Rakesh Jhunjhunwala on death, weather and market: 'Nobody can predict it'

Stocks like Titan, CRISIL, Lupin, and Karur Vysya Bank which he got in early, turned out to be multi-baggers. Sizeable stakes in many companies also meant that he could also indulge in his favourite activity of trading to his advantage.

Business investor Rakesh Jhunjhunwala, who died early on Sunday morning because of kidney ailment, had once commented that much like weather and market, no one can predict death.

Speaking to ET Now at CII real estate confluence in February, the 62-year-old had said, "The stock market has no king. The market is the only king. And you know, markets are like women - always commanding, always uncertain, always volatile. And you can never truly dominate a woman, right? So, you cannot dominate the market. Weather, death, markets and death--you can't predict.

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Rakesh Jhunjhunwala is worth $5 billion. He is survived by his wife, two sons and a daughter.

Offering his condolences, Prime Minister Narendra Modi tweeted, "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. Om Shanti."

Junjhunwala was brought dead at Breach Candy hospital in Mumbai at 6:45 am on Sunday, according to TV channel CNN IBN.

Read more: Remembering Rakesh Jhunjhunwala: The veteran investor's role models

He was the promoter of India's newest airline, Akasa Air, which took off on its inaugural flight from Mumbai to Ahmedabad on August 7.  Junjhunwala had invested $35 million for an estimated 40 per cent stake in the new airline.

"A lot of people question why I've started an airline. Rather than answer them, I say I'm prepared for failure," the billionaire had said at an industry event in February. "It's better to have tried and failed than not tried at all."

"I hope to prove people wrong. Now it's become a matter of ego,” said Jhunjhunwala, who has invested $35 million for an estimated 40 percent stake in the new airline.

Read more: Days before Rakesh Jhunjhunwala’s death, interview had sparked concerns about his health on social media