Written by Sharangee Dutta | Edited by Aniruddha DharNew Delhi
Mahindra Group chairman Anand Mahindra took to Twitter on Sunday to recall an “advice” given by the late ace investor Rakesh Jhunjhunwala. The words were shared by the late billionaire investor during an interview with a leading media house in 2019.
Mahindra shared an excerpt from the interview, calling the advice “most valuable and profitable investment… ever”. “It’s billion-dollar advice, and best of all, it takes your time, not your money. #SundayThoughts,” he tweeted.
Jhunjhunwala had said during the interview that his worst investment was his “health” and that he encourages everyone to “invest the most in that”.
The news story focused on prioritizing health at an age when most of the population spends a lot of time making money. The tweet has received nearly 11,500 likes as of the writing of this report.
Jhunjhunwala breathed his last due to cardiac arrest on August 14 in Mumbai. He also suffered from chronic kidney disease and was on dialysis, which he responded well to, said Dr Pratit Samdani of Breach Candy Hospital. He was 62.
Often referred to as the “Warren Buffet of the Indian market,” Jhunjhunwala’s net worth was estimated at nearly $5.8 billion, according to Forbes. His passing came just a week after the launch of India’s youngest budget airline, Akasa Air. Jhunjhunwala was a co-founder and had 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 horde of private investors. Jewelry retailer Titan Co. was one of the largest and most profitable investments for the veteran trader and his wife Rekha Jhunjhunwala, accounting for more than a third of their portfolio, according to data collected by Bloomberg.