Billionaire stock market investor late Rakesh Jhunjhunwala will be awarded India's fourth highest civilian honour Padma Shri posthumously on Wednesday by President Droupadi Murmu.
"For the year 2023, the President has approved conferment of 106 Padma Awards including 3 duo cases (in a duo case, the Award is counted as one) as per list below. The list comprises 6 Padma Vibhushan, 9 Padma Bhushan and 91 Padma Shri Awards. 19 of the awardees are women and the list also includes 2 persons from the category of Foreigners/NRI/PIO/OCI and 7 Posthumous awardees," Home Ministry said in a press release in January.
Veteran stock market investor, trader, and Indian billionaire Rakesh Jhunjhunwala died at 62 in Mumbai in August last year.
He had been undergoing treatment for multiple health issues including kidney ailment, as per reports. He was last seen at the launch event of Akasa Air.
Born on July 5, 1960, Jhunjhunwala was a graduate of Sydenham College. He later enrolled at the Institute of Chartered Accountants of India. Known as India's Warren Buffet, Jhunjhunwala started investing in Dalal Street in 1985. His first investment was Rs 5,000 and by 2018, his capital grew to Rs 11,000 crore.
The family of the investor is likely to attend the ceremony and receive his Padmi Shri. He was very bullish on India's markets and economy, Jhunjhunwala ran a privately-owned stock trading firm called RARE Enterprises and was also founder of private airline Akasa Air.