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Akasa Air founder Rakesh Jhunjhunwala dies
Jhunjhunwala, 62, had been on dialysis as both his kidneys had failed. He was discharged from the hospital just a few weeks ago after treatment for his kidney problem. An astute investor, he was often described as 'India’s Warren Buffet'. He was last seen in public at the launch of Akasa Air, which he founded. The first flight of the new low-cost carrier was virtually inaugurated on the Mumbai-Ahmedabad route by Union Minister for Civil Aviation Jyotiraditya Scindia, last Sunday.

MUMBAI, Aug 14: Billionaire Rakesh Jhunjhunwala died in the morning on Sunday. Ailing from multiple health problems for long, Jhunjhunwala, 62, was brought to the Breach Candy Hospital in Mumbai iat 6:45 am and was declared dead. He died of cardiac arrest.

Jhunjhunwala was discharged from the hospital a few weeks ago after treatment for a kidney problem. He had been on dialysis as both his kidneys had failed.

He was last seen in public at the launch of Akasa Air, which he founded.

Often called as 'India’s Warren Buffet', the veteran iinvestor had launched the new airline, Akasa Air, last Sunday. The first flight of the new low-cost carrier was virtually inaugurated on the Mumbai-Ahmedabad route by Union Minister for Civil Aviation Jyotiraditya Scindia along with MoS General (Retd) Vijay Kumar Singh.

A stock trader and chartered accountant, he was associated with several organisations. The ‘big bull’ of Dalal Street had begun with a portfolio of Rs 5,000 in 1985, to become the biggest stock market investor with a portfolio of Rs 11,000 crore. He began dabbling in the stock market while in the college. His investments are mainly in Titan, CRISIL, Sesa Goa, Praj Industries, Aurobindo Pharma and NCC.

“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,” Prime Minister Narendra Modi tweeted.

The 'Big Bull' of Dalal Street is survived by wife Rekha and three children.

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