Insight Bureau: Ace Investor, the Big Bull of Dalal Street, Founder of Akasa Air, Rakesh Jhunjhunwala passes away at the age of 62. He was suffering from some ailments. He was also referred ‘Father of Indian Stock Market’.
He had an estimated net worth of $5.5 Billion, making him the 36th richest man in India.
A Chartered Accountant by profession, Rakesh Jhunjhunwala managed his own portfolio as a partner in his asset management firm, Rare Enterprises.
Rakesh Jhunjhunwala was the chairman of Aptech Limited and Hungama Digital Media Entertainment Pvt. Ltd. and sat on the board of directors of Prime Focus Limited, Geojit Financial Services, Bilcare Limited, Praj Industries Limited, Provogue India Limited, Concord Biotech Limited, Innovasynth Technologies (I) Limited, Mid Day Multimedia Limited, Nagarjuna Construction Company Limited, Viceroy Hotels Limited, and Tops Security Limited.
His biggest investment was in Titan Company which is worth ₹7,294.8 crore.
Rakesh Jhunjhunwala recently founded Akasa Air , an Indian airline along with former Jet Airways CEO Vinay Dubey.