Rakesh Jhunjhunwala, a 62-year-old stockbroker and multibillionaire investor, passed suddenly in Mumbai early on Sunday.
Narendra Modi, the prime minister, expressed his condolences. He left behind a lasting legacy in the financial world and was full of life, funny, and smart."
Investor, fearless risk-taker, expert stock market analyst, effective communicator, and self-described leader,
According to Forbes, Jhunjhunwala, referred to as "India's Warren Buffett," had an estimated net worth of $5.8 billion.
His optimism, which he consistently displayed over the long-term prospects of the Indian economy and markets, encouraged millions of ordinary investors.
Jhunjhunwala was a real investor, according to market participants, keeping numerous of his assets for more than ten years.
Early in the 1980s, he started making stock market investments. His asset management company, RARE Enterprises, was in charge of managing his portfolio.
According to Forbes magazine, he began investing in the stock market with just Rs 5,000 in the middle of the 1980s and eventually amassed $5.8 billion (about Rs 46,000 crore).
He made a tremendous contribution to the markets because he was optimistic, took calculated risks, and motivated both retail and HNI investors.