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have breaking news at the moment business tycoon rakesh jujun balaj passed away at 62. i remember had multiple health issues he was hospitalized thereafter but big breaking news coming in rakesh junjunwala has passed away he's passed away at 62 now remember he's the indian billionaire business magnate stock trader investor needs no introduction certainly he's been known for managing his own portfolio as partner in his asset management firm rare enterprises as well and pretty much has spent in his entire life in bombay where his father also earlier on worked as the commissioner of income tax so yes business tycoon junjunwala no more at 62 already we are being told that he was not keeping quite well so certainly had health issues multiple of those and thereafter he was hospitalized as well so he was undergoing treatment at a hospital and radhika joins us with more details to take us through more raj radhika unfortunate news coming in business tycoon jun jun wala no more that's right business no more he was unwell he was undergoing medical treatment and at the age of 62 he passed away so this news coming in just now uh whereby we are hearing that rakesh jindranwala has passed away he has he's died at the age of 62.
of course you know as far as is concerned he is the indian billionaire business magnate talk trader as well as investor who managed his own portfolio as the partner in his uh management form asset management firm uh grew up in a rajasthani family in mumbai um his father in fact worked as a commissioner of income tax he his estimated net worth is about 5.5 billion dollar and he's almost about 36 richest man in india and uh just uh you know recently of course he co-founded akasa air uh airline as well and um along with the former jet airways ceo vinai uh so now of course the airline has two aircraft uh and several more in the making so and very unfortunate news of course coming in whereby rakesh is investor the biggest business cycle that india has seen uh has passed away um he was hospitalized he was unwell for quite some time and now of course at the age of 62 has passed away absolutely in fact very recently he was also in the news radhika because you know as far as the stock market is concerned experts gave him a buy tag and in that sense he's always been in the news with regards to the stock market yes absolutely you know he decides being an active investor i mean of course he has been in the news for um you know all the active investments he's been doing over the last several years um he's also the chairman of tech and several other entertainment uh divisions as well and also sisters the board of directors of several other companies as well be it uh you know prime focus uh certain financial services uh provoke and biotech limited concord biotech limited and so on so he is uh he sits in the board of directors of several big companies he's obviously referred to popularly referred to as the big bull of india and the king of uh bull market and is widely of course known for his stock market predictions and uh you know bullish outlooks as far as stock market is concerned uh so yes the biggest loss as far as uh you know uh india is concerned as far as the entire business conglomerate is concerned um and uh in fact uh sometime in 2013 is when he had uh bought uh you know six of 12 units of uh ridgeway apartments at malbar hill that became of the biggest news for uh almost for about you know 180 crores and then several uh other apartments in the building from hsbc bank as well so yes he's been in the news almost every day especially as far as his predictions in the stock market go his bullish a person uh who's always been in the news always been in the media and uh you know there is a popular parody blog called the secret journal of rakesh in january as well that humor humorously parrot uh parodies the investors lives you know so obviously the biggest laws as far as indian business conglomerate is concerned uh rakesh rajawala dying at the age of 62 because there was an investigation also against 10 points inside a straight trading um sometime in jan 2020 was it was it was when that happened uh in fact the sebby had settled the issue after a payment of uh 35 floor uh storm genjiro and his associates in fact he paid um almost about 18 crore and his wife had paid about 3.2 crores so there was an investigation against him as well uh for insider trading which was later settled of course so yes a very you know tragic news coming in um and you know one of the biggest investors biggest in uh you know indian billionaires talk trader uh who managed his own portfolio was part of several conglomerates founded the india founded this airline akasa dying at the age of 62.
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