Rakesh Jhunjhunwala aka“Big Bull” was a fierce backer of India’s growth story being the most influential market voice in Asia’s third-biggest economy.
Mumbai: Rakesh Jhunjhunwala who was among the most influential market voices in Asia’s third-biggest economy, with an intense following among the nation’s growing horde of retail investors passed away on Sunday at the age of 62 due to a cardiac attack.
“The “indomitable” investor made “an indelible contribution to the financial world”, tweeted PM Narendra Modi.
The self-made trader also known as India’s Warren Buffett has invested in various established businesses and start-ups and served as a board member of several Indian companies. Recently, the business magnate entered the aviation market with the newly-launched Akasa Air. The death of ‘Big bull’ with nearly $4+ billion net worth of stocks has sparked the question of ‘who will become the owner of his worth?’
His investment success has earned him a cult-like following, with news of his trades occasionally causing stocks to breach their daily limits.
Big Bull’s key holdings:
The late investor leaves behind his wife Rekha Jhunjhunwla and three children. Rekha is also a stock market investor like the late billionaire and together they had formed the ‘RaRe Enterprises’ in 1992.
The question of ‘who will hold his worth and assets’ arises because Rakesh Jhunjhunwala was subjected by SEBI for insiders trading in January 2020 and he had paid a total of Rs 35 crore to resolve the matter.
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