Stock investor Rakesh Jhunjhunwala, dubbed India’s Warren Buffett with an estimated net worth of $6 billion, died early on Sunday at age 62, his family said.
A chartered accountant by profession from the desert state of Rajasthan, Jhunjhunwala started dabbling in stocks while in college and went on to manage a stock trading firm, RARE Enterprises.
“Rakesh-ji passed away surrounded by his family and close aides,” a family member told Reuters, using a term for respect.
The cause of death was not immediately announced. The promoter of India’s newest airline, the ultra low-cost Akasa Air, Jhunjhunwala appeared days ago at its public launch.
Jhunjhunwala’s excellent communication skills helped small investors understand the stock market.
His insights on the economy and companies made him a popular TV celebrity.
Jhunjhunwala’s bets include a number of companies run by Tata Group, one of India’s largest conglomerates. These include Tata Motors, watch maker Titan, Tata Communications and Indian Hotels Co , which runs the Taj hotels.
Star Health Insurance and Federal Bank Major politicians and business leaders mourned his death on social media.
He is survived by his wife and three children.