Top broker-investor and founder of the recently-launched Akasa Air Rakesh Jhunjhunwala, passed away here on Sunday morning, a close friend said.
A Chartered Accountant by qualification and training, he was 62 and is survived by his wife Rekha and two children.
Often referred to as the ‘King of Bulls’ in the stock markets, Jhunjhunwala’s latest venture Akasa Air’s maiden flight took off exactly a week ago on August 7, last Sunday.
He had also shot into the limelight for his palace-like new residence coming up at Malabar Hill in south Mumbai, and had been on the board of several top companies..
Jhunjhunwala had an estimated net worth of $5.5 Billion (as of July 2022), which made him the 36th richest man in India. Jhunjhunwala was also chairman of Hungama Media and Aptech, as well as a director of Viceroy Hotels, Concord Biotech, Provogue India, and Geojit Financial Services.
Jhunjhunwala invested Rs 5,000 in capital in 1985 which grew to Rs 11,000 crore by September 2018.
The first big profit of Rakesh Jhunjhunwala was Rs 5 lakh in 1986. Between 1986 and 1989, he earned almost Rs 20-25 lakh profit.
Akasa Air is an Indian airline co-founded by Rakesh Jhunjhunwala and former Jet Airways CEO Vinay Dubey. The airline currently has two aircraft with additional order for 70 more aircraft and flies to three cities as of August 9.
Next Story :
-
Heavy Rains Predicted In Andhra Pradesh And Telangana From Today
![Heavy Rains Predicted In Andhra Pradesh And Telangana From Today]()
A low-pressure area is anticipated to develop in the southeast Bay of Bengal today, prompting the Meteorological Department to predict heavy rains across several regions in Andhra Pradesh starting tomorrow.
-
Kumbh Mela To Be Plastic Free This Time: Kishan Reddy
![Kumbh Mela To Be Plastic Free This Time: Kishan Reddy]()
Hyderabad, Dec 15 (Maxim News): Union Minister Coal and Mines and State BJP President, G. Kishan Reddy said that he has received an invitation to participate in the Kumbh Mela and will attend and take a holy dip.
-
Yearly ₹12,000 For Landless Poor Families: Bhatti Vikramarka
![Yearly ₹12,000 For Landless Poor Families: Bhatti Vikramarka]()
Khammam/Hyderabad, Dec 15 (Maxim News): Deputy Chief Minister Mallu Bhatti Vikramarka has given good news to the Agricultural Landless workers saying that the election promise of giving Rs. 12,000 per annum scheme will be implemented from December 28 (Congress party formation Day).
-
Bhatti: Congress Taking Loans to Clear BRS-Era Debts
![Bhatti: Congress Taking Loans to Clear BRS-Era Debts]()
Khammam\Hyderabad, Dec 15 (Maxim News): Deputy Chief Minister and Finance Minister, Mallu Bhatti Vikramarka lambasted the BRS leaders for misleading the public by telling blatant lies about the State’s financial debts.
-
Cold Wave Conditions Grip Telangana, Hyderabad Shivers At 9.7 Degrees Celsius
![Cold Wave Conditions Grip Telangana, Hyderabad Shivers At 9.7 Degrees Celsius]()
Hyderabad, Dec 15 (Maxim News): Cold wave conditions prevailed in Adilabad and Komaram Bheem Asifabad districts of Telangana State between Saturday night and early hours of Sunday with temperatures hovering between 6.3 degrees Celsius and 7 degrees Celsius.
Now you can get latest stories from Indtoday on Telegram everyday. Click the link to subscribe. Click to follow Indtoday Facebook page and Twitter and on Instagram. For all the latest Hyderabad News updates
