Billionaire Investor Rakesh Jhunjhunwala passes away

Rakesh Jhunjhunwlala, who was widely known as "India's Warren Buffet" and the "Big Bull", has passed away at the age of 62. Jhunjhunwala had recently attended the launch of commercial operations of Asasa Air on August 7, an airline co-founded by him and former Jet Airways CEO Vinay Dube.

The ace investor - who had a net worth of $5.8 billion, according to Forbes- was reported to be having a stake of 40 per cent in the airline, estimated to be around $35 million.

Jhunjhunwala was sufferring from Diabetes and a kidney ailment, a doctor said. As per reports, he was admitted to the hospital a few days ago and later discharged.