Rakesh Jhunjhunwala, a famous stock market investor, passed away this morning in a Mumbai hospital. He was also a founding member of Akasa Air, India’s newest airline, which began commercial operations last week.

According to the doctor, the billionaire investor and owner of Akasa Air had chronic kidney disease and was undergoing long-term dialysis. He hadn’t been feeling well for the past few days and passed away in Breach Candy Hospital today.

Remembering the veteran investor, Prime Minister Narendra Modi said, “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”.

Who is Rakesh Jhunjhunwala?

Rakesh Jhunnjhunwala was born on July 5, 1960, and is commonly referred to as India’s Warren Buffet. He grew up in Mumbai. In 1985, after completing his degree from Sydenham College, he enrolled at the Institute of Chartered Accountants of India and married Rekha Jhunjunwala, a stock market investor.