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Death of Rakesh Jhunjhunwala, the "Indian Warren Buffet" - Finance

Death of Rakesh Jhunjhunwala, the “Indian Warren Buffet” – Finance

Indian stock market billionaire Rakesh Jhunjhunwala, dubbed “India’s Warren Buffet” by local media, has died, his office said on Sunday.

Calling the 62-year-old “indomitable”, Prime Minister Narendra Modi echoed tributes from other senior officials, tweeting that the tycoon’s death was “sadden”.

The “Big Bull of Dalal Street” – the Wall Street of Bombay – had a fortune estimated at 3.5 billion dollars and held significant stakes in about thirty Indian star stocks.

He had recently invested $35 million for an estimated 40% stake in Akasa Air, which made its first flight in the crowded Indian aviation market on Sunday.

“Full of life, witty and insightful, he leaves behind an indelible contribution to the world of finance,” Mr Modi said.

Jhunjhunwala’s office confirmed to AFP that he died on Sunday morning, without giving further details.

Calling the 62-year-old ‘indomitable’, Prime Minister Narendra Modi echoed tributes from other senior officials, tweeting that the tycoon’s death was ‘sadden’. Dalal Street” – the Wall Street of Bombay – had an estimated fortune of 3.5 billion dollars and held significant stakes in about 30 Indian star stocks. He had recently invested 35 million dollars for an estimated 40% stake in Akasa Air, which made its first flight into India’s highly congested aviation market on Sunday. “Full of life, wit and insight, he leaves behind an indelible contribution to the world of finance,” said Mr. Modi.Jhunjhunwala’s office confirmed to AFP that he died on Sunday morning, without giving further details.

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