'Role model for investors': Karnataka CM's rich tribute to Rakesh Jhunjhunwala

Updated on Aug 14, 2022 11:51 AM IST

The ace investor and billionaire Rakesh Jhunjhunwala has died on Sunday morning. He was 62 year old and reportedly battling with health issues from past few days. Karnataka CM Basavaraj Bommai and Health Minister K Sudhakar have paid their tributes to the businessman.

File photo.(REUTERS)
File photo.(REUTERS)
By | Edited by Swati Bhasin

Veteran investor and billionaire Rakesh Jhunjhunwala died on Sunday morning at 62, prompting an outburst of condolences across the country. Karnataka chief minister Basavaraj S Bommai remembered the business magnate as "a role model for young investors".

"Shocked & saddened by the untimely demise of ace stock trader & investor Rakesh Jhunjhunwala this morning. A role model for many young investors, he was an institution by himself. May his soul rest in peace & may God grant his family & friends, strength to bear this huge loss," the chief minister wrote on Twitter.

Karnataka health minister K Sudhakar also paid tributes to the ace investor. The minister defined Jhunjhunwala as the Warren Buffet of India and he even paid condolences to his family. “Saddened to learn about the passing away of veteran investor Shri Rakesh Jhunjhunwala Ji. Known as the Warren Buffett of India he had mastered the art of investing and inspired many through his optimism. My heartfelt condolences to his family. Om Shanti.(Sic)" he tweeted.

Earlier, Prime Minister Narendra Modi had expressed grief on the passing away of Jhunjhunwala and remembered him as a "witty, insightful and a full of life person". “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.(Sic)” wrote PM Modi

The 62-year-old businessman breathed last in Mumbai on Sunday morning. He was reported to be battling health issues. Jhujhunwala was one of the investors in India’s newest airline Akasa Air. The initial flights of the airline recently took off from Bengaluru and Mumbai.

Rakesh Jhunjhunwala is survived by his wife and three children. The net worth of the businessman is estimated to be $5.8 billion. He was last spotted at the launch event of Akasa Air in Mumbai where Jhunjhunwala was seen in a wheelchair.

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