"Witty and Insightful Figure"... The 'Warren Buffett of India' with 7 Trillion Won Assets Passes Away

Indian billionaire Rakesh Jhunjhunwala, Photo by Reuters, Yonhap News

[Asia Economy Intern Reporter Kim Se-eun] Rakesh Jhunjhunwala, known as the "Warren Buffett of India," passed away on the 14th (local time).

On the same day, local Indian media such as the Hindustan Times reported that the billionaire Jhunjhunwala died in Mumbai at the age of 62. The exact cause of death has not been disclosed.

Jhunjhunwala, originally from Rajasthan in western India, entered the stock market in the mid-1980s as a college student with 5,000 rupees. He steadily discovered and successfully invested in undervalued small-cap stocks, earning the nickname "Warren Buffett of India."

He later founded the investment firm Rare Enterprises and accumulated his wealth. His fortune is estimated to be around $6 billion (approximately 7.8 trillion KRW).

Jhunjhunwala frequently appeared on TV, forecasting a bullish Indian stock market and gaining popular acclaim as the "Big Bull of India." Recently, he participated in the founding of Akasa Air, India's ultra-low-cost airline, and appeared in a wheelchair at the launch ceremony.

Upon hearing the news of his death, Indian Prime Minister Narendra Modi posted on his Twitter, "Jhunjhunwala was an indomitable figure," expressing his condolences. He added, "Witty and insightful, he made an indelible contribution to the financial sector and was very passionate about India's development. His death is sorrowful."

This content was produced with the assistance of AI translation services.