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Akasa Air founder, billionaire investor Jhunjhunwala dead

MUMBAI, August 14, 2022

Founder of the recently-launched India's Akasa Air airline and billionaire stock investor Rakesh Jhunjhunwala died this morning, aged 62. 
 
Jhunjhunwala was brought dead to the Breach Candy Hospital in Mumbai at 6.45am, according to a report in Indian Express. He is believed to have had uncontrolled diabetes and kidney-related issues.
 
He is survived by his wife and three children.
 
Known as "India's Warren Buffett", Jhunjhunwala wealth was pegged over ₹40,000 crores, according to Forbes.
 
"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," said Indian Prime Minister Narendra Modi.
 
India's newest airline Akasa Air, backed by Junjhunwala, took off in Indian skies earlier this month. He had teamed up with ex-Jet Airways CEO Dube and former IndiGo head Aditya Ghosh to set up Akasa.
 



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