Rakesh Jhunjhunwala Demise: Tributes Pour In From PM Modi, Sitharaman, Adani, Others

Following the tragic death of Rakesh Jhunjhunwala, tributes to the ace investor have begun to pour in, from Prime Minister Narendra Modi to Finance Minister Nirmala Sitharaman to billionaire Gautam Adani, among others. On Sunday, the legendary investor who had the Midas touch in the stock market died. He was 62 years old and had kidney problems.

Prime Minister Narendra Modi in a tweet on Sunday said, “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 has had a very successful career in share trading, with several multi-baggers to his credit. He is now also in the aviation business under the name Akasa Air.

Civil Aviation Minister Jyotiraditya M Scindia tweeted, “Sh Rakesh Jhunjhunwala Ji was not only an astute businessman, but also passionately invested in India’s growth story. He will be remembered for giving India its new airline @AkasaAir after more than a decade. My deepest condolences to his family & loved ones.”

Finance Minister Nirmala Sitharaman in a tweet said, “Shri Rakesh Jhunjhunwala is no more. Investor, bold risk taker, masterly understanding of the stock market, clear in communication- a leader in his own right. Fondly remember several conversations we’ve had. Had strong belief in India’s strength and capabilities. Condolences.”

Jhunjhunwala’s biggest investment till date has been in Titan Company, which is worth over Rs 7,000 crore. Titan is a Tata group subsidiary.

Tata Sons Chairman N Chandrasekaran said, “Rakesh Jhunjhunwala believed in India and the sheer potential of the country. This conviction led him to consistently make bold decisions throughout his life and career. He had tremendous regard for the Tata Group. Mr. Jhunjhunwala’s passing is an irreparable loss and we extend our deep condolences to his family and friends.”

Zerodha founder Nikhil Kamath said “There will never again be someone like you, RIP”.

Anguished to learn about the passing away of Rakesh Jhunjhunwala, Home Minister Amit Shah said, “His vast experience and understanding of the stock market have inspired countless investors. He will always be remembered for his bullish outlook. My deepest condolences to his family. Om Shanti Shanti.”

Adani Group Chairman Gautam Adani said, “Extremely saddened by the untimely passing away of the most legendary investor that India has had. Shri Jhunjhunwala inspired an entire generation to believe in our equity markets with his brilliant views. We will miss him. India will miss him but we will never forget him. RIP.”

JSPL Chairman Naveen Jindal said, “Shocked and saddened to hear of the demise of Shri #RakeshJhunjhunwala. An ace investor and a simple straightforward man, Shri Jhunjhunwala leaves behind a legacy that will continue to inspire many. My deepest condolences to his family, friends and loved ones. Om Shanti.”

According to Forbes, his net worth is $4.6 billion, or approximately Rs 34,000 crore. According to Trendlyne, the value of his holdings as of 2021 was Rs 19,277 crore.

Road Transport & Highways Minister Nitin Gadkari said, “Saddened to hear the news about the demise of ace investor, trader & business magnate Mr. Rakesh Jhunjhunwala. He has been the part of India’s growth story and an inspiration to budding investors. My heartfelt condolences to his family. Om Shanti.”