,61,85,40,00,000), Jhunjhunwala was one of the biggest movers of the stock market. His investments had a massive influence on the investor and stock trajectories. Recently, the business magnate entered the aviation market with the newly-launched Akasa Air.
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A Chartered Accountant by qualification, Jhunjhunwala is survived by his wife Rekha and three children. Rekha Jhunjhunwala is also a stock market investor like the late billionaire. Together, parts of their names formed the name of the stock brokerage firm run by Rakesh Jhunjhunwala : RaRe Enterprises, which he founded in 1992.
Rakesh Jhunjhunwala is also survived by his three children. His daughter Nishtha Jhunjhunwala was born in 2004. In 2009, he welcomed twin sons Aryaman and Aryaveer Jhunjhunwala. Born in a Marwari family originally from Jhunjhunu in Rajasthan, Rakesh Jhunjhunwala's father Radheshyamji Jhunjhunwala worked in the Income Tax department while his mother Urmila Jhunjhunwala was a homemaker. He has an elder brother Rajesh Jhunjhunwala who is also a CA, and two sisters, Sudha Gupta and Neena Sanganeria.
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