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Padma Shri 2023: Rakesh Jhunjhunwala to be awarded posthumously


Billionaire Rakesh Jhunjhunwala, who passed away at 62 last year, will be conferred the Padma Shri- India’s fourth-highest civilian honour- posthumously. Often called ‘India’s own Warren Buffet’, Rakesh Jhunjhunwala passed away on August 14, 2022. He was born on July 5, 1960 and grew up in Mumbai.

Padma Shri 2023: Rakesh Jhunjhunwala is seen. (File) Padma Shri 2023: Rakesh Jhunjhunwala is seen. (File) Paying his tribute to Rakesh Jhunjunwala, PM Modi had tweeted condoling the stock market guru’s demise. “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,” PM Modi had tweeted.

Graduating from Sydenham College in 1985, Rakesh Jhunjhunwala enrolled at the Institute of Chartered Accountants of India. He later married Rekha Jhunjunwala, a stock market investor.

The family of the investor is likely to attend the ceremony and receive his Padmi Shri this evening. Always bullish about India’s stock markets, Rakesh Jhunjhunwala ran a privately-owned stock trading firm called RARE Enterprises. and was also the owner of India’s newest airline Akasa Air.

Additionally in the trade and industry category, Areez Khambatta- founder of the popular soft drink brand Rasna- will also be awarded Padma Shri posthumously.

Chairman of Aditya Birla Group Kumar Mangalam Birla will be conferred with Padma Bhushan.

Upon his demise, Rakesh Jhunjhunwala’s peer Ramesh Damani said, “Rakesh Jhunjhunwala captured the imagination of the Indian public. He was in many ways the pied piper of Indian capital markets and was extremely bullish on India. His monuments in the financial world like Ashoka University, Akasa Airlines etc are all around us.”

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