Billionaire investor Rakesh Jhunjhunwala dies at 62

Billionaire investor Rakesh Jhunjhunwala, famously known as India’s Warren Buffett, passed away on Sunday morning.

Jhunjhunwala (62) had been in a wheelchair for a long time due to multiple health issues. He was admitted to the hospital a few weeks ago and was later discharged. He suffered from massive cardiac arrest Sunday morning at his Mumbai residence, according to reports.

Prime Minister Narendra Modi took to Twitter to express his condolences. He wrote, "Rakesh Jhunjhunwala was indomitable. 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. Om Shanti."

Jhunjhunwala co-founded Indian airline Akasa Air had recently launched services in the Bengaluru-Kochi-Bengaluru sector.

According to Forbes, Rakesh Jhunjhunwala was the 36th wealthiest man in India and had an estimated net worth of $5.5 billion (as of July 2022).