PM Modi condoles passing away of Rakesh Jhunjhunwala

New Delhi: Prime Minister Narendra Modi has condoled the passing away of veteran investor and billionnire businessman Rakesh Jhunjhunwala.

"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," PM wrote on twitter.

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. pic.twitter.com/DR2uIiiUb7

— Narendra Modi (@narendramodi) August 14, 2022

Piyush Goyal, Minister of Commerce & Industry, Consumer Affairs & Food & Public Distribution and Textiles, also offered his condolences on Jhunjhunwala's demise.

Deeply anguished at the demise of veteran investor Rakesh Jhunjhunwala. He was an inspiration for wealth creation for crores.



My heartfelt condolences to his family, friends and admirers. Om Shanti.

— Piyush Goyal (@PiyushGoyal) August 14, 2022

Jhunjhunwala passed away Sunday morning at the age of 62 in Mumbai’s Breach Candy hospital at 6.30 am.

He was an Indian billionaire business magnate, stock trader and investor.

Jhunjhunwala grew up in a Rajasthani family, in Bombay, where his father worked as a Commissioner of Income Tax. His surname indicates that his ancestors belonged to Jhunjhunu in Rajasthan.

He graduated from Sydenham College and thereafter enrolled at the Institute of Chartered Accountants of India.

He had an estimated net worth of $5.5 Billion (as of July 2022) making him the 36th richest man in India.

Jhunjhunwala recently entered into aviation sector with the launch of Akasa Air in association with former Jet Airways CEO Vinay Dubey.