Rakesh Jhunjhunwala Dies

On Sunday morning, seasoned investor Rakesh Jhunjhunwala passed suddenly. The investor known as “India’s Warren Buffet” was described as having “the Midas touch.”

He was one of the wealthiest individuals in the nation and a professional accountant in addition to being a dealer. A director of Viceroy Hotels, Concord Biotech, Provogue India, and Geojit Financial Services, Jhunjhunwala was also chairman of Hungama Media and Aptech.

Jhunjhunwala started playing around with the stock market when he was a college student. He joined the Institute of Chartered Accountants of India, but after earning his degree, he made the snap decision to plunge into Dalal Street. In 1985, Jhunjhunwala put 5,000 rupees into the venture. By September 2018, the amount has increased to Rs 11,000 crore.

Jhunjhunwala grew intrigued by the stock market when he overheard his father talking about it with his colleagues.

Jhunjhunwala cited his father as telling him to read newspapers frequently because the news was what affected the stock market.

According to sources, even though his father allowed him to participate in the stock market, he prevented him from asking for financial support or borrowing money from friends.


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