Following ace investor Rakesh Jhunjhunwala's death at the age of 62 on Sunday, 14 August, Prime Minister Narendra Modi took to Twitter and expressed his grief over Jhunjhunwala's demise.
Condoling the business magnate's death, Prime Minister Modi said, "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," the prime minister added.
Industrialist and chairperson of the Adani group, Gautam Adani took to Twitter and said, “Extremely saddened by the untimely passing away of the most legendary investor that India has had.”
Adani added, “Shri Jhunjhunwala inspired an entire generation to believe in our equity markets with his brilliant views. We will miss him. India will miss him but we will never forget him.”
Ratan Tata, Chairman Emeritus of the Tata Group, also expressed his grief, saying that Jhunjhunwala will always be remembered for his acute understanding of the markets as well as for his jovial personality, kindness, and foresightedness.
In a tweet, Tata wrote:
Meanwhile, Aviation Minister Jyotiraditya Scindia reacted to the business magnate's demise and said, "Sh Rakesh Jhunjhunwala Ji was not only an astute businessman, but also passionately invested in India’s growth story."
"He will be remembered for giving India its new airline @AkasaAir after more than a decade. My deepest condolences to his family & loved ones," Scindia added.
Home Minister Shah, Uday Kotak React
Union Home Minister Amit Shah, expressing anguish at Jhunjhunwala’s death said, “His vast experience and understanding of the stock market have inspired countless investors. He will always be remembered for his bullish outlook.”
“My deepest condolences to his family,” Shah added.
Kotak Mahindra Bank CEO Uday Kotak, remembering Jhunjhunwala said, "Rakesh Jhunjhunwala: my school and college mate. One year my junior. Believed stock India was undervalued. He is right."
"Amazingly sharp in understanding financial markets. We spoke regularly, more so during Covid. Will miss you Rakesh," he added.
Reuters quoted Avendus CEO Andrew Holland, who said, “I just have the fondest memories of sitting in Geoffrey’s bar and discussing markets. Such a humble and nice, warm hearted man."
Finance Minister Nirmala Sitharaman said, "Shri Rakesh Jhunjhunwala is no more. Investor, bold risk taker, masterly understanding of the stock market, clear in communication- a leader in his own right."
Sitharaman added, “Fondly remember several conversations we’ve had. Had strong belief in India’s strength and capabilities. Condolences.”
Minister of Commerce & Industry Piyush Goyal also took to Twitter after the news of Jhunjhunwala’s demise and said, “Deeply anguished at the demise of veteran investor Rakesh Jhunjhunwala. He was an inspiration for wealth creation for crores.”
Several Other Ministers Express Condolences
Union Home Minister Rajnath Singh said, “Shocked by the sudden demise of seasoned Investor, Shri Rakesh Jhunjhunwala. He will be remembered for his contributions in business and industry.”
The defence minister added, “He was at the forefront of creating a culture of investing in Indian stock markets. Condolences to his family and many admirers.”
Rajasthan Chief Minister Ashok Gehlot said, “I pay my tributes to one of the biggest investors in the stock market and a businessman of Rajasthani origin, Mr. Rakesh Jhunjhunwala. Recently he also launched Akasa Airlines.”
“I pray to God to give peace to his soul and give strength to the family in this time of grief,” Gehlot tweeted.
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