Written by Sharangee Dutta Edited by Aniruddha DharNew Delhi
Mahindra Group chairman Anand Mahindra took to Twitter on Sunday to recall a “tip” given by late investor Rakesh Jhunjhunwala. The words were shared by the late billionaire investor during an interview with a leading media house in 2019.
Sharing an excerpt of the interview, Mahindra called the tip “the most valuable and profitable investment … ever.” “It’s advice worth billions and the best part is that it asks you to invest your time, not your money. #SundayThoughts,” he tweeted.
Jhunjhunwala, during the interview, had said that his worst investment has been “health” and that he encourages everyone to “invest more in that”.
The news report focused on prioritizing health in an age when most of the population spends a lot of time earning money. The tweet has received nearly 11,500 likes as of this writing.
Jhunjhunwala breathed his last due to a cardiac arrest on August 14 in Mumbai. He also suffered from chronic kidney disease and was on dialysis, which, however, he was responding to well, said Dr Pratit Samdani of Breach Candy Hospital. He was 62 years old.
Often called the “Warren Buffet of the Indian market”, Jhunjhunwala’s net worth was estimated to be nearly $5.8 billion, according to Forbes. His death came just a week after the launch of India’s newest budget airline, Akasa Air. Jhunjhunwala was a co-founder and held a 40 percent stake in the airline. He had appeared at the launch event in a wheelchair.
Jhunjhunwala was one of the most influential market voices in India – Asia’s third largest economy, with an intense following among the country’s growing crowd of retail investors. Jewelry retailer Titan Co. was one of the biggest and most profitable investments for the veteran trader and his wife Rekha Jhunjhunwala, making up more than a third of their portfolio, according to data compiled by Bloomberg.
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