Full of life, wit, and insight: PM Modi on Rakesh Jhunjhunwala's death; know top political leaders' reactions

Veteran stock market investor, Rakesh Jhunjhunwala, died on Sunday morning, prompting an outpouring of shock and grief. Top political leaders, including Prime Minister Narendra Modi and Home Minister Amit Shah, have expressed sadness over the news. According to reports citing sources, Jhunjhunwala, dubbed 'India's Warren Buffett' and the 'Big Bull' of Indian markets, died of a cardiac arrest.

Prime Minister Narendra Modi tweeted, "Rakesh Jhunjhunwala was indomitable. He leaves an indelible contribution to the financial world, full of life, wit, and insight. He was also extremely passionate about India's progress. His passing away is saddening. My condolences to his family and admirers. Om Shanti."

Home Minister Amit Shah tweeted, "Many investors have been inspired by his vast experience and understanding of the stock market. He'll be remembered for his bullish outlook. My deepest condolences to his family."

Finance Minister Nirmala Sitharaman said, "Shri Rakesh Jhunjhunwala is no longer alive. Investor, daring risk taker, mastery of the stock market, and clear communicator—a leader in his own right. I recall several conversations we had. Had faith in India's strength and capabilities. Condolences."

The chief minister of Karnataka, Basavaraj S Bommai, remembered the business magnate as "a role model for young investors." "Shocked and saddened to learn of the untimely death of ace stock trader and investor Rakesh Jhunjhunwala this morning. He was an institution in his own right, serving as a role model for many young investors. May his soul rest in peace, and God gives his family and friends the strength to bear this huge loss."

K Sudhakar, Karnataka's health minister, also paid tribute to the renowned investor. The minister referred to Jhunjhunwala as "India's Warren Buffet." He even expressed condolences to his family. "I was saddened to learn of the death of veteran investor Shri Rakesh Jhunjhunwala Ji." He was known as the Warren Buffett of India as he had mastered the art of investing and had inspired many people with his optimism. My heartfelt condolences to his family. "Om Shanti," he tweeted.

On Sunday morning, the 62-year-old businessman breathed his last in Mumbai. He was reported to be suffering from health problems. Jhujhunwala was an investor in Akasa Air, India's newest airline. The airline's first flights recently took off from Bengaluru and Mumbai.

His wife and three children survive Rakesh Jhunjhunwala. The businessman's net worth is estimated to be $5.8 billion. He was last seen at the Akasa Air launch event in Mumbai, where Jhunjhunwala was seen in a wheelchair.

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• stock market