Rakesh Jhunjhunwala, a billionaire investor, died in Mumbai at 62.

Rakesh Jhunjhunwala, a billionaire business entrepreneur, stock trader, and investor, died on Sunday morning at 62. According to sources, he was pronounced dead at 6.45 a.m. at the Breach Candy Hospital in Mumbai.

Jhunjhunwala was released from the hospital about two to three weeks ago.

Rakesh Jhunjhunwala just entered the aviation industry with the launch of Akasa Air on August 7. Jhunjhunwala was the chairman of Aptech Limited and Hungama Digital Media Entertainment Pvt. Ltd., in addition to being an investor. He was also a director of various Indian companies. He also served as an adviser to India’s International Movement to Unite Nations.

Prime Minister Narendra Modi offered his condolences on Jhunjhunwala’s death.  He 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.”

Rakesh Jhunjhunwala, born on July 5, 1960, into a middle-class family, initially entered the stock market in 1985 with just Rs 5,000. He was a college student at the time. In its most recent assessment, Forbes estimated his net worth to be around $5.5 billion.

Rakesh Jhunjhunwala made his first significant profit in 1986 when he purchased Tata Tea shares. He bought 5,000 shares of Tata Tea for Rs 43, and the value soared to Rs 143 in three months. Jhunjhunwala made Rs 20-25 lakh over the next three years. He made more than three times his money.

His philanthropic interests include healthcare, nutrition, and education. Jhunjhunwala used to donate to charity 25% of his salary. In 2020, he will donate a quarter of his money to charity. He donates to St Jude, which runs cancer-affected children’s homes, Agastya International Foundation, and Arpan, an organization that raises awareness about sexual exploitation among children.

Rakesh Jhunjhunwala also collaborated with the Sankara Eye Foundation to establish a 225-bed hospital in Panvel, Maharashtra, called the Rakesh Jhunjhunwala Sankara Eye Hospital. Patients can receive free eye care and surgery at the hospital.