Rakesh Jhunjhunwala’s death: Condolences pour in over the death of ‘India’s Warren Buffett’

India

oi-Prakash KL

New
Delhi,
Aug
14:
Prime
Minister
Narendra
Modi,
many
Union
ministers
and
leaders
from
various
parties
have
mourned
the
death
of
veteran
stock
market
investor
Rakesh
Jhunjhunwala
while
lauding
his
contribution
to
the
financial
world.

Ace
stock
market
investor
Jhunjhunwala,
often
referred
to
as
India’s
Warren
Buffett,
died
in
Mumbai
on
Sunday
morning.
He
was
62.
Jhunjhunwala
passed
away
early
this
morning
due
to
a
cardiac
arrest,
a
source
in
his
newly
set
up
airline
said.

“Rakesh
Jhunjhunwala
was
indomitable.
Full
of
life,
witty
and
insightful,
he
leaves
behind
an
indelible
contribution
to
the
financial
world,”
Modi
said
in
a
tweet.
“He
(Jhunjhunwala)
was
also
very
passionate
about
India’s
progress.
His
passing
away
is
saddening.
My
condolences
to
his
family
and
admirers.
Om
Shanti,”
the
Prime
Minister
said.

Lok
Sabha
Speaker
Om
Birla
said
he
was
pained
to
know
that
business
magnate
Jhunjhunwala,
who
promoted
several
premier
enterprises,
is
no
more.
“In
his
demise,
we
have
lost
a
brilliant
business
mind
and
farsighted
investor
who
possessed
a
unique
vision
for
growth.
May
his
soul
attain
the
feet
of
Mahaprabhu,”
Birla
said.

A
host
of
ministers
also
condoled
Jhunjhunwala’s
demise
and
hailed
his
contribution
to
the
financial
world.

Home
Minister
Amit
Shah
expressed
anguish
at
the
passing
away
of
Jhunjhunwala.
“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,”
Shah
tweeted.

BJP
chief
JP
Nadda
said
he
was
saddened
by
the
terrible
news
of
the
passing
away
of
the
veteran
investor.
“May
the
departed
soul
rest
in
eternal
peace
and
may
Prabhu
Ram
give
strength
to
his
family
members
and
loved
ones.
Om
Shanti,”
he
tweeted.

Defence
Minister
Rajnath
Singh
said
he
was
shocked
by
the
sudden
demise
of
Jhunjhunwala.
“He
will
be
remembered
for
his
contributions
in
business
and
industry.
He
was
at
the
forefront
of
creating
a
culture
of
investing
in
Indian
stock
markets.
Condolences
to
his
family
and
many
admirers,”
Singh
said
in
a
tweet.

Starting
off
his
journey
in
stock
markets
while
still
in
college
with
a
capital
of
just
Rs
5,000,
Jhunjhunwala
recently
teamed
up
with
ex-Jet
Airways
CEO
Vinay
Dube
and
former
IndiGo
head
Aditya
Ghosh
to
launch
Akasa
Air,
India’s
newest
budget
carrier.

Condoling
Jhunjhunwala’s
demise,
Aviation
Minister
Jyotiraditya
Scindia
said
he
will
be
remembered
for
giving
India
its
new
airline
Akasa
Air
after
more
than
a
decade.
Scindia
had
on
August
7
inaugurated
Akasa
Air’s
first
flight,
which
operated
from
Mumbai
to
Ahmedabad.
Scindia
said:
“Shri
Rakesh
Jhunjhunwala
Ji
was
not
only
an
astute
businessman,
but
also
passionately
invested
in
India’s
growth
story.”

Finance
Minister
Nirmala
Sitharaman
condoled
his
demise
and
said
he
was
a
“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,”
she
said.

Women
and
Child
Development
Minister
Smriti
Irani
said
she
had
lost
her
“brother”
with
the
passing
away
if
Jhunjhunwala.
“They
call
him
a
billionaire
investor,
the
badshah
of
BSE…but
what
he
really
was…is
and
always
will
be…is
a
dreamer…He
was
tenacious,
he
was
tender,
he
was
graceful,
he
was
as
my
gentle
giant.
Bhaiyya
always
told
me
‘apan
apne
dam
par
jiyenge
‘
..
and
he
lived
on
his
own
terms…,”
she
said.

Minister
for
Road
Transport
and
Highways
Nitin
Gadkari
expressed
sadness
over
the
passing
away
of
Jhujhunwala
and
said
he
had
been
the
part
of
India’s
growth
story
and
an
inspiration
to
budding
investors.
Minister
of
Petroleum
and
Natural
Gas
and
Minister
of
Housing
and
Urban
Affairs
Hardeep
Singh
Puri
said
the
demise
of
Jhunjhunwala
is
deeply
saddening.

“A
self-made
trader
&
ace
investor,
he
had
established
several
businesses
&
startups
including
India’s
newest
airline
Akasa
Air.
Heartfelt
condolences
to
his
family
&
friends,”
he
said.
In
a
tweet,
Shiv
Sena
leader
Aaditya
Thackeray
said,
“Bidding
adieu
to
the
Big
Bull
of
Dalal
Street,
Rakesh
Jhunjhunwala
ji.My
heartfelt
condolences
are
with
his
family
and
loved
ones.
Om
Shanti.”

Another
Shiv
Sena
leader
Priyanka
Chaturvedi
also
expressed
sadness
at
Jhunjhunwala’s
demise,
and
said
he
was
not
just
bullish
about
the
stock
market
but
also
about
the
nation.
“My
heartfelt
condolences
to
his
family,
friends
and
colleagues,”
he
said.
Condoling
the
investor’s
death,
Congress
leader
Jaiveer
Shergill
said
his
death
is
a
big
loss
to
the
financial
world
and
his
ability
to
sense
the
pulse
of
the
market
will
always
remain
unmatched.

Telugu
Desam
Party
Chief
N
Chandrababu
Naidu
said
he
was
deeply
saddened
by
Jhunjhunwala’s
passing
away.
“A
veteran
investor
&
industrialist,
his
contribution
to
the
Indian
Capital
Market
was
immense.
The
Big
Bull
of
Dalal
Street
leaves
behind
an
inspiring
legacy.
Condolences
to
his
family
and
friends,”
he
said.

Maharashtra
Chief
Minister
Eknath
Shinde
expressed
sadness
at
the
passing
of
the
veteran
investor.
“India
has
lost
a
gem,
who
made
a
mark
not
just
on
the
stock
market
but
on
the
minds
of
almost
every
investor
in
India,”
he
said.
Maharashtra
Deputy
Chief
Minister
Devendra
Fadnavis
said
Jhunjhunwala’s
contribution
to
Indian
industry
and
economic
development
will
be
remembered
forever.